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SOCAR CEO calls for more refineries

by Daily Sabah

ISTANBUL Sep 02, 2014 - 12:00 am GMT+3
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by Daily Sabah Sep 02, 2014 12:00 am
During a press tour at the Socar Turcas Aegean Refinery (STAR) and Petkim Container Port, which are under construction in İzmir's Aliağa district, State Oil Company of the Azerbaijan Republic (SOCAR) Turkey CEO Kenan Yavuz commented on the plants and Turkey's petrochemical industry. Yavuz said that after the STAR project is completed in 2018, Turkey will need four additional petrochemical plants and at least one more refinery.Yavuz noted that STAR is the most comprehensive localization project which focuses on goods imported by Turkey, adding, "At the moment, Turkey is importing refined and petrochemical products which are valued around $15 billion [TL 32.42 billion], and this is the second-highest imports field after energy."He also stated that Petkim has the capacity of meeting 20 percent of Turkey's requirement for refined products and continued, "STAR has the annual capacity of processing 10 million tons of crude oil and this is the largest investment in Turkey that is accumulated in a single field.
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  • Last Update: Sep 02, 2014 11:26 pm
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