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Azerbaijan's SOCAR launches STAR refinery

by ChemOrbis Editorial Team -
  • 19/10/2018 (09:09)
The opening ceremony of the STAR Refinery was held in Aliaga, Izmir on October 19, under the auspices of President Recep Tayyip Erdogan and President Ilham Aliyev of Azerbaijan.

The refinery was built by SOCAR Turkey, a subsidiary of Azerbaijan’s state-owned company SOCAR, with an investment of around $6.3 billion. The investment represents the largest investment in a single point in Turkey by the private sector and is also the first project that has the strategic investment incentive certificate in Turkey.

STAR Refinery, foundation of which was laid in 2011, will reduce Turkey’s foreign-dependency on processed oil products by $2.5 billion with its crude oil processing capacity of 10 million tons.

The refinery will also produce 1.6 million tons of naphtha, along with diesel, jet fuel, and LPG.
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