Azerbaijan’s SOCAR to upgrade its refinery, pauses OGPC project
SOCAR Vice President Tofig Gahramanov stated that the company’s oil refinery in Baku and Azerikimya Production Union’s chemical facilities will undergo maintenance as well as upgrades and that SOCAR plans to resume work on the OGPC project once crude oil prices stabilize.
The capacity of SOCAR’s oil refinery is expected to reach 7.5 million tons/year while new units are also slated to be installed at the site following the completion of the $1.3 billion project.
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