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SOCAR Turkey to launch STAR refinery by 2018

by ChemOrbis Editorial Team -
  • 18/06/2015 (11:38)
According to media reports, SOCAR Turkey is planning to launch its $5.6 million Star Refinery project in Turkey by March 2018, according to SOCAR Turkey CEO and board member of Petkim Petrochemical Holding, Kenan Yavuz.

The refinery is expected to have an annual capacity of 10 million tons of refining products. One fourth of the output reportedly will be used by Turkey’s petrochemical producer Petkim and the remainder will be sold to third parties. Yavuz stated that once the refinery comes on stream, Turkey’s current account deficit will decrease by $2.5 billion annually as the country will be less dependent on imported refinery products. Turkey’s annual imports of refinery and petrochemical products currently stand at around $20 billion.

Yavuz also reported that Socar Turkey is planning to open the Petlim Container Port in the Aegean Sea by September.
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