16:05 - 26.04.2023

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April 26, Fineko/abc.az. Capacity utilization rate of STAR refinery, built by SOCAR on the Aliaga Peninsula in Türkiye, reached 113%, ABC.AZ reports with reference SOCAR Turkey CEO Elchin Ibadov.

He said that STAR refinery covers about 25% of Türkiye’s demand for petroleum products, noting that STAR capacity utilization rate in 2022 is 113%.

"Today, STAR refinery produces and processes 11 million tons of crude oil and produces its refined products. This covers about 25% of Türkiye’s needs for petroleum products. Of course, this is not enough, but we are proud that we contribute about $1 bn annually to Türkiye’s current account deficit, as we significantly reduce the external dependence of the market," Ibadov stressed.

"For example, we have standard capacity of 10 million tons, but we were able to produce 11.3 million tons last year, which is 113% of the capacity,"  Ibadov said.