17:17 - 23.10.2023

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October 23, Fineko/abc.az. It is planned to increase the annual production capacity of STAR refinery, investments of the Azerbaijan State Oil Company (SOCAR) in Türkiye, up to 13 million tons in 2024.

ABC.AZ reports that Kenan Mirzayev, the head of Türkiye Refining & Petrochemical Business Unit of SOCAR and Acting CEO of Petkim Petrokimya Holding, informed about this.

He added that since its establishment, STAR refinery, using optimization capabilities in the design of the refinery, has achieved a significant increase in capacity with low investments: "The capacity of the refinery has been increased from 10 million up to 12 million tons. As a result, we have positive prospects for both Petkim and STAR refinery in line with current market conditions and expected global trends."

He noted that these estimates may vary depending on global economic and political dynamics: "However, based on the available data, we can say that our companies maintain their performance and continue to grow."