Azerbaijan may refuse black oil production

Main objective of the State Oil Company of Azerbaijan (SOCAR) is to produce fuel meeting European standards, David Mammadov said, APA reports.

Main objective of the State Oil Company of Azerbaijan (SOCAR) is to produce fuel meeting European standards, said the SOCAR Vice President for Refining David Mammadov at the 2nd Oil and Gas Processing and Petrochemical Complex Forum in Baku.

According to him, production of fuels meeting Euro standards will lead to refusing black oil production.

According to his forecasts, the country will produce 2.4 million tons of gasoline and 2.7 mln tonnes of modern diesel: “This will partly meet the demand of network in Georgia”.

The Vice-president noted that after completion of modernization of oil refineries, all fuels will meet Euro-5 standard: “Bitumen and liquid oil will be produced meeting this standard. This will meet our future demand. Production of 354,000 tons of bitumen will cause stop of black oil production. Thus, Azerbaijan will meet its demand with all types of fuel by 2030”.

He added that SOCAR will continue its integration process within the relevant development program: “After adoption of development program, the Baku Oil Refinery named after Heydar Aliyev will produce fuels meeting modern standards. Consequently, the demand for oil and fuel carriers will be completely met." (News.Az)