The member companies of the Caspian European Integration Club (CEIBC) held a meeting with the Vice President for Refining of the State Oil Company of the Republic of Azerbaijan (SOCAR) David Mammadov in Baku on November 20. Prospects of development of the oil refining industry of Azerbaijan were discussed at the meeting.
SIA reports that addressing the meeting David Mammadov spoke about shift to the Euro-3 standard and noted that it is expected to be introduced since January 1, 2014. According to him, no importance will be attached to the production date of an automobile when importing them. The main requirement will be the compliance of the engine of the vehicle with the Euro-3 standards.
Speaking about import of oil and oil products into the country, the Vice President noted that no sulfur-bearing oil is currently imported to the country. According to him, the content of sulfur in oil that the country is importing conforms to that of the Azerbaijani oil.
He also noted that the State Oil Company has been undertaking certain steps since 2004 in order to raise the quality of produced fuel. A big program requiring high financial costs and consisting of several stages is realized in this regard. He noted that a new petrochemical complex including a gas processing plant, an oil refinery as well as an energy center is expected to be fully commissioned in 2023-2025. The operation of the present oil refineries will be stopped right after the launch of this complex.
D. Mammadov also touched upon the depth of oil refining at Baku oil refineries and noted that this figure has already reached 92%. He added that this indicator is planned to be increased up to 95% in future.
The Vice President of the State Oil Company also noted that the volume of petrol produced in the country is satisfying only domestic needs. According to him, the demand for petrol has grown by 10.2% this year and tension may be observed in this matter if this indicator keeps growing in coming year as well. For this reason we have stopped exporting petrol since the second half of 2012 as the priority task of the State Oil Company of Azerbaijan is to satisfy domestic needs of the republic, D.Mammadov emphasized.
Addressing the session, Chief Executive Officer of the Caspian-European Integration Business Club (CEIBC) Telman Aliyev provided information about CEIBC. According to him, CEIBC was established in June 2002 in association with Caspian Energy International Media Group and under intensive support of largest oil&gas companies operating in the Caspian-Black Sea region. Ilham Aliyev, President of the Republic of Azerbaijan, has been a chairman of CEIBC. According to T. Aliyev, CEIBC promotes attraction of oil sector revenues into development of the non-oil sector. CEIBC is operating in 50 countries worldwide, carrying out an active work in support of the dialogue between government agencies and the private sector.
SOCAR Vice President David Mammadov was given CEIBC honorary membership certificate. New CEIBC member companies also received the certificates. Participating in the CEIBC meeting were also executives of companies and representatives of a number of diplomatic agencies accredited in Azerbaijan.
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