The State Oil Company of Azerbaijan (SOCAR) plans to process around 6.7 million tons of oil in 2014, a senior representative of SOCAR said on Friday.
According to him, over 6.2 million tons of gasoline was sent by SOCAR to processing last year. The volume is expected to amount to 6.4 million tons for this year.
The representative explained the increase in the volume of oil processing has to do with an increase in gasoline and diesel fuel consumption in the country.
"The annual gasoline consumption has increased by 10 per cent and the increase of diesel fuel consumption amounts to 13 per cent," SOCAR representative stressed.
According to the representative of the State Oil Company, the volume of gasoline production is expected at the level of nearly 1.4 million tons this year compared to 1.3 million tons in 2012.
Oil products are produced at two Baku refineries with a capacity of 16 million tons of oil a year. Both refineries belong to SOCAR which annually processes approximately about seven million tons of oil from its own funds from onshore and offshore fields