TODAY.AZ / Business

SOCAR halts crude oil export

05 December 2013 [09:10] - TODAY.AZ
As a result of economic processes and increase of number of vehicle in Azerbaijan, demand for gasoline continually increases, said the Vice President of State Oil Company of Azerbaijan for refining David Mammadov.

According to him, average annual growth rate of this demand is above 10% reent years: “It’s known that gasoline production should be increased in this condition and extra oil volumes are required for this purpose. Therefore, SOCAR will stop crude oil export from next year and direct it to the gasoline production”.

Along with this, Mammadov said that SOCAR already decreases oil export this year and it meets domestic demand for gasoline. At the same time, existing gasoline reserves are  also used. Consequently, gasoline reserves in Azerbaijan fell to 17,000 tonnes, which are sufficient for 4-day domestic demand.

State Statistical Committee says that 1.171 mln tonnes of gasoline were sold and 1.170 mln tonnes were produced during 10 months of 2013. According to SOCAR’s forecasts, domestic demand for gasoline will reach 1.420 mln by the year-end. 


/APA/


 
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