Azerbaijan’s SOCAR to Stop Oil Exports in 2014

As a result of economic processes and increase of number of vehicles in Azerbaijan, demand for gasoline continually increases, said the Vice President of State Oil Company of Azerbaijan (SOCAR) for refining David Mammadov, the news agency APA reported on December 4.

According to him, “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.

Copyright: APA, 2013