Over 6mln tons of oil to be refined this year

Before the end of this year, the “AzerNeftYag” and “AzerNeft-Yanajag” refineries will refine a total of 6,215,000 tons of oil, says general director of “AzerNeftYag” Ramiz Mirzayev.

According to him, although the combined capacities of the two refineries constitute 22 million tons, only 29-30% of them are currently engaged. This is explained by the fact that Azerbaijan gives preference to exporting crude as it fetches hard currency to the state budget.

Mr. Mirzayev indicated that just 4 million tons would be refined next year, which, however, will suffice to meet domestic demand.

“AzerNeftYag” refined 1,080,000 tons of oil products last year and 250,000 tons in the first quarter of 2001, transferring $45,905,000 to the state budget last year and $5,501,000 this year.*