October 20, 2018 11:14
A presidential decree has declared a newly-opened oil refinery in western Izmir province as the first special industrial zone in Turkey, the Industry and Technology Ministry said Saturday.
Industry and Technology Minister Mustafa Varank said in a statement that the oil refinery will reduce Turkey's foreign trade deficit annually by $1.5 billion.
"The STAR refinery is the biggest real sector investment made at a time in Turkey," he said.
He stressed on the importance of petrochemical investments in terms of high value-added production, employment opportunities and balance of payments.
2/12/2018 3:34:09 AM
Kamila Aliyeva
Azerbaijan's state oil company SOCAR will continue to diversify its business portfolio and make new investments in Turkey in the future, the company told Trend and Azernews.
SOCAR has invested in several countries, as well as in Turkey during the last decade in order to optimize its revenues and create added value for Azerbaijan's economy, the company noted.
"The modernization and reconstruction of Petkim Petrochemical Complex and the construction of Petlim container port have already been completed successfully and we are happy to announce that two of our strategically important projects in Turkey, namely the Trans-Anatolian Natural Gas Pipeline (TANAP) and Star Oil Refinery will be commissioned this year," SOCAR said.
All of these projects are a part of SOCAR's vertical integration strategy, according to the company.
Baku, December 15, AZERTAC
Southern Gas Corridor company, which is an Azerbaijani shareholder of Trans-Anatolian gas pipeline (TANAP), will give 8 out of its 58 per cent of shares to SOCAR Turkey Enerji A.Ş, said President of SOCAR Rovnaq Abdullayev.
“We are working with our partners on this. We plan to finalize this process soon,” he added.
SOCAR has operated in Turkey as SOCAR Turkey Enerji A.Ş since 2008.
11 October 2016 15:32
By Nigar Abbasova
Relations of Turkey and Azerbaijan, which are determined by historical, cultural, ethnic and religious connections, are gaining even more momentum due to mutually beneficial and successful cooperation of the two countries in the energy sector.
The 23rd World Energy Congress, grandiose event of colossal importance that brought together more than 10,000 top world leaders in the field of energy, became an additional evidence of the fact that successful cooperation between the countries may become a guarantee of energy security in a whole Europe.
Azerbaijan’s President Ilham Aliyev, speaking at the congress said that energy projects, jointly implemented by Azerbaijan and Turkey are of great significance for the world, mentioning that the role of the two countries in the issue of energy security can not be overestimated. The president emphasized that today the Southern Gas Corridor is among the largest energy projects all over the world.
October/01/2016BAKU - Anadolu Agency
National Parliament of Azerbaijan Republic approved Trans Anatolian Natural Gas Pipeline (TANAP) Project on Sept. 30.
Azerbaijani Parliament discussed issues including the cooperation between Azerbaijan and Turkey during the first meeting of the autumn.
The Deputy Speaker of the Parliament, Valeh Alasgarov, noted that Turkey has already implemented all necessary state procedures on the TANAP project.
He underlined that the approval of the Memorandum of Understanding between the two countries was signed on May 26, 2014.
9/23/2016
Amarinth, a company specializing in the design, application and manufacture of centrifugal pumps and associated equipment to the oil and gas, petrochemical, chemical, industrial and power markets, has delivered its first order to the Indian operation of Aquatec consisting of exotic alloy API 610 VS4 pumps for use in the SOCAR Turkey Agean refinery (STAR) in Turkey.
The STAR project, set for completion in 2018, will be the first oil refinery to start operations in Turkey since the early 1970s and will process an estimated 10 MMtpy of crude oil. Located five kilometers from Aliaga, Izmir Province, the project also includes the construction and operation of three marine shipping terminals and a new stand-alone wastewater treatment plant for managing refinery by-product.
