The company SOCAR (State Oil Company of Azerbaijan) is stopping the activity of the Azerneftyaq Oil Refinery, starting from January 2015, the vice-president for Regime, Human Resources and Information Technology, Halik Mamedov, said today.
Azerneftyaq Oil Refinery closedThe company SOCAR (State Oil Company of Azerbaijan) is stopping the activity of the Azerneftyaq Oil Refinery, starting from January 2015, the vice-president for Regime, Human Resources and Information Technology, Halik Mamedov, said today."From 1 of January 2015 the Azerneftyaq refinery will be attached to the Baku Oil Refinery and will stop working by the order of the president of the company from December 24, 2014," the vice-president of SOCAR said.The reason for the closure of one of the company's refineries was that some business processes were being duplicated and thus required additional costs that have been found ineffective from an economic point of view, Mamedov said.There are two oil refineries operating in Azerbaijan: Azerneftyaq and the Baku Oil Refinery named after Heydar Aliyev. Their total refining capacity is 22 million tons per year, and both of them are part of the structure of SOCAR.
"From 1 of January 2015 the Azerneftyaq refinery will be attached to the Baku Oil Refinery and will stop working by the order of the president of the company from December 24, 2014," the vice-president of SOCAR said.
The reason for the closure of one of the company's refineries was that some business processes were being duplicated and thus required additional costs that have been found ineffective from an economic point of view, Mamedov said.
There are two oil refineries operating in Azerbaijan: Azerneftyaq and the Baku Oil Refinery named after Heydar Aliyev. Their total refining capacity is 22 million tons per year, and both of them are part of the structure of SOCAR.
