Azerbaijan interested in building refineries in foreign countries

Azerbaijan has received more proposals for the construction of oil refineries in foreign countries in recent years. And what is remarkable, interest in building refineries in their territory is more often shown by countries that do not have oil resources, or have them in small quantities.

So, at various times Kyrgyzstan, Tajikistan, Ukraine and Georgia turned to SOCAR for the joint construction of oil refinery projects. These countries are seeking to build refinery in their territory in order to reduce dependence on oil products supplies from other countries, to ensure their own energy security and export products abroad. Some of them call construction of the refinery a social project which will allow to create more jobs, increase incomes and, therefore, increase taxes to budget.

Appeal of these states to Azerbaijan is justified, because the country has vast experience in the oil sector. But at the same time, Azerbaijan, as the oil-producing country, and possessing all the necessary resources, has itself priority plans for modernization of existing oil-refining capacity and building new refinery.