Azerbaijan plans to set up modern refineries outside Baku, said Rovnag Abdullayev, the President of the State Oil Company of Azerbaijan (SOCAR).

According to him, the refineries are planned to refine oil products as well as gasoline that meet modern standards.
“Azerbaijan is now producing gasoline in line with the European standards. We have abandoned the plans to upgrade refineries in the city. By the order of the Head of State, we intend to build large refineries outside the city, he added.
He also said that SOCAR has made some adjustments in the planned projects due to the fall in oil prices.
In his words, despite the drop in oil prices, most projects are being implemented.
However, the implementation of some projects has been dropped from the investment program for 2009.
Abdullayev said that the drop in oil prices will not impact on the price of fuel on the domestic market.
In Azerbaijan, the wholesale price of diesel fuel (L-62) is AZN 485 per metric ton (including VAT) kerosene (TC-1) is AZN 307 per metric ton, motor gasoline AI-80 and AI-92 is AZN 670 per metric ton, AI-95 motor gasoline is AZN 736 per metric ton, furnace fuel (K-4) is AZN 472 per metric ton.
Baku. Rashad Suleymanov - APA-ECONOMICS