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SOCAR Türkiye plans to suspend operation of STAR oil refinery for maintenance in 2024

SOCAR Türkiye plans to suspend the operation of the STAR Oil Refinery for maintenance in 2024, Acting CEO of SOCAR Türkiye Elchin Ibadov said at the press conference, Trend reports.

According to Ibadov, the work of the refinery will be suspended for the first time after commissioning and first of all scheduled maintenance work will be carried out.

"As a result of the measures taken to date, we plan to increase the frequency of plant shutdowns from four to five years. This will save us up to $40 million," Ibadov said.

The investment value of the STAR Oil Refinery is $6.3 billion. Moreover, about $3.3 billion of the project cost was covered by loans.

Source: Trend News Agency