Socar Suspends Planning for OGPC; Will Upgrade Refinery & PC Assets

摘要

Baku—State Oil Co. of Azerbaijan Republic (Socar) is putting plans for its $17-billion oil and gas processing and petrochemical complex (OGPC) on hold because of the drop in oil prices, according to local media reports. The OGPC, planned near Baku, Azerbaijan, involved a 10-million-t/y refinery, a 10-billion-cu m/yr gas processing plant, an 800,000-t/y polyethylene plant and a 300,000-t/y polypropylene unit. Several foreign firms, including Mitsui & Co., had expressed interest in the project.