Saudi Arabia may invest in Azerbaijan as SOCAR boosts refining complexity

摘要

Representatives of the two countries began discussing opportunities for cooperation in refining and petrochemical businesses at the OPEC meeting on Nov. 30. Meanwhile, Azerbaijani national oil company SOCAR announces to increase the depth of refining at its 6MM-mt/y (120K-b/d) Heydar Aliyev Baku refinery from 2016's 89.5% to 92%, as of Nov. 30. Throughout 2018, the company plans to maintain this level, which was achieved by abandoning fuel oil production.