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Sberbank cannot confirm talks with Azeri Socar on refinery sale

April 17/2019

MOSCOW (MRC) -- German Gref, the head of Russiaís largest lender Sberbank, said he could not confirm if the bank was in talks with Azerbaijanís state energy company Socar about a possible sale of the Antipinsky oil refinery, reported Reuters.

"I do not confirm this," Gref told reporters when asked if he could comment on earlier media reports that Sberbank, Antipinskyís main creditor, was in talks about handing over control of the refinery to Socar.

As MRC informed previously, in October 2018, Azeri state energy company SOCAR started up its new oil refinery in Turkey. The USD6.3 billion Star refinery, the first in Turkey built in 30 years, will supply feedstock to Turkish petrochemicals firm Petkim to help to cut Turkeyís dependence on imported refined oil products. It will boost Turkish refining capacity by 30 percent. The plant on Turkeyís Aegean coast has capacity to process about 10 million tonnes per year (200,000 barrels per day) of crude.

SOCAR, which is keen on expanding operations in the retail oil products market abroad, is involved in exploring oil and gas fields, producing, processing, and transporting oil, gas, and gas condensate, marketing petroleum and petrochemical products in the domestic and international markets, and supplying natural gas to industry and the public in Azerbaijan.
Author:Margaret Volkova
Tags:PVC, PP, PE, crude and gaz condensate, propylene, ethylene, petrochemistry, Petkim, SOCAR Polymer, Azerbaijan, Turkey.
Category:General News
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