Socar to stop crude exports next year to increase gasoline output

Azerbaijan’s state oil company Socar will stop crudeexports next year to increase gasoline production as domestic demand for thefuel is growing, said Davud Mammadov, the company’s vice president forrefining.

“Azerbaijan’s demand for gasoline is growing as thenumber of cars is on the rise,” Mammadov was quoted as saying by APA newsagency.  “Therefore, the state oilcompany will next year stop the exports of its own share of crude oil fully anduse the fuel to produce gasoline.”

Socar produced 6.24 million tons of oil in the firstnine months of the year, up from 6.17 million tons a year earlier.

ANN.Az