Russia will supply Turkey 1 million tons of oil annually starting December 2018

Starting December 2018, 1 million tons of Russian oil will be supplied to SOCAR’s Star Refinery in Izmir, annually. Azerbaijani state company SOCAR which is the largest foreign investor in Turkey is to sign an important agreement. Russian oil will flow to the SOCAR refinery is expected to become operational in the coming months. ROSNEFT, one of Russia’s largest oil companies has signed an agreement with SOCAR. The agreement was signed on the official visit of Azerbaijan President Ilham Aliyev and his accompanying delegation to Russia.

Russian President Vladimir Putin met in Sochi city with where Putin has agreed to supply 1 million tons of oil to Turkey. The agreement was signed by Socar President Rovnag Abdullayev and Rosneft President Igor Sechin. According to said contract, 1 million tons of Russian oil per year will be supplied to SOCAR’s Star Refinery in Izmir starting December, this year.

SOCAR plans to make its STAR refinery in Turkey operational in October. The annual processing capacity is planned as 10 million tons.