Turkey gives go-ahead for latest Ceyhan refinery

02 August 2007 17:30  [Source: ICIS news]

PRAGUE (ICIS news)--Turkey’s energy market regulatory authority said on Thursday it has given the green light to Azerbaijan’s Socar and Turkey’s Turcas to build an oil refining/petrochemical complex at the Mediterranean port of Ceyhan.

The facility, set to cost $4.5bn (€3.3bn), will have a processing capacity of 10m-20m tonnes/year of crude.

Ceyhan lies at the end of the new Baku-Tbilisi-Ceyhan (BTC) oil pipeline, which brings some 800,000 bbl/day of crude from Azerbaijan to Turkey.

Recently, Austria-based OMV received permission to establish a 10-15m tonne/year facility in collaboration with Turkey’s Petrol Ofisi, while Indian Oil Corp is working with Turkey’s Calik Holding to build a 15m tonne/year facility.

By: Will Conroy
+44 20 8652 3214

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