OREANDA-NEWS. March 10, 2010. The State Oil Company of Azerbaijan (SOCAR) is ongoing consideration of proposals for purchase of refineries abroad.

SOCAR Investment Department’s head Vagif Aliyev says that in connection with economic situation throughout the world oil refining in many regions of the world is unprofitable but nevertheless they received many refinery stake proposals.

“Among the countries which made them are not only Romania and Italy. But making of a decision on the matter demand its complex consideration, in particular on technical, investment and commercial aspects. Such study has not been completed yet,” he said.

Currently SOCAR is in the process of preparation for construction of refineries in Turkey.