Industry and Energy

Industry and Energy

Azerbaijanâ€™s President confirms composition of commission for preparing proposals on strategic development of oil and gas refining and petrochemical industry

24 September 2009 08:37 (UTC +04:00)

Baku â€“ APA. Azerbaijanâ€™s President Ilham Aliyev issued an order on â€œConfirming the composition of the commission for preparing proposals on the strategic development of oil and gas refining and petrochemical industryâ€, Presidentâ€™s press service told APA.

The preamble of the order underlines a number of important achievements in the oil and gas strategy in Azerbaijan Republic. Oil production was stabilized, production of natural and associated gas increased and energy security of the country was ensured. Oil and gas refining and petrochemical facilities meet the demands of the republicâ€™s economy at the cost of refining of hydrocarbon resources. Though the quality of oil refining has recently increased and reached the world standards, refining of natural and associated gas, the level of petrochemical facilities, sorts and quality of oil products do not meet the world standards yet. To solve the problems in oil and gas industry hydrocarbon resources should be refined in line with modern standards.

Taking into account these factors, to determine the priorities of further development of oil and gas refining and petrochemical industry and to prepare proposals grounded from economic and ecological aspect, President confirmed the composition of the commission for preparing proposals on the strategic development of oil and gas refining and petrochemical industry. Under the order, First Deputy Prime Minister Yagub Eyyubov has been appointed chairman of the commission, Economic Development Minister Shahin Mustafayev, Finance Minister Samir Sharifov, Industry and Energy Minister Natig Aliyev, Ecology and Natural Resources Minister Huseyngulu Bagirov, chairman of the State Committee for Property Issues Karam Hasanov, President of Azerbaijan National Academy of Sciences Mahmud Karimov, SOCAR President Rovnag Abdullayev, President of â€œAzerkimyaâ€ State Company Majid Karimov, director of petrochemistry department of the Cabinet of Ministers Rasim Dadashov have been appointed members of the commission. The commission is to prepare proposals and submit to President within three months.