APA-Economics reports quoting Turkish media that negotiations have already started on the purchase of shares of Turcas Petrol (subsidiary of TURCAS Rafineri Yatirimlari A.S) in this project. Thus, Turcas Group will sell 13.5% of its 18.5%-share to the Azerbaijani company.
Results of the sale will be known after the agreement is signed between two companies. According to initial information, if the sale is realized, a share of Turkish company will make 5$.
Star Oil Refinery will produce 10m tonnes of oil products per year. Currently, Rafineri Holding A.S has 41.5% -equity of oil refinery, Turcas Group - 18.5%, SOCAR – 40%.