Future plans for Petkim petrochemical complex revealed

Oil&Gas Materials 24 January 2020 17:18 (UTC +04:00)
Future plans for Petkim petrochemical complex revealed

BAKU, Azerbaijan, Jan.24

By Leman Zeynalova – Trend:

Petkim petrochemical complex broke production records with 3.4 million tons of gross production in 2019 and the aim is to continue this success in 2020, Zaur Gahramanov, CEO of SOCAR Turkey told Trend.

He pointed out that despite the contraction both in general terms and in the petrochemical field in the world markets in the third quarter of 2019, Petkim's financial results were quite good.

“Petkim petrochemical complex, the majority stake of which we acquired in 2008, is still the first and only integrated petrochemical plant in Turkey. Petkim, which is the the most reliable supplier of Turkey’s petrochemical market, produces nearly 60 different petrochemical products at 15 major and six auxiliary facilities. We are constantly evaluating investment options to process intermediate products and convert them into different products at Petkim,” he said.

“With Petkim's 55 years of experience and R&D Center, we continue our research and business development activities to expand our petrochemical portfolio with our established facilities or additional investments. In this year's focus, there are alternative evaluation options for our products and synergies as a result of integration between STAR Refinery and Petkim,” added Gahramanov.

Incorporated in 1965, Petkim maintains its business operations as the first and only integrated petrochemical producer of Turkey. Producing approximately 60 petrochemical products at its production facilities in Aliaga, Izmir, Petkim provides contributions to national industry and production.

SOCAR Turkey acquired and made Petkim focal point of its investments in 2008.

The petrochemical products, produced by Petkim, are used in several industrial branches such as automotive, electrics, electronics, agriculture, packaging, textile, pharmaceutics, paints, construction, detergent and cosmetics.


Follow the author on Twitter: @Lyaman_Zeyn