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Petkim marks increase in share of domestic sales

Oil&Gas Materials 3 March 2021 11:33
Petkim marks increase in share of domestic sales

BAKU, Azerbaijan, March 3

By Leman Zeynalova – Trend:

The volume of sales by Petkim petrochemical complex of Azerbaijan’s state oil company SOCAR in Turkey reach 12.1 billion Turkish liras in 2020 and the share of domestic sales rose from 60 percent in 2019 to 67 percent in 2020, Trend quoted Head of the SOCAR Turkey Refinery and Petrochemicals Business Unit and General Manager of Petkim Anar Mammadov as saying.

“Working in integration with STAR Refinery, Petkim ensured uninterrupted production and particularly met the needs of domestic consumers. Since we focused on the domestic market, our exports fell by 50 percent from $662 million in 2019 to $363 million in 2020. But as a result of the uninterrupted operation to meet the domestic demand, our sales volume of revenues increased as compared to 2019,” said Mammadov.

Despite the challenges caused by the COVID-19 pandemic and a 20 percent decrease on average in the dollar price of the products in its portfolio, Petkim’s revenues rose by 21 percent in 2020 year-on-year and stood at 1.9 billion Turkish liras, he added.

Petkim is the first and the sole integrated petrochemical facility in Turkey. It is the largest exporter in the Aegean region. Petkim’s production capacity is 3.6 million tons per year. The petrochemical complex produces around 60 different types of products and exports to 78 countries. The complex meets about 20 percent of Turkey’s demand for petrochemical products.

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