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SOCAR’s Petkim has little room for increasing capacity

Oil&Gas Materials 30 March 2021 14:17 (UTC +04:00)
SOCAR’s Petkim has little room for increasing capacity

BAKU, Azerbaijan, March 30

By Leman Zeynalova – Trend:

Petkim petrochemical complex of Azerbaijan’s state oil company SOCAR is the only producer of petrochemical raw materials in Turkey, but its market share is still 18 percent, Trend quoted Head of the SOCAR Turkey Refinery and Petrochemicals Business Unit and General Manager of Petkim Anar Mammadov as saying.

“Around 82 percent of Turkey’s demand for petrochemical raw materials accounts for imports. Turkey needs five such complexes as Petkim to fully over its demand. Petkim operates at full capacity to meet the growing demand. There are some possibilities for capacity increase but not too big. Therefore, Turkey needs new investments in this sphere,” he told Turkish media.

Mammadov stated that there were some disruptions in the supply chain in the petrochemical sphere, but Petkim was able to ensure uninterrupted production thanks to STAR Refinery.

Demand for Petkim’s products increased, because some of its products are used in the production of medical goods.

“We saw a 17 percent increase in the demand for thermoplastic products. During this period, we worked hard to meet the needs of the domestic market. Being the export champion every year, Petkim came in second in 2020, as its was focused primarily on the domestic market,” Mammadov said.

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.

Petkim saw a 14 percent increase in net profit in 2020, as compared to 2019. Petkim’s financial success was achieved as a result of the integrated production with Star Refinery, as wells as the measures to increase productivity and digitalization.

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Follow the author on Twitter: @Lyaman_Zeyn

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