BAKU, Azerbaijan, May 7
By Leman Zeynalova – Trend:
Petkim Petrochemical Complex of Azerbaijan’s state oil company SOCAR in Turkey has increased its production capacity to 92 percent, Trend reports with reference to SOCAR.
Its total revenue reached 5 billion Turkish liras ($602.84 million) in the first three months of 2021 with 66 percent of sales accounting for the domestic market.
Petkim met the needs of Turkey’s domestic market and improved its financial performance in Q1 2021 despite the adverse impact of the COVID-19 pandemic.
This success was achieved thanks to Petkim’s integrated operation with SOCAR’s STAR Oil Refinery. During this period, STAR Refinery operated at full capacity and uninterruptedly supplied naphtha to Petkim.
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.
---
Follow the author on Twitter: @Lyaman_Zeyn