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STAR Refinery, Petkim among Turkey’s 500 largest industrial enterprises

Oil&Gas Materials 27 May 2021 12:49 (UTC +04:00)
STAR Refinery, Petkim among Turkey’s 500 largest industrial enterprises

BAKU, Azerbaijan, May 27

By Leman Zeynalova - Trend:

Istanbul Chamber of Industry has listed STAR Oil Refinery of Azerbaijan’s state oil company SOCAR in Turkey the sixth among Turkey’s 500 largest industrial enterprises as of 2020, Trend reports citing Turkish media.

Petkim Petrochemical Complex of SOCAR Turkey came in 23rd in the abovementioned list.

Reportedly, STAR Refinery’s 2020 sales stood at 24.3 billion Turkish liras ($2.8 billion), while Petkim’s performance in sales was 8.732 billion Turkish liras ($1.03 billion).

Earlier, Aegean Region Chamber of Industry listed STAR Oil Refinery and Petkim the first and third among 100 largest industrial enterprises of the region, respectively.

Star Refinery, with investment value of $6.3 billion came on stream in October 2018. Around $3.3 billion of the project’s cost was covered by loans. The total investment in Star Refinery is expected to stand at $7 billion.

The annual processing capacity of Star Refinery is 10 million tons. It meets around 25 percent of Turkey’s refined oil products. The refinery is able to process 214,000 barrels of crude oil per day.

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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Follow the author on Twitter: @Lyaman_Zeyn

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