BAKU, Azerbaijan, Jan.25
By Leman Zeynalova – Trend:
SOCAR Turkey, a subsidiary of Azerbaijan’s state oil company, is working on new ideas to even more improve the operation integration of STAR Refinery and Petkim petrochemical complex and looking into new opportunities, Head of the SOCAR Turkey Refinery and Petrochemicals Business Unit, director general of Petkim petrochemical complex Anar Mammadov said in an exclusive interview with Trend.
“The operation integration of Petkim and STAR Refinery was completed in the past years. We feel the synergy of that integration more and more every day. As the Refinery and Petrochemicals Business Unit, we operate in strategic areas in Turkey. For this reason, during the COVID-19 period, on the one hand, we took measures to protect the health of all our employees and partners, and on the other hand, we continued our activities without interruption. We have seen great benefits from the integration of Petkim and the STAR Refinery in continuing our operations. Despite the difficulties in the global supply chain, Petkim received naphtha, the main raw material, from STAR Oil Refinery,” he explained.
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.
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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