SOCAR Turkey talks on prospects for new line of production at Petkim

Oil&Gas Materials 26 January 2022 14:09 (UTC +04:00)
SOCAR Turkey talks on prospects for new line of production at Petkim

BAKU, Azerbaijan, Jan.26

By Leman Zeynalova – Trend:

Petkim petrochemical complex of SOCAR Turkey attaches importance to production of new products tailored to client demand and market feedback, 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.

“For example, we offered clients masterbatch PPA in 2021 and got positive feedbacks. Currently, the petrochemical complex produces around 60 different types of products at 15 main production facilities and six auxiliary facilities. Petkim produces products of high demand such as ethylene, propylene benzene, orthoxylene, paraxylene, acrylonitrile (ACN), PTA, MEG, Low Density Polyethylene (LDPE), High Density Polyethylene (HDPE), Polyvinylchloride (PVC), Polypropylene and masterbatch,” he added.

Mammadov went on to add that despite the negative developments in the petrochemical industry on a global scale, Petkim was able to achieve high results in all three quarters of 2021.

“In the third quarter of 2021, we increased our total sales for 9 months to 19.165 billion Turkish liras, despite the increase in the cost of producing petrochemical products and the decrease in profit margins. During this period, when the demand for petrochemical products was growing and there was a shortage of supplies, Petkim was able to create added value by continuing its production with the principle of vertical integration with the STAR Refinery. At a time when product diversity and uninterrupted production have a significant impact on overall sales, we have increased our production capacity efficiency from 89.5 percent to 92.2 percent, achieving a significantly higher result than in 2020,” he noted.

Mammadov went on to add that in particular, in the second quarter of 2021, the company achieved the best quarterly results in the history of Petkim, with a net profit of 1.325 billion Turkish liras.

“In the corresponding period, we achieved the highest figures in the history of the company, increasing the total turnover of Petkim to 7.397 billion Turkish liras,” he added.


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