BAKU, Azerbaijan, November 14. The Petkim petrochemical complex of SOCAR Türkiye reported a net profit of 221.2 million Turkish lira ($8.2 million) in the second quarter of 2023, Trend reports.
According to Petkim's report, the profit growth was 68.7 percent, or 90.4 million lira ($3.3 million), compared to the first quarter. The company's profit in the first quarter was 130.8 million lira ($4.8 million).
Moreover, Petkim's profit increased by 70 percent by the end of 2022.
SOCAR Türkiye started its commercial activity in Türkiye after acquiring 51 percent of Petkim shares in 2008. It includes best-in-class companies such as Petkim, TANAP, STAR Refinery, SOCAR Terminal, Petkim RES (wind farm), Bursagaz, Kayserigaz, Enervis, SOCAR Enerji Ticaret, Millenicom, SOCAR Ticaret, and SOCAR Depolama.
In general, the company focuses on the production of petrochemical products and the processing, trading, and distribution of natural gas.