BAKU, Azerbaijan, November 9. Petkim petrochemical complex, under Azerbaijan’s state oil company SOCAR, experienced a remarkable surge in net sales during the third quarter of 2023, Trend reports via the company.
The net sales soared from 10.6 billion Turkish liras (approximately $372 million) in the second quarter to an impressive 13.2 billion liras ($462.3 million) in the third quarter, showing a 24 percent increase.
Looking ahead, SOCAR Türkiye is optimistic about the future of the Petkim petrochemical complex in 2024. Kanan Mirzayev, Acting Head of SOCAR Türkiye's Refinery and Petrochemical Business Unit, and Acting General Manager of Petkim, expressed confidence in the upcoming year.
"While we anticipate an even more positive outlook for 2024, we await our year-end financial results to provide a comprehensive assessment. In 2024, the performance of both the sector and Petkim will be contingent on global interest rate policies, the demands of countries, especially China, and energy prices,” he said.
Petkim, being the first and sole integrated petrochemical facility in Türkiye, holds a significant position as the largest exporter in the Aegean region. With a production capacity of 3.6 million tons per year, the complex offers a diverse range of 60 different products, exporting to 78 countries. Impressively, Petkim caters to about 20 percent of Türkiye’s demand for petrochemical products.
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