BAKU, Azerbaijan, June 25. The STAR refinery, under the wing of the State Oil Company of Azerbaijan (SOCAR), made it into the top three companies in Türkiye in 2023, as per the Istanbul Chamber of Commerce's (ISO) rating, Trend reports via Turkish media.
According to Türkiye's 500 Industrial Enterprises 2023 ranking released by ISO, Türkiye Petrol Rafinerileri AS (TUPRAS) refinery held onto the crown as the nation's key industrial enterprise, raking in a whopping 484.2 billion liras ($14.7 billion) in sales by 2023.
Ford Automotive, which climbed the ranks like a rocket, went from third place in 2022 to second place in 2023, raking in a staggering 238 billion liras ($7.22 billion) in sales.
The STAR refinery, which ranked second in this ranking in 2022, became third at the end of 2023, with sales volume of production products amounting to 226.8 billion liras ($6.88 billion).
The TOP 10 also included Istanbul Refinery, Toyota Automotive, Oyak-Renault, Arcelik, Mercedes-Benz Turk AS, Gram Kiymetli Madenler A.S., Eregli Demir ve Celik Fabrikalari TAS.
To note, the STAR refinery has been in operation since 2018 (construction cost $7 billion). Its current refining capacity is nearly 13 million tons of oil (Azeri Light, Kerkuk and Urals) per year.
The refinery feeds Petkim's petrochemical complex with all the naphtha, keeping it well supplied.
The remaining types of petroleum products, including diesel fuel and jet fuel, go both to the Turkish domestic market and for export to the Mediterranean region.
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