Politics

​Petkim sees rise in production

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Turkey’s first and only integrated petrochemical plant, Petkim, a subsidiary of the State Oil Company of the Azerbaijan Republic (SOCAR), operated successfully in the first quarter of 2020, Report informs.

Petkim continued production and trading operations during the pandemic.

Thanks to STAR Refinery, Petkim increased production by 2% to 802,000 tonnes.

In spite of the slowdown in global markets, high volatility in the exchange rate, and low prices, Petkim earned TRY 2.8 billion from the sale.

Anar Mammadov, General Manager of Petkim, mentioned the role of joint working with STAR in successful financial performances: “We got naphta from STAR without any problem, while there was a global deficit of crude in many companies. We once again saw the effectiveness of the integration during the pandemic and benefited from its advantage.”

Report

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