Net profit of SOCAR’s Petkim increases

  13 October 2017    Read: 361
Net profit of SOCAR’s Petkim increases

Net profit of Petkim petrochemical complex, which is a subsidiary of Azerbaijan’s oil state company SOCAR in Turkey, has increased by about 10 percent since early 2017, Anar Mammadov, Petkim director general, said.

Mammadov made the remarks at the Argus Azerbaijan International Petroleum Summit 2017 in Baku Oct. 13.

He added that Petkim has obtained profit since 2015, which is primarily connected with a fall in oil prices, as the main raw material for the plant is naphtha.

Petkim produces plastic packages, fabrics, detergents, and is the sole Turkish manufacturer of such products, a quarter of which is exported. The production capacity of Petkim is 3.6 million tons of products per year.

Petkim shareholders are: SOCAR Turkey Petrokimya AS (51 percent), US Goldman Sachs bank – 7.68 percent, other shareholders – 41.32 percent.

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