Investments made last year to optimize Petkim's activities were announced

The State Oil Company of Azerbaijan (SOCAR) invested 3.2 billion Turkish liras ($99.2 million at the current exchange rate) in the development of the Petkim Petrokimya Holding petrochemical complex in Türkiye in 2023, Report informs citing Petkim Petrokimya Holding's annual report on the results of its activities in 2023.

Taking into account that the investments made in the development of the complex in 2022 amount to 4.11 billion Turkish liras ($120 million), according to the results of the last year, their volume has decreased by 22.1%.

According to the report, Petkim's production volume in 2023 was 2.3 million tons (4.5% more). During the reporting period, the holding sold 1.88 million tons of petrochemical products (2.6% more). Petkim's share in the Turkish petrochemical market was 12% last year. The production capacity utilization rate of the complex was 66.1% in 2023 against 63.9% in 2022.