Two SOCAR assets in Turkiye among 100 best companies

The STAR refinery of the State Oil Company of Azerbaijan (SOCAR) has taken first place in the rating of 100 companies prepared in 2021 by the Aegean Region Chamber of Industry, Report informs referring to Turkish media.

Petkim Holding, another SOCAR production company in Turkiye, ranks third in the same rating.

SOCAR Turkey Enerji CEO Zaur Gahramanov noted that with the growth in demand for petrochemical products in 2021, there was a shortage of supply: “During this period, SOCAR Turkey group companies continued to support local industrialists by introducing their products to the Turkish market.”

The opening of STAR took place on October 19, 2018. The foundation of the plant was laid on October 5, 2011. STAR has the first strategic investment promotion document in Turkiye. From September 2019, the plant began to operate at full capacity. The annual capacity of the crude oil refinery has increased from 10 million tons to 11 million tons this year.

SOCAR Turkey Enerji (SOCAR’s subsidiary in Turkiye) owns a controlling stake in Petkim Petrokimya Holding. Petkim was founded on April 3, 1965 and is Turkiye’s leading petrochemical complex. The complex produces ethylene, polyethylene, polyvinyl chloride, polypropylene and other petrochemical products that are used in the production of plastic mass, textiles, other consumer and industrial products. Petkim shares are listed on the Istanbul Stock Exchange.