This year Petkim produced additionally 400,000 tons

Baku. 25 December. REPORT.AZ/ This year Petkim petrochemical complex has manufactured 400,000 tons of additional product.

Report informs, Anar Mammadov, Director General of Petkim Holding, mainly owned by the State Oil Company of Azerbaijan Republic (SOCAR), said in Piyasa hattı telecast on the Bloomberg HT.

According to him, usage index of Petkim production capacity now makes 97%. Director General noted that this figure was 89% last year.

He said that outgoing year was very successful for Petkim.

Speaking about the 2018 forecast, Mammadov said that the biggest target for next year is to preserve the successful results achieved in 2017: "Next year looks like a riskier year. Fluctuations in prices of petrochemical products are predicted. Our goal is to be independent of market conditions”.

Director General said that the STAR Oil Refinery, which will be commissioned next year, will have a positive effect on Petkim: "At present, we buy 2 mln. tons of naphtha at market. After the start of production at STAR oil refinery, the enterprise will fully supply Petkim with a raw material. This will give us additional investments. We think that 2018 year will be successful”.

Talking about eurobonds emission plan worth $ 500 mln, Mammadov said that these bonds are issued to buy share in STAR refinery: “We want to represent Petkim Holding at the STAR Management Board. We want Petkim to have a voting right in the refinery. It's still too early to speak about exact volume of shares”.