Azernews.Az

By Sara Israfilbayova

The petrochemical complex Petkim, a subsidiary of the Azerbaijani state oil company SOCAR in Turkey, with a profit of 4.532 billion lira ($1.28 billion) entered the TOP-500 largest enterprises of Turkey, taking 39th place in the ranking of the Turkish newspaper Capital.

The top ten included such companies as Tüpraş, OMV Petrol Ofisi, Turkish Airlines, Opet Petrolculuk, BIM, Ford Otosan, Shell & Turcas Petrol, Türk Telekom, Arçelik and Türkcell.

Petkim took the 17th place with a profit of 4.153 billion lira ($1.17 billion) in the end of 2016.

Subsidiary of Azerbaijan State Oil Company SOCAR in Turkey, Petkim, produces plastic packages, fabrics, detergents, and is the sole Turkish manufacturer of such products, a quarter of which is exported to the United States, and countries in Europe, the Middle East, Africa, and Asia. The complex includes 14 plants that produce 20 different types of products. The production capacity of Petkim is 3.6 million tons of products per year.

SOCAR began its activity in Turkey after privatization of Petkim Holding in 2008 and has been operating under brand name of SOCAR Turkey. The company was acquired by SOCAR as a result of a tender of privatization.

Petkim shareholders include SOCAR Turkey Petrokimya A.Ş. with a share of 51 percent, SOCAR Turkey Energy with 1.32 percent and 47.68 percent within free float.

SOCAR is a wholly state-owned national oil company headquartered in Baku, Azerbaijan. The company produces oil and natural gas from onshore and offshore fields in the Azerbaijani section of the Caspian Sea.

SOCAR participates in joint ventures (including ventures in Georgia and Turkey), consortia, and operating companies established with SOCAR’s participation.

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