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Azerbaijan's STAR Refinery among 3 biggest enterprises in Turkiye

25 June 2024 15:53 (UTC+04:00)
Azerbaijan's STAR Refinery among 3 biggest enterprises in Turkiye
Ulviyya Shahin
Ulviyya Shahin
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The STAR oil refinery, a State Oil Company of Azerbaijan (SOCAR) asset in Turkiye, achieved a position among the top three enterprises in Turkiye in 2023, as per the Istanbul Chamber of Industry rankings, Azernews reports citing Anadolu Agency,

In the "500 largest industrial enterprises in Turkiye in 2023" study by the Istanbul Chamber of Industry (ICI), Turkiye's largest industrial enterprise title remained with Turkiye Petrol Rafinerileri AS (TUPRAS) at the end of 2023, recording sales from its own production totaling 484.2 billion liras ($14.7 billion).

Ford Automotive, previously ranked third in 2022, advanced to second place with sales amounting to 238 billion liras ($7.220 billion).

STAR Refinery, which held the second position in 2022, dropped to third place last year with production sales reaching 226.8 billion liras ($6.88 billion).

The top 10 list also featured Istanbul Refinery, Toyota Automotive, Oyak-Renault, Arcelik, Mercedes-Benz Turk AS, Gram Kiymetli Madenler A.S., and Eregli Demir ve Celik Fabrikalari TAS.

Opened on October 19, 2018, the STAR refinery has a capacity of 13 million tons and processes oil types including Azeri Light, Kirkuk, and Urals. It supplies raw materials to the Petkim petrochemical complex and enables SOCAR to enter the Mediterranean market with diesel fuel, jet fuel, and chemicals.

SOCAR's investment in the construction and development of the STAR refinery totaled approximately $7 billion.

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