Petkim achieves record high profit
Net profit of Turkey’s petrochemical company Petkim, where the Azerbaijani state oil company SOCAR owns a controlling stake, amounted to 356 million Turkish liras in the second quarter of this year. Thus, the net profit increased by 183 percent compared to the first quarter.
Net sales of Petkim increased by 25 percent to 2.3 billion liras in April-June 2018.
Petkim’s EBITDA increased by 80 percent to 439 million liras.
The production capacity of the enterprise was used by 96 percent in the reported period.
“Successful operations, fruitful cooperation and investment in technologies are the keys to successful results. In general, 2018 is a watershed year for us. STAR oil refinery, to start its operations in 4Q 2018, will fully satisfy our needs in raw materials,” General Manager of Petkim Anar Mammadov as saying.
He noted that at the moment Petkim satisfies 20 percent of Turkey’s needs in petrochemical products.
Petkim produces PP, PE, PVC of such products. The production capacity of Petkim is 3.6 million tons per year. The complex includes 14 plants that produce 20 different types of products.
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