BAKU, Azerbaijan, May 25
By Leman Zeynalova – Trend:
STAR Oil Refinery of Azerbaijan’s state oil company SOCAR in Turkey topped the list of the 100 largest industrial enterprises of Turkey’s Aegean Region in terms of sales volume, Trend reports with reference to the estimations of the Aegean Region Chamber of Industry.
Petkim petrochemical complex, another enterprise of SOCAR in Turkey, came in third, following Tupraş Izmir Oil Refinery.
Aegean Region Chamber of Industry says STAR Refinery’s sales in the region exceeded 24 billion Turkish liras ($2.8 billion), followed by Tupraş Izmir Oil Refinery with 15.1 billion liras ($1.7 billion) and Petkim petrochemical complex with 8.7 billion liras ($1.03 billion).
Star Refinery, with investment value of $6.3 billion came on stream in October 2018. Around $3.3 billion of the project’s cost was covered by loans. The total investment in Star Refinery is expected to stand at $7 billion.
The annual processing capacity of Star Refinery is 10 million tons. It meets around 25 percent of Turkey’s refined oil products. The refinery is able to process 214,000 barrels of crude oil per day.
Petkim is the first and the sole integrated petrochemical facility in Turkey. It is the largest exporter in the Aegean region. Petkim’s production capacity is 3.6 million tons per year. The petrochemical complex produces around 60 different types of products and exports to 78 countries. The complex meets about 20 percent of Turkey’s demand for petrochemical products.
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