BAKU, Azerbaijan, August 12. Petkim petrochemical complex of Azerbaijan’s state oil company SOCAR in Türkiye has completed the first half of 2022 with a net profit of 4.3 billion liras ($239.4 million), an increase of 93 percent compared to the same period of 2021, Trend reports with reference to SOCAR Türkiye.
Reportedly, despite the decrease in product profitability and planned shut down, this success was achieved thanks to the agile management approach, effective marketing strategy, financing methods.
In the first half of the year, Petkim managed to minimize its risks by reacting to the increase in the exchange rate by effectively using the Currency Protected Deposit system. Successful management was demonstrated in sales of commercial products. Thanks to effective marketing strategies and a wide product range the decline in product profitability in global markets did not affect the overall profitability of the company. Continuing its uninterrupted integrated production with STAR Refinery, Petkim met the demand of the domestic market without interruption.
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