Turkey, PolymerUpdate

SOCAR sells a part of its share in Petkim

A subsidiary of Azerbaijani state-owned company SOCAR in Turkey - SOCAR Turkey Enerji A.S. – has sold a part of its stake in Turkish petrochemical complex Petkim.

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By 2023 SOCAR to provide 20% of investment into the energy sector of Turkey

By 2023 SOCAR will provide 20% of investment into the energy sector of Turkey, the head of SOCAR, R. Abdullaev, said.

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Turkey is one of the key markets for the export of PP from ZapSibNeftehim.

The Turkish market would remain one of the key areas for the supply of polypropylene (PP) after the launch of ZapSibNeftehim, planned for 2019-2020, Andrey Zotov, the director of base polymers of SIBUR, stated at the 5th conference ICIS World Polyolefins in Vienna.
A. Zotov stated that much of the production from ZapSibNeftehim, which would be commissioned in the next five years, would be supplied to Turkey, despite the recent cooling of political relations between Moscow and Ankara.

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SOCAR plans to sell a part of its stake in Petkim

Socar Turkey Enerji  (affiliate of SOCAR in Turkey) plans to put up for sale a part of its stake in Petkim Petrokimiya Holding A.Ş. (Petkim) in March.
Socar Turkey Enerji that controls 57.5% in Petkim will offer for sale a part of its shares in March.
The respective structures have been informed of that.

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SOCAR approves a plan to strengthen the economy mode at the oil refinery.

The Azerbaijani state company SOCAR transfers Baku Oil Refinery named after H. Aliyev to the economy mode, the statement posted on its website informs.
The company will be implementing measures to optimize costs in the subsidiary and technological processes.

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Head of SOCAR got acquainted with the realization of company’s investment projects in Turkey

​The President of SOCAR, R. Abdullaev, has got acquainted with the realization of investment projects at the Petkim peninsula in Turkey by SOCAR Turkiye Enerji (affiliate of SOCAR).
The management of SOCAR was informed of the execution of works on the construction of the oil refinery plant STAR for 30%. In October 2015 the realization of the first stage of construction of the container port Petlim will be over. On the results of H1 the revenue of the oil chemicals complex Petkim made up 232 mln YTL.
SOCAR’s head said that the Petkim complex has completed H1 with quite successful results, productivity of the enterprise increased.
He was also satisfied with the fact that the construction of the STAR oil refinery plant and Petlim port is held according to the schedule.

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SOCAR Turkiye Enerji is about to become the second largest industrial company of Turkey

SOCAR Turkey Energji, an affiliate of SOCAR, plans to increase the volume of export up to $3 billion a year.
The company’s turnover will reach $15 billion, the volume of export - $3 billion, while the number of staff will increase up to 5 thousand people due to the launch of the oil refinery STAR in 2018.

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SOCAR intends to produce the first products at STAR oil refinery in Turkey in March 2018

SOCAR intends to produce the first products at STAR oil refinery in Turkey in March 2018, head of SOCAR Turkiye Enerji, K. Yavuz said.
Until now in the framework of the construction of the STAR oil refinery 29% of works have been carried out. From 2016 the assembly of the equipment will start. In total the investment amounted to about $2 bln in the framework of this project, he said.
According to K. Yavuz, 15 thousand people will be attracted at the various stages of this project. After putting it into operation, 1 thousand people will work at the plant.

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In January-June, export of plastic products in Russia grew by 15.4%

According to customs statistics, in January-June 2015, foreign trade turnover of Russia made up $270.7 billion and it decreased by 32.6% in comparison with January-June 2014. The trade balance showed a surplus of $95.3 billion, which is by 16.7 billion less than in January-June 2014.
In January-June 2015, the export of Russia amounted to $183.0 billion, decreased by 28.8% as compared with January-June 2014. In January-June 2015, the basis of the Russian export to the non-CIS countries was fuel and energy products, the share of which in the commodity structure of the export to these countries amounted to 68.1% (in January-June 2014 - 75.3%).
In January-June 2015, the cost volume of energy products decreased by 34.5% as compared with January-June 2014, and the physical - increased by 10.3%. Among the energy goods the volume of exports of crude oil increased by 11.5%, electricity - by 25.0%, oil products - by 20.2%, including: kerosene - by 39.3%, diesel fuel - 18.0%, liquid fuels - by 23.5%. At the same time, the export volume of natural gas was reduced by 4.1%, coal - by 1.2%.

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SOCAR’s affiliate has received 5 towing vehicles to maintain vessels at Petkim port

​SOCAR Turkiye Enerji (Turkish affiliate of SOCAR) has received 5 towing vehicles to maintain vessels at the Petkim port in the Aegean Sea, head of SOCAR Turkiye Enerji, K. Yavuz, said.
The construction of the port is at the final stage and in the near future this object meeting the highest standards of Turkey will be put into operation. To maintain container carriers at the Petkim port and in general to maintain the sea ports at the Nemrut Bay in the Aegean Sea we have 5 towing vehicles, K. Yavuz said.
The first stage of construction of the port will be over in September-October 2015, the 2nd- in 2016. The initial capacity of the port will be 1.5 mln containers a year with the plans of expansion to 4 mln containers a year.

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