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SOCAR plans to increase Petkim’s share in Turkish market

SOCAR plans to increase Petkim’s share in Turkish market
16:57 12 May 2015
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Baku, Azerbaijan, May 12

By Azad Hasanli – Trend:

The State Oil Company of Azerbaijan plans to increase the share of Petkim petrochemical complex in Turkish market by 40 percent by 2023, SOCAR president said.

President of SOCAR Rovnag Abdullayev made the remarks during the B20 Regional Consultation Forum in Baku May 12.

He added that the oil and gas pipelines constructed in a short time also play an important role in the transportation of oil to the global markets from Turkmenistan and Kazakhstan.

Azerbaijan today fully ensures its energy security and makes a significant contribution to ensuring the energy security of Georgia and Turkey, Abdullayev said.

“SOCAR also takes serious steps in ensuring EU energy security,” said the company’s president, adding that despite the instability on the global energy resources’ market, this work continues.

Petkim Petrokimya Holding manufactures plastic packages, fabric, PVC and detergents. It is the only Turkish producer manufacturing such products. The company exports a quarter of its products.

SOCAR Turkey Enerji A.S and SOCAR International DMCC OGG acquired a 10.32 percent stake in Petkim on March 30, 2012, increasing SOCAR's stake in the company to 61.32 percent. Some 38.67 percent is in free circulation on the Istanbul Stock Exchange.

Edited by SI

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Follow the author on Twitter: @AzadHasanli

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