Turkish subsidiaries of Azerbaijan’s state petroleum firm Socar are preparing the ground for a new refinery that will turn the Petkim petrochemicals site at Aliaga into one of Europe’s largest integrated downstream complexes. Besides producing fuels for the local market, the refinery will supply naphtha and chemical feedstocks to the Petkim complex, which currently relies on imports.

Petkim – owned 51% by Socar Turkey and 10.32% by Socar Izmir Petrokimya, with 36.68% of the shares being publicly traded – last year completed 45% of site preparations and 85% of excavation in readiness for construction of the 200,000 b/d Socar Turkey Aegean Refinery (STAR). (CONTINUED - 540 WORDS)