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Petkim plans to buy stake in STAR refinery

by ChemOrbis Editorial Team -
  • 13/12/2016 (16:46)
According to the Turkish Public Disclosure Platform, Turkey’s Petkim carries on its negotiations with SOCAR Turkey Enerji A.S, a subsidiary of Azerbaijani state oil company SOCAR, to buy a stake in the Star oil refinery, which is being built in Petkim Peninsula in Turkey.

The discussions include Petkim’s acquisition of the 12-14% stake of Rafineri Holding, which currently owns 60% of the refinery project as a 100% subsidiary of Socar Turkey Enerji A.S. Accordingly, Petkim aims to own a 7-9% share in the Star refinery, the reports indicated.

The Star Refinery will reportedly produce 1.66 million tons/year of naphtha for use by Petkim’s oil and chemical complex and refine Azeri Light, Kerkuk and URAL oil.
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