Equity participation of SOCAR in Petkim increases its profits

The net income of the Turkish petrochemical holding Petkim, in which the company SOCAR (State Oil Company of Azerbaijan) has equity participation, amounted to 81.7 million dollars in the period from January until September 2011, which is 51 percent more than during the same period last year, SOCAR has reported.

The total value of exported goods in the nine months amounted to 634 million dollars, which is 73 per cent more than in January-September 2010.

In 2008, the alliance of SOCAR and Turcas purchased a 51 percent stake in the Turkish chemical concern Petkim.