Petkim plans to buy part of Star from SOCAR


December 2, Fineko/ Petkim plans to buy 18% of the Star Refinery from SOCAR, ABC.AZ reports citing Petkim CEO Anar Mammadov.

He noted that it is planned to complete the procurement operation in the 1st half of 2022. Petkim also plans to sell Eurobonds in 2022 for an amount that is likely to be below $500 million.

The Star Oil Refinery has increased its capacity from 10 up to 11 million tons a year, and plans to increase it up to 11.5 million tons.