The STAR oil refinery, an asset of the State Oil Company of Azerbaijan (SOCAR) in Türkiye, has made it to the three biggest enterprises in Türkiye in 2023 in the ranking of the Istanbul Chamber of Industry, Report informs referring to Anadolu Agency.
According to the study “The 500 largest industrial enterprises in Türkiye in 2023” prepared by ICO, the title of the largest industrial enterprise in Türkiye at the end of 2023 was retained by the Turkiye Petrol Rafinerileri AS (TUPRAS) refinery with sales from its own production of 484.2 billion liras ($14.7 billion).
Ford Automotive, ranked third in 2022, moved up to second with sales of 238 billion liras ($7.220 billion).
Star Refinery, which ranked second in 2022, came in third last year with production sales of 226.8 billion liras ($6.88 billion).
The top 10 also included Istanbul Refinery, Toyota Automotive, Oyak-Renault, Arcelik, Mercedes-Benz Turk AS, Gram Kiymetli Madenler A.S., Eregli Demir ve Celik Fabrikalari TAS.
The STAR refinery was put into operation on October 19, 2018 and is designed to process such types of oil as Azeri Light, Kerkuk and Urals. The plant’s capacity is 13 million tons.
The refinery provides raw materials for the Petkim petrochemical complex and creates conditions for SOCAR to enter the Mediterranean market with its diesel fuel and jet fuel, as well as raw materials for the chemical industry.
SOCAR invested about $7 billion in the construction and development of the STAR refinery.
