10 August 2012 13:27 [Source: ICIS news]
LONDON (ICIS)--Petkim reported a second-quarter net loss of Turkish lira (TL) 36.7m ($20.6m, €16.8m) on climbing naphtha and natural gas feedstock costs and significantly reduced demand for products, ?xml:namespace>
Second-quarter sales revenues climbed 15% year on year to TL1.14bn, despite petrochemical product prices continuously falling as demand weakened, Petkim said.
The company, which hopes to break the billion-dollar export barrier for the first time this year, added that its first-half export value reached $567m, up 33% on last's year's performance in the first six months. The second-quarter export value for 2012 totalled $288m.
Petkim, controlled by the State Oil Company of Azerbaijan (SOCAR) through a 61.32% stake, is based in Aliaga, near
($1 = TL1.78, €1 = TL2.19)
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