SOCAR’s $7 billion expansion deepens Azerbaijan’s industrial strategy
In the modern era, as the global energy map is rapidly changing and carbon neutrality targets and the transition to renewable energy are accelerating, a vital question stands before crude oil producers: Is it possible to ensure long-term economic sustainability by selling only hydrocarbon resources? The strategic steps taken by the State Oil Company of the Republic of Azerbaijan (SOCAR) in the Turkish market have already been giving a clear and unequivocal answer to this question for years: No, the real future lies in the petrochemical sector that creates high added value.