OREANDA-NEWS. The State Oil Company of Azerbaijan (SOCAR) reported on the results of activities of its main asset in Turkey - Petkim Holding in the 1st half of the year.

According to SOCAR, holding’s profit for the 1st half of 2013 reached 5.5 million Turkish liras that is equivalent to 586% of the profit for the same period of 2012.

"Profit for the 1st half of the year was equal to 5.69% of Petkim Holding’s earnings (107 million liras)," SOCAR informed.

Holding’s CEO Sadeddin Korkut linked rise in earnings with an increase in sales. He also expects an increase in demand for holding’s products in the 2nd half of the year.