Azerbaijan Petrochemicals Report - Business Monitor International - Industry Reports

Azerbaijan Petrochemicals Report

Azerbaijan Petrochemicals Report - Business Monitor International - Industry Reports
Azerbaijan Petrochemicals Report
Published Aug 27, 2016
63 pages — Published Aug 27, 2016
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Abstract:

< ALACRA META ABSTRACT>BMI View: The postponement and scaling back of the State Oil Company of Azerbaijan Republic (SOCAR) s Oil and Gas Processing and Petrochemical Complex (OGPC) underlines the country s struggle to develop downstream industries that add value to its considerable energy resources. The manat s depreciation, a collapse in oil prices and high costs of external financing due to Azerbaijan s junk credit rating in Q--- have combined to undermine the plans. ...A ---,---tpa polyethylene plant is also likely to come onstream at the same time. � Azerbaijan s Petrochemicals Risk/Reward Index score has declined -.- points this quarter to --.-, due to a significant decline in the rewards score as a result of the postponement of planned petrochemicals capacity, as well as the downgrading of market risk scores as a result of a deteriorating investment environment for petrochemicals. This pushes it further behind Ukraine in our Europe ranking. ...� Azerbaijan s Petrochemicals Risk/Reward Index score has declined -.- points this quarter to --.-, due to a significant decline in the rewards score as a result of the postponement of planned petrochemicals capacity, as well as the downgrading of market risk scores as a result of a deteriorating investment environment for petrochemicals. This pushes it further behind Ukraine in our Europe ranking.

...BMI View: Although the State Oil Company of Azerbaijan Republic (SOCAR) remains committed to the Oil and Gas Processing and Petrochemical Complex (OGPC), the decision to postpone and scale back the project has highlighted the difficulties the country has in leveraging its considerable upstream energy resources for downstream development. The manat s depreciation, a collapse in oil prices and high costs of external financing due to Azerbaijan s junk credit rating in Q--- have combined to undermine the plans. ...We believe it is likely that the polymer capacities will be scaled back, if not cancelled altogether. The SOCAR Polimer PP plant with ---,---tpa capacity, planned for the Sumgayit Chemical Technology Park in Azerbaijan, was scheduled to start production in H--- but now we are anticipating a delay in commercial production to ----. A ---,---tpa polyethylene (PE) plant is also likely to come onstream at the same time. ...The SOCAR Polimer PP plant with ---,---tpa capacity, planned for the Sumgayit Chemical Technology Park in Azerbaijan, was scheduled to start production in H--- but now we are anticipating a delay in commercial production to ----. A ---,---tpa polyethylene (PE) plant is also likely to come onstream at the same time.

...BMI View: Low oil prices will tip Azerbaijan into recession in ---- and growth will remain subdued in ----. Although we do not expect the manat to continue its freefall in ----, the currency s weakness will lead to strong inflationary pressures and impair the banking sector. ...

  
Source:
Document ID
1749-2149
Country
Industry
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Business Monitor International - Industry Reports—Established in 1984, Business Monitor International is a leading online publisher of specialist business information on global emerging markets. Business Monitor's range of quarterly services covers political risk, finance, macroeconomic performance, outlook and forecast, industry sectors and the business operating environment. Each Industry Report has been researched at source, and features latest-available data covering production, sales, imports and exports; 5-year industry forecasts through end-2012; company rankings and competitive landscapes for multinational and local manufacturers and suppliers; and analysis of latest industry developments, trends and regulatory changes.

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MLA:
Business Monitor International - Industry Reports. "Azerbaijan Petrochemicals Report" Aug 27, 2016. Alacra Store. Dec 08, 2016. <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Azerbaijan-Petrochemicals-Report-2026-271>
  
APA:
Business Monitor International - Industry Reports. (2016). Azerbaijan Petrochemicals Report Aug 27, 2016. New York, NY: Alacra Store. Retrieved Dec 08, 2016 from <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Azerbaijan-Petrochemicals-Report-2026-271>
  
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