Founded on April 3, 1965, by Turkish Petroleum in 1965 in Izmir and privatized in 2008 and transferred to SOCAR.

[6] Specializing in petrochemical manufacturing, the company produces ethylene, polyethylene, polyvinyl chloride, polypropylene and other chemical building blocks for use in the manufacture of plastics, textiles, and other consumer and industrial products.

The company has 14 manufacturing plants, supplying a significant portion of petrochemicals used in Turkey.

The company also exports products to the United States, and countries in Europe, the Middle East, Africa, and Asia.

Petlim is a container port currently being built near the town of Aliağa.