Total Revenues

(TL million)

Domestic Market Position

Turkey’s sole oil refining company
60% market share in petroleum products market, including gasoline, diesel fuel and jet fuel

International Market Position

Europe’s 7th and the world’s 28th largest refining capacity

Share of International Revenues


Profit Before Tax

TL 13 million

Net Income

TL 1,197 million

Shareholder Structure

Enerji Yatırımları A.Ş. 51.00%
Free Float 49.00%


With its added value and the revenues from its 28.1 million-ton annual crude oil processing capacity, Tüpraş is Turkey’s largest industrial company.

Tüpraş, Turkey’s sole oil refiner, operates four refineries in Izmit, Izmir, Kırıkkale and Batman, with a total annual crude oil processing capacity of 28.1 million tons. It is Turkey’s largest industrial company by revenue and added-value generated. As Europe’s 7th largest refining company, Tüpraş is among the most complex refiners in the Mediterranean region, with a Nelson Complexity Index of 7.25.


Aware of ever rising competition within the sector, Tüpraş aspires to the highest level of operational excellence to maximize value for Turkey and the Company’s shareholders. To accomplish this; Tüpraş targets to be in top quartile among refineries worldwide, in terms of technical availability, energy intensity, and operating costs efficiency indices.

As result of Tüpraş’s optimum production policy and its effective use of conversion units, the Company achieved a 2% increase in white product yield in 2013.

Under its inventory production optimization programs, the Company’s achieved a capacity utilization rate of 79.1% and a 2% efficiency increase in the production of white products. The Company supplied 19.2 million tons of products domestically and exported 4.8 million tons. Sales totaled 24.1 million tons.

Residuum Upgrade Project 91% complete: It will be operational in November 2014

Investments in the Residuum Upgrade Units reached US$ 2.29 billion by the end of 2013. These units will enable about 4.2 millions of tons of heavy fuel oil products, for which demand has fallen in recent years, to be converted into about 3.5 million tons of more valuable and more environmentally friendly white products, mostly Euro V diesel.

The US$ 2.7-billion Residuum Upgrade Project will put the Izmit Refinery into an elite league of refineries in global terms of complexity and it will create significant added value for the country’s economy. All of the main equipment is at the construction site and its assembly is nearly complete. As of the end of 2013, 91.3% of the project had been completed.

Strong corporate governance

Tüpraş raised its rating on the Borsa Istanbul (BIST) corporate governance index to 9.34 in 2013, up from 7.91 in 2007, when the index was first introduced. The Company has consistently ranked at the top of the index.

Conducting all its activities within the framework of the Basic Quality Management Systems, Tüpraş added the ISO 50001:2011 Energy Management System and the ISO/IEC 27001:2005 Information Security Management System in 2013 to its existing ISO 9001, ISO 14001 and OHSAS 18001 Quality Management Systems.

Essential for its innovative leadership and strong global competitive strength, Tüpraş conducted R&D activities under three main headings in 2013: innovation management, product development, and process development. As a result of TL 32.5 million R&D expenditures it made in 2012, Tüpraş raised its ranking among companies from 14th in 2011 to 9th in 2012, according to official R&D expenditure disclosures. In 2013, it worked on 40 projects, 16 of which were approved by Tübitak and EU R&D funds.

Awards and achievements

  • 1st on Istanbul Chamber of Commerce (ISO) 500 Companies, Fortune 500 and Capital 500 listings
  • Turkey’s 2012 export champion
  • 3rd in the BIST Corporate Governance Index with an overall score of 93.43 and 1st in the Board of Directors category with a score of 97.82
  • 1st in the Industrial Enterprises Above-the-Line Sectoral Performance Assessment Organization; The continuity award in 2013
  • In Aegean Region Chamber of Industry (EBSO) rankings:
    • 1st among companies in production value, exports, employment and best environmental practices
    • 2nd in the category of corporate social responsibility in the area of the environment
    • 3rd in the category of EBSO companies with the highest amount of investment
  • Energy-Oil sector Entrepreneur of the Year - the METU Young Entrepreneurs Society
  • Batman Refinery named the Cleanest Industrial Facility


Ditaş, a 79.98%-owned subsidiary of Tüpraş, provides crude oil and petroleum products logistics and transportation services to Tüpraş. In 2013, it carried 9.5 million tons of Tüpraş’s cargo - 6.4 million tons of crude oil and 3.1 million tons of refined products. Ditaş’s tanker fleet, which started operations in 1974, now includes the 164.85 DWT Cumhuriyet crude carrier, the 10.9 DWT Sevgi and Gönül, the 6.3 DWT Leyla and the 51.5 DWT Suna petroleum products/chemical tankers, and vessels on time lease. In addition, Ditaş provides pilotage, tugboat and mooring services with 11 tugboats and seven mooring boats.