TÜPRAS
Encyclopedia
Tüpraş ( ISE
: TUPRS) is Turkey
’s largest petrochemical company, with 28.1 mn ton crude processing capacity a petrochemical facility, a retail affiliate and a Tanker Operation.
Its origins go back to back to İPRAŞ (İstanbul Petrol Rafinerisi A.Ş.) established by the U.S. Caltex
Company (now part of Chevron
). In 1983, İPRAŞ and three other publicly owned refineries were brought into state control under the Tüpraş umbrella. Partial privatisation started in 1991, when an IPO sold 2.5% of shares to the public; by 2005 a number of secondary issues had taken this up to 49%. In 2005, a consortium of Koç Holding
and Shell
bid over $4billion to acquire the 51% interest remaining; this was through a new joint venture company, Enerji Yatırımları A.Ş. The company’s shares were divided among the shareholders as follows: Koç Holding A.Ş. 75%, Aygaz A.Ş. 20%, OPET Petrolcülük A.Ş. 3%, Shell Overseas Investment B.V. 1.9% and the Shell Company of Turkey Ltd. 0.1%.
Tüpraş controls all of Turkey’s refining capacity and owns 59% of the total petroleum products storage capacity; it also has a strong indirect downstream position through its shareholding in Opet.
Istanbul Stock Exchange
The Istanbul Stock Exchange is the only corporation in Turkey for securities exchange established to provide trading in equities, bonds and bills, revenue-sharing certificates, private sector bonds, foreign securities and real estate certificates as well as international securities. The ISE was...
: TUPRS) is Turkey
Turkey
Turkey , known officially as the Republic of Turkey , is a Eurasian country located in Western Asia and in East Thrace in Southeastern Europe...
’s largest petrochemical company, with 28.1 mn ton crude processing capacity a petrochemical facility, a retail affiliate and a Tanker Operation.
Introduction
Tüpraş operates four oil refineries, with a total of 28.1 million tonnes annual crude oil processing capacity. It also has a 50,000 tonne capacity petrochemical production facility, a majority stake (79,98 %) in the shipping company DİTAŞ and, since 2006, a 40% ownership of petrol retailer Opet.Its origins go back to back to İPRAŞ (İstanbul Petrol Rafinerisi A.Ş.) established by the U.S. Caltex
Caltex
Caltex is a petroleum brand name of Chevron Corporation used in more than 60 countries in the Asia-Pacific region, the Middle East, and southern Africa.-History:...
Company (now part of Chevron
Chevron Corporation
Chevron Corporation is an American multinational energy corporation headquartered in San Ramon, California, United States and active in more than 180 countries. It is engaged in every aspect of the oil, gas, and geothermal energy industries, including exploration and production; refining,...
). In 1983, İPRAŞ and three other publicly owned refineries were brought into state control under the Tüpraş umbrella. Partial privatisation started in 1991, when an IPO sold 2.5% of shares to the public; by 2005 a number of secondary issues had taken this up to 49%. In 2005, a consortium of Koç Holding
Koç Holding
Koç Holding A.Ş. is the top industrial conglomeratein Turkey. The Koç family, one of Turkey's wealthiest families, controls the company with its headquarter in Nakkaştepe, Istanbul...
and Shell
Royal Dutch Shell
Royal Dutch Shell plc , commonly known as Shell, is a global oil and gas company headquartered in The Hague, Netherlands and with its registered office in London, United Kingdom. It is the fifth-largest company in the world according to a composite measure by Forbes magazine and one of the six...
bid over $4billion to acquire the 51% interest remaining; this was through a new joint venture company, Enerji Yatırımları A.Ş. The company’s shares were divided among the shareholders as follows: Koç Holding A.Ş. 75%, Aygaz A.Ş. 20%, OPET Petrolcülük A.Ş. 3%, Shell Overseas Investment B.V. 1.9% and the Shell Company of Turkey Ltd. 0.1%.
Tüpraş controls all of Turkey’s refining capacity and owns 59% of the total petroleum products storage capacity; it also has a strong indirect downstream position through its shareholding in Opet.
Membership-Association
- TÜMAKÜDER Battery importers&producers association.