Turkish Petroleum Refineries Corporation (TUPRAS) was founded in 1983 to enable the Public Economic Enterprises to work more efficiently. TUPRAS' target was to produce Turkey's required petroleum products by processing crude oil at its refineries.
TUPRAS' operations can be summarized as follows:
TUPRAS' facilities include:
TUPRAS, included for years now in the top 500 industrial corporations, is the largest refinery operator in East Europe and the Balkans; it is also the 7th largest in Europe. As of end-2003 it had a total of 5,335 employees, including temporary workers.
After the decision taken for its privatization in 1990, its capital was turned over to the Republic of Turkey Prime Ministry Privatization Administration. In 1991, 2.5% of its A Group Stock shares were open to the public for the first time. In 2000, TUPRAS shares were open to the public for the second time and the total A Group Stocks traded on the Istanbul Stock Exchange and London Stock Exchange reached 34.24%. Official procedures started for its privatization in 2003 and the Privatization Administration decided that 65.76% of its shares would be sold with a block sale, which was completed in Feb 2004. The stake was sold to Efremov-Zorlu consortium in return for $1,302,000,000.
TUPRAS received ISO 9001:2000 Quality, ISO 14001 Environment and OHSAS 18001 Worker Health and Safety Management Systems certificates in 2003. It was stated from TUPRAS that this way it has documented its concerns for quality, environment, welfare of the society and its workers with the integrated management system it has established at its headquarters, at its Izmit Refinery head office and its Gulf Petrochemical and Refinery head offices, adding that it has also begun the certification process for its refineries in Izmir and Kirikkale.
Production at TUPRAS facilities may be summarized as follows:
TUPRAS' product portfolio and 2003 production figures are as follows:
PS raw materials produced in Korfez Petrochemical and Refinery, and their properties are as follows:
The nameplate capacity of PS in the complex is 15,000 tons/year.
Accounting for 86% of the oil refining capacity of Turkey, TUPRAS meets 75% of the oil products demand in Turkey. It sources the crude oil for its refineries' needs from Iran, Saudi Arabia, Libya, Iraq, Russian Federation, Syria, Algeria, other contracted sources, and from domestic sources.
It also buys the raw materials butadiene and styrene to produce PS and rubber. It bought 5,712 tons butadiene1.3 and 9,439 tons of styrene in 2003.
TUPRAS has redefined its vision and mission in 2000. TUPRAS' vision is to become the leading energy corporation of Turkey and a world class refinery company. Its mission is to meet all of the oil products demand for the civil and military needs in the country, to develop itself in the energy and petrochemical sectors, and to grow its contributions to its shareholders, for customers, for the society and for the protection of the environment.
In the direction of its vision and mission, TUPRAS started a comprehensive Master Investment Program covering the period 1989-2006 with a budget exceeding $2 bil to modernize its refineries to produce products complying with EU environment standards, and to increase its potential profitability and competitiveness.
The following important investments ($741 mil) planned by TUPRAS during this period were announced as:
TUPRAS is an active internet user. It uses the internet as a tool for promotion, communication, and to make announcements to investors, to give financial/operational information, and to collect information.
A TUPRAS representative said that they follow the ChemOrbis content and make good use of it.
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