Tüpraş, Turkey's leading industrial company, has announced its Q1 2019 financial results. Tüpraş successfully fulfilled its responsibility in meeting the fuel need of Turkey by supporting its production operations with a strong balance sheet and effective financial risk management policies.
Tüpraş, the leading industrial corporation of Turkey, increased its total crude processing capacity from 28.1 million to 30 million tonnes as a result of its modernization and debottlenecking investments since 2017. İbrahim Yelmenoğlu, General Manager of Tüpraş, said, “As Tüpraş and the leader of industrialization in Turkey, we carry on with our development thanks to our strong and dynamic structure and modernization investments. We continue to create an added value for our shareholders, partners and country by investing in accordance with our strategies to increase our energy efficiency, production capacity and profitability.”
Tüpraş won the first prize in “Innovation Strategy” category during the Innovation Week. Levent Çakıroğlu, the CEO of Koç Holding, received the award, which was given for İnovaLİG, the first innovation development program of Turkey, from Ruhsar Pekcan, the Minister of Trade, and İsmail Gülle, the Chairman of Turkish Exporters Assembly.
The 11th of Tüpraş Batman Refinery Children’s Festival, which has become a tradition, has been organized with 1500 children aging from 7 to 10.
Tüpraş participated in the “COZMOS” R&D project, which received the highest score among the project applications for the ‘Conversion of Captured Carbon Dioxide’ call and was entitled for support in the scope of Horizon 2020 Program, the most important research and innovation program of Europe.
Tüpraş will sell 1.8 million tonnes jet fuel per year to Istanbul Airport for a period of 5 years as a result of the tender, organized by IGA Istanbul Havalimanı Akaryakıt Hizmetleri A.Ş.
Tüpraş, aiming to use energy in the most efficient way for fuel production, won two awards in “Industrial Energy Efficiency Project Competition” in the 10th Energy Efficiency Forum and Fair, organized by the Ministry of Energy and Natural Resources.
Petroleum Istanbul Fair, one of the largest and most visited fairs of the world in its area, was held with the attendance of Fatih Dönmez, the Minister of Energy and Natural Resources. After the opening ceremony, Fatih Dönmez, the Minister of Energy and Natural Resources, visited the joint stand of Aygaz, the leading brand of LPG industry, OPET, the customer satisfaction leader of fuel distribution sector, and Tüpraş, the largest industrial enterprise of Turkey, and received information from the represenatives of the companies.
Successfully managing its operations within the framework of strong risk policies in 2018, Tüpraş has managed to maintain its working capital and strong balance sheet, recording a net profit of 3.8 billion USD. Tüpraş continued to invest in sustainability in 2018, with its total investments in refining exceeding 6 billion USD.
Tüpraş has become the Turkish industrial enterprise that was “Entitled for the Highest Incentive with One Project” under Horizon 2020, the most important research and innovation program of Europe, with its R&D Project, named BAMBOO.
Tüpraş’ total investments since the privatization has exceeded 6.5 billion US$ following the 199 million US$ invested in 2018.