Tüpraş, Turkey’s largest industrial enterprise, is the 8th largest refinery company in Europe and 30th largest in the world. Tüpraş, only Turkish company operating in refining industry is Turkey’s largest industrial enterprise by its total sales revenue of TL 18,215 million which added a gross value of TL 17,257 million to the country’s national income.
Tüpraş has 4 refineries in Izmit, Kırıkkale, Izmir, and Batman and 4,155 employees. It owns 40% of OPET, a leading fuel distribution company in Turkey and 80% of Ditaşi the pioneer of petroleum transportation.
Opet, the fastest growing company in its sector is considered to be an important part of the strategy of Tüpraş to expand its service area. The vertical integration started with Opet minimized the long term risks of Tüpraş, while provided support to Tüpraş in its bid to become a global player in the international arean.
Tüpraş, attributes great importance to R&D activities in development of product quality and standards. In 1961 a public company called İPRAŞ (İstanbul Petrol rafinerisi) was established by American Caltex. The merger of IPRAŞ and 3 other public-owned refineries under TÜPRAŞ in 1983 is a truning point in the company’s development. The acquisition of PETKIM facilities in Yarımca in 2001 is an important phase of the expansion projects that the refinery sector needed.
Tüpraş served Turkey for a long time as a state economic enterprise until 1990 when its stakes were transferred to the Privatization Administration.
Eventually in the auction on September 12 2005 held by the Privatization Administration for the block sale of 51 % of state owned Tüpraş’s shares was granted to the Koç-Shell Joint Venture Group for 4,14 billion. The share of Shell at the company remains around 2 percent.