Was there an explosion at Tüpraş? What is Tüpraş? What does Tüpraş do? What does Tüpraş mean?

Inquiries regarding what happened at TÜPRAŞ have gained momentum on the internet.

It has been reported that an explosion occurred at the Turkish Petroleum Refineries (TÜPRAŞ) facility located in İzmit. So, what happened at TÜPRAŞ? What is TÜPRAŞ, what does it mean?

WHAT HAPPENED AT TÜPRAŞ?

An explosion occurred at the TÜPRAŞ facilities in İzmit.

Firefighters, ambulances, and security forces were directed to the facility.

Kocaeli Metropolitan Municipality Mayor Tahir Büyükakın stated that the explosion occurred during a drill and that there were no injuries.

WHAT IS TÜPRAŞ?

The Turkish Petroleum Corporation (PETKUR) was established with Decree Law No. 60 on state-owned economic enterprises, published on May 20, 1983. It was decided to establish TÜPRAŞ with the same decree.

Thus, TÜPRAŞ began its operations as a state-owned economic enterprise affiliated with PETKUR.

With Decree Law No. 233, published on June 18, 1984, the existence of PETKUR was terminated.

TPAO was elevated from its status as an affiliate and replaced PETKUR. This time, TÜPRAŞ continued its operations as a state-owned economic enterprise affiliated with TPAO.

TÜPRAŞ was attached to the Privatization Administration on July 5, 1990, marking the first step toward its privatization.

With a law published on October 28, 1983, it was decided to attach İPRAŞ, the Batman Refinery, the İzmir Refinery, and the Kırıkkale Refinery, which was under construction, to TÜPRAŞ. On November 16, 1983, TÜPRAŞ separated from TPAO and began operating as a semi-private company affiliated with the Ministry of Energy.

Tüpraş's first public offering took place on May 28, 1991, and it began trading on the Istanbul Stock Exchange (İMKB) with a 2.5% share. By 1999, the public float rate reached 3.58%.

The privatization tender held on January 13, 2004, was won by the Tatneft-Zorlu Group with a bid of 1.3 billion dollars, but the cancellation lawsuit filed by the Petrol-İş Union was upheld by the Council of State, and the sale was canceled.

In the second tender held on September 12, 2005, the Koç-Shell Group, which submitted the highest bid of 4.14 billion dollars, won the tender. On January 26, 2006, the management of TÜPRAŞ was transferred to the Koç-Shell partnership.

WHAT IS THE FULL NAME OF TÜPRAŞ?

The full name of TÜPRAŞ is Turkish Petroleum Refineries Corporation (Türkiye Petrol Rafinerileri AŞ).

WHERE IS THE TÜPRAŞ HEADQUARTERS?

The company's headquarters was moved from Kocaeli to Istanbul in 2021.

WHERE IS TÜPRAŞ?

An explosion occurred at the İzmit refinery of Tüpraş, which has a total annual crude oil processing capacity of 30 million tons across its four refineries located in İzmit, İzmir, Kırıkkale, and Batman.

WHAT DOES TÜPRAŞ DO?

With Decree Law No. 233, published on June 18, 1984, the existence of PETKUR was terminated. TPAO was elevated from its status as an affiliate and replaced PETKUR. This time, TÜPRAŞ continued its operations as a state-owned economic enterprise affiliated with TPAO.