|
|
MOL makes binding bid for 51% of Turkey's Tüpras refinery |
|
Hungarian oil and gas group MOL has announced on Friday that it has submitted a binding bid for the acquisition of a 51% stake in Turkish refinery Türkiye Petrol Rafinerileri A.S. (Tüpras).
Tüpras, the sole crude oil refiner in Turkey, has annual refining capacity of 17.6 million tonnes in its four units. Two of these refineries are located close to the cost in Izmit and Izmir, while the other two are smaller inland refineries.
Tüpras also has storage facilities of 4.7 million cubic metres for crude oil and other products. The company posted net sales of around EUR 6.3 billion in 2004, with net profit reaching nearly EUR 330 million.
The company has a market leading position on the swiftly developing Turkish fuels market.
Earlier in the day Austria's OMV has made the same announcement.
Source: Portfolio online financial journal
Click here for the source!
02.09.2005
|
|