Turkish Tupras' revenues fall in first quarter

Oil&Gas Materials 14 May 2012 17:50 (UTC +04:00)

Azerbaijan, Baku, May 14 /Trend A.Taghiyeva/

Turkey's largest oil refining company Tupras has seen reduced sales in the first quarter of this year, the company said on Monday.

The sales of products in the country decreased by 3.6 percent compared to first quarter of 2011, reaching 3.7 million tons.

The revenues of the company decreased by 11.2 percent in January-March 2012 compared to the same period in 2011, amounting to 288 million lire.

At the same time the company's revenues from exports grew by 10.53 percent, compared to the first quarter of 2011.

Turkish company Tupras was established in 1983 and is one of the largest companies in Europe. The company has four oil refineries, a petrochemical complex and provides about 85 per cent of Turkey's oil refining.

The official exchange rate on May 14 is 1.7489 TL/USD