H1 2019 Results
Competition # 1 (SOCAR-STAR Refinery)
STAR Refinery (Total Cap. 10 mn ton)
Production
2019
mn ton
Credit
3.3 Billion $
Equity
2.4 Billion $
Total
Goldman Sachs has acquired a 13% stake in SOCAR Turkey for $1.3 billion.
Goldman Sachs has the right to resell 10% of its stakes to Socar, and the remaining 3% to
'Sermaye Investments Limited' owned by SOCAR within 6 years at the same price.
• 3.3 billion $ credit agreement. First
4 years grace period total 15-18
years term.
Project finance is supplied to company
(1.5 Billion $).
Tüpraş
Star
Total
Turkish
Demand
Balance
LPG
1.1
0.3
1.4
4.1
-2.7
Petchem Feeds
0.2
2.6
2.8
Gasoline
6.1
6.1
2.4
3.7
5.7 Billion $
Investment
• It is expected to be operational as of
2019.
Jet Fuel
5.2
1.6
6.8
5.2
1.6
Diesel
10.7
4.5
15.2
26.5
-11.3
Coke
0.8
0.7
1.5
4.6
-3.1
Star Refinery Production Numbers (k ton)
Diesel
4,500
Jet Fuel
1,600
Fuels
Sulphur
158
Petrocoke
698
LPG
260
Petrochemical
Feedstock
Naptha
1,600
Mixed xylene
460
Reformate
524
Investor Presentation
www.tupras.com.tr
OUTLOOK
Fuel Oil
1.8
1.8
1.3
0.5
Bitumen
3.1
3.1
3.1
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