Tüpraş Investor Presentation August 2019
-
Quarterly Crack Margin Comparison in 2015 – 2019 ($/bbl)
Compared to Q2 2018, Mid-distillate (Diesel: -12%, Jet -22%) and Gasoline (-17%) performed weaker in Q2 while HSFO
(+20%) cracks were stronger.
Diesel
Jet
16.8
15.9
15.4
14.6
13.9
Slow down in economic
activities
13.8
13.8
13.4
Lower Asian air traffic
Imports from Asia to
High product flows
13.3
12.3
12.2
from Asia & US to
10.8
Europe kept markets
well supplied
Europe
Q1
Q2
Q3
Q4
Gasoline
12.7
12.6
10.9
10.5
Q1
Q2
Q3
Q4
High Sulphur Fuel Oil
Lighter shale gas
processing leading to
-5.8
increase in gasoline
-9.9
-7.2
yields globally
Lower supply due to
decreased heavy crude
availability
-10.0
Lower naphtha demand
-12.6
-12.4
due to decreased
petrochemical driven
4.7
Higher HSFO demand in
power generation
replacing crude oil
4.5
Q1
Q2
Q3
Q4
Investor Presentation
www.tupras.com.tr
consumption
2019
2019
Q1
Q2
Q3
Q4
2019-2015 Min - Max
9View entire presentation