Investor Presentation Financial Highlights
Tüpraş and Med Refining Margins
Tüpraş Net Margin
Med Margin
28.2
($/bbl)
Gross Inventory
Margin Effect
Clean Clean
Gross NET
Margin Margin
Net
Med Processed
Margin Margin* bbl (mn)
9M 2023
21.1
1.1
20.0
12.2
13.3
28.7
137.6
16.5
12M 2022
23.9
0.7
23.2
15.8
16.5
28.2
198.8
9M 2022 21.2
0.9
20.3
14.0
14.9
28.0
153.3
5.7
3.7
1.7
1.3
-0.2
2019
2020
2021
1.6
12M 2021 10.5
2.1
8.4
3.6
5.7
1.6
190.2
2022
Operational advantages supporting the Tüpraş Refinery Margin compared to the benchmark Mediterranean
Peers:
.
Ability to use heavier and sour crudes with higher complexity
•
Access to a wide range of cheaper sources of crude oil
•
Close proximity to major suppliers reduces transport costs
.
Lower cost basis and more efficient energy usage
* Weight of Ural crude oil is 100% for crude oil supplies in the theoretical calculation of Med Margin.
Dec-23
Investor Presentation
Financials
Ability to produce a broad range of refined products with higher value
added
Direct pipeline connections with domestic clients
www.tupras.com.tr
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