Turkish oil refinery becomes local export champion of 2014

Turkish oil refinery becomes local export champion of 2014

ANKARA - Anadolu Agency
Turkish oil refinery becomes local export champion of 2014

DHA Photo

Turkish energy giant Tüpraş has been named the country’s exports champion in 2014, while partnering foreign carmakers dominated the top 10 list of leading exporters, according to a survey by the Turkish Exporters’ Assembly (TİM).

The company exported $3.7 billion worth of petroleum products last year, down from $4.1 billion in 2013 and $5.42 billion in 2012.

The energy giant captured a 56.4 percent share of the petroleum products market, excluding industrial products in Turkey.

The Koç Holding Company’s Tüpraş had a market share of 88 percent in jet fuel and 37 percent in diesel. In gasoline, almost all of the demand was met by Tüpraş.

The top 10 Turkish exporting companies included four automotive, two home appliance suppliers and one export services company. One gas producer, German industrial conglomerate Bosch, ranked among them.

On the top ten list, car makers Ford, a joint venture of Ford and Koç Holding, and Oyak Renault, a joint venture between Renault and Oyak, the army pension fund, followed oil refinery company Tüpraş.

Vestel, one of Turkey’s leading durable consumer goods makers, was in fourth place. Kibar Foreign Trade, which exports the products of a number of private and state industrial enterprises and also imports raw materials for them, took the fifth spot in the country’s export champions list.

Arçelik, a durable consumer goods producer under Koç Holding, was in the sixth spot, followed by Italian automotive giant Fiat’s local partner with Koç Holding, Tofaş.

Toyota Automotive took eighth place while Habaş, an industrial gas producer, and Bosch Turkey, the industrial conglomerate, came in ninth and tenth, respectively.

Turkey’s exports increased some 4 percent in 2014 reaching $157.6 billion, according to the TİM. Exports from car sales reached $22.3 billion, followed by textiles and chemicals. Germany with $14.9 billion, Iraq with $10.7 billion, the U.K. with $9.7 billion, Italy with $7 billion and France with $6.4 billion topped the list of largest markets.