Turkiye Petrol Rafinerileri A.S.: First half 2021 results supported by inventory gains and improving market conditions
Our credit view of this issuer reflects its supportive long term fundamentals in Turkey, offset by the cyclical nature of the refining market and its asset concentration in Turkey.Turkiye Petrol Rafinerileri is an energy and refining company based in Turkey. Co. is engaged in providing and refining crude oil, the importing and exporting of oil products, and establishing and operating refineries in Turkey and foreign countries. Also, Co. is establishing and operating factories and facilities in the petrochemical industry. Co. is engaged in purchasing, selling, importing, exporting, storing, marketing and distributing (wholesale, retail, foreign and domestic) all kinds of petroleum products, LPG and natural gas. Co. runs its business through the refineries in Izmit, Izmir, Kirikkale and Batman.
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