Turkish state refiner Tupras spent $2.7bn on a residue upgrader at its Izmit plant, transforming it into one of the most complex refineries in the world and enabling the firm to remain competitive in a squeezed and rapidly changing market.
Tupras expects to reach full capacity any day now on a residue upgrader at its Izmit refinery, which will enable it to revive capacity utilization across its four refineries, which account for all of Turkey’s 560,000 b/d refining capacity, and reduce the volume of products it imports to meet commitments to its distribution and retail affiliates. (CONTINUED - 587 WORDS)
