Milestones

Türkpetrol

Founding of the first private oil company of Turkey, Türkpetrol.

1931

Üsküdar Fuel Lubricants Storage Facility

Opening of fuel lubricants storage facility in Üsküdar.

1936

Bayraklı Fuel Lubricants Storage Facility

Opening of fuel lubricants storage facility in Bayraklı, İzmir.

1937

Production of Lubricant from Olive Oil

Production of lubricant from olive oil for the first time in Turkey due to the challanges experienced in the World War II period.

1941

Mudanya Fuel Storage Facility

Opening of the fuel storage facility in Mudanya.

1951

Burmah Castrol

Engaging with UK-based Burmah Castrol in lubricants.

1953

Marmara Petrol and Refining Corporation

Founding of Marmara Petrol and Refining Corporation as a subsidiary of Türkpetrol.

1958

ATAŞ Anadolu Refinery

Commencement of operations at ATAŞ Anadolu Refinery.

1962

Alevgaz

Emerging of the Alevgaz brand and commencement of Turkpetrol’s LPG market operations with it.

1967

Turkish Petrol Foundation

Founding of Turkish Petrol Foundation

1969

TABAŞ Petrol

Founding of TABAŞ Petrol.

1980

Yarımca Lubricant Blending Plant

Inauguration of the Yarımca Lubricant Blending Plant with 35,000-ton capacity.

1987

Turcas Petrol

Founding of Turcas Petrol as a Türkpetrol – Burmah Castrol joint venture.

1988

Initial public offering of Turcas Petrol on the Istanbul Stock Exchange.

1992

Purchasing of the Turcas stakes by TABAŞ.

1996

Turcas Petrol

Merger of Tabaş Petrol and Turcas Petrol under Tabaş and renaming of the company as “Turcas Petrol” in the same year.

1999

ATAŞ Oil Terminal

Termination of ATAŞ refining licence by the partners and conversion of the site into an oil terminal.

2004

The Shell Company of Turkey Ltd. and Turcas Petrol

Commencement of operations at Shell & Turcas, a joint venture between The Shell Company of Turkey Ltd. and Turcas Petrol, with nearly 1,300 fuel stations nationwide.

2006

SOCAR & Turcas Energy (STEAŞ)

Founding of SOCAR & Turcas Energy (STEAŞ) as a joint venture between Turcas Petrol and SOCAR, the State Oil Company of the Azerbaijan Republic.

2006

E.ON

Establishment of a joint venture between Turcas and E.ON of Germany for power generation investments.

2007

Acquisition of Stakes in Petkim

Acquisition of a 51% stake in Petkim by SOCAR & Turcas Petrochemicals for USD 2.04 billion.

2008

SOCAR & Turcas Refinery (STRAŞ)

Founding of the SOCAR & Turcas Refinery (STRAŞ) joint venture company to build a new refinery with a 10 million ton/year capacity within the Petkim complex.

2008

RWE - Turcas Partnership

German RWE becomes the new partner of Turcas by acquiring E.ON’s stake in the joint venture.

2009

Denizli Natural Gas Fired Combined Cycle Power Plant

Start of construction of the 775 MW Denizli Natural Gas Fired Combined Cycle Power Plant by the RWE & Turcas joint venture.

2010

STAR Refinery

Groundbreaking of the STAR Refinery.

2011

Corporate Governance Rating Score

Turcas Petrol is recognized for recording the most improvement in its Corporate Governance Rating Score within one year.

2011

SOCAR & Turcas Refinery (STRAŞ) Renaming

Renaming of SOCAR & Turcas Refinery, an 18.5% subsidiary of Turcas Refinery Investments as “STAR Refinery”.

2011

Fitch Ratings' Credit Rating

Turcas Petrol’s first credit rating assignment by Fitch Ratings, a credit rating company.

2011

Denizli Natural Gas Fired Combined Cycle Power Plant

Commencement of commercial operations at the 775 MW Denizli Natural Gas Fired Combined Cycle Power Plant as an investment of RWE & Turcas Güney Elektrik Üretim A.Ş.

2013

Turcas Kuyucak Geothermal Power Generation

Founding of Turcas Kuyucak Geothermal Power for exploration of geothermal resources at Kuyucak district, Aydın province.

2013

STAR Refinery Stake Transfer

Turcas Petrol’s 18.5% stake in STAR Refinery is sold to SOCAR.

2014

Corporate Governance Rating Score: 9.35

Turcas Petrol’s Corporate Governance Rating Score rises to 9.35 out of 10.

2015

Drills in Kuyucak, Aydın

Four successful exploratory drillings in Kuyucak, Aydın.

2015

Paid-in Capital Increase

Turcas Petrol’s paid-in capital increased from TL 225 million to TL 270 million via bonus issue.

2015

New Drills in Kuyucak, Aydın

Eight successful exploratory drillings in Kuyucak, Aydın, (with the final investment decision for the 18 MW geothermal power plant project) and closure of the financing.

2016

Majority Shareholder in Turcas Kuyucak Geothermal (TKJ)

Turcas Petrol increased its equity stake in Turcas Kuyucak Geothermal from 46% to 92% and became the majority shareholder.

2016

Corporate Governance Rating Score: 9.48

Turcas Petrol’s Corporate Governance Rating Score rises for the seventh consecutive year to 9.48 out of 10.

2016

Geothermal Power Plant in Aydın Kuyucak

Provisional Acceptance of geothermal power plant in Aydın Kuyucak, which we own 92% stake, has been completed for 10 MW installed capacity

2017