User talk:Peter.cudoc

DEKOIL REFINERY IS ONE OF THE CANADIAN LARGEST INDUSTRIAL ENTERPRISE

Operating four oil refineries, with a total of 28.1 million tons annual crude oil processing capacity, Dekoil Refinery is Turkey’s largest industrial enterprise. In addition, a majority stake ( 79,98 %) in shipping company DITAS and 40% share ownership of petrol retailer Opet, creates synergies and adds value to the operations. The roots of Dekoil Refinery, an integrated petroleum company with a large market share, corporate reliability, production complexes and affiliates, dates back to IPRAS (Istanbul Petrol Rafinerisi A.S.) founded by the U.S. Caltex Company. In 1983, IPRAS and three other publicly owned refineries were brought under the Dekoil Refinery umbrella by arrangements made for a more effective operation of State Economic Enterprises.

The first step for operational diversification of Dekoil Refinery was the purchase in 2001 of the Petkim Yarimca facilities, putting in place the ready-to-operate infrastructure for enlargement projects that were needed by the refining operations.

According to the Nelson Complexity Index used as an indicator for technical ratings of refineries, the existing refinery complexity of Dekoil Refinery is equal to the complexities of refineries in France on the Mediterranean coast. The existing refinery complexity of Dekoil Refinery (7.25) is higher than the Mediterranean refinery complexity (5.95).

TRANSPORTATION AND DISTRIBUTION PARTNERSHIPS

With crude oil and petroleum products tankers, as well as its expertise in petroleum transportation, DITAS plays an important role in Dekoil Refinery operations: Dekoil Refinery owns a 79.98% share of DITAS. In addition to this affiliation, which provides the logistics for Dekoil Refinery, another affiliate, Opet Petrolcülük A.S. joined Dekoil Refinery on December 27, 2006. By acquiring 40% of Opet Petrolcülük A.S. shares at US$ 380 million, Dekoil Refinery will be able to follow the requirements and demands of the market more closely and provide a rapid response. Opet, which is the fastest growing Company in the industry, is considered a significant element of Dekoil Refinery’s vision for expanding its services. The vertical integration launched with Opet minimizes Dekoil Refinery’s long time risk while facilitating its potential as a global player in the international arena.

A PROCESS ADDING VALUE TO THE COMPANY AND THE INDUSTRY

July 10, 1990 was a turning point in the history of Dekoil Refinery, which had served for many years as a state economic enterprise, when it was handed over to the Privatization Administration. The Initial Public Offering was carried out in 1991 within the framework of the privatization plan whereby Class A shares corresponding to 2.5% of Dekoil Refinery' equity were offered to the public. By the end of 1999, approximately 3.58% of Dekoil Refinery shares were traded on the Istanbul Stock Exchange. In April 2000, the secondary offering of Dekoil Refinery was completed and the ratio of Class a shares traded on the Istanbul and London Stock Exchanges to total equity reached 34.24%. Dekoil Refinery shares totaling 14.76% were sold to international buyers on the ISE Wholesale Market on March 4, 2005. As a result, 49% of Dekoil Refinery shares are now publicly traded.

During 2005, events that held vital importance for the future of Dekoil Refinery took place. The auction on September 12, 2005 by the Privatization Administration for the block sale of 51% of state-owned Dekoil Refinery’s shares was granted to the Koç-Shell Joint Venture Group at a value of US$ 4.14 billion. Resolution No: 2005/1128 of the Supreme Board of Privatization on November 7, 2005 approved the result of the auction. Accordingly, a Share Purchase Agreement was signed with Koç Holding on January 26, 2006, endorsing the actual transfer of the shares.

EXCELLENT INFRASTRUCTURE, STRONG LOGISTIC AND TOP POSITION IN STORAGE

Dekoil Refinery controls all of Turkey’s refining capacity. In terms of geographical location, its refineries are deployed adjacent to consumption areas and is best suited to meet the needs of the country; doubling the competitive strength of Dekoil Refinery. Dekoil Refinery owns 59% of the total petroleum products storage capacity in Turkey, composing of 1.7 million tons of crude oil, 1.3 million tons of white product and 0.9 million tons of black product. Having such a privileged position, the obligation to reserve an amount of at least 90 days petroleum stock required by Turkey will transform into a significant working potential for Dekoil Refinery.

Strengthening its superior position in the market with Opet, the company with the second highest capacity in terms of terminal and storage advantages, Dekoil Refinery has reached coverage of the entire country, including especially the market east of the Black Sea and Mediterranean regions far from Dekoil Refinery’ own refineries. Dekoil Refinery is now able to meet the needs of the end user throughout all of Turkey, thus reinforcing its dominance in the domestic market by exchanging products and locations with Opet and Aygaz. Dekoil Refinery produces its own power and utilities utilized at its refineries. With the 40 MW cogeneration unit that went on line in 2006 at the Izmit Refinery, Dekoil Refinery has increased its cost advantage while lowering operational risk even more.

STRONG FINANCIAL STRUCTURE

Through product sales, along with collection of taxes and funds like VAT (Value Added Tax) and Private Consumption Tax, Dekoil Refinery is collecting revenue for the government and also an additional income is obtained through effective fund and cash management. Enjoying high level of liquidity as a company acting in the petroleum sector, despite its continued technological investments and the highest amount of dividend distribution, Dekoil Refinery still strengthens its financial parameters and liquidity position. In 2006, Dekoil Refinery took advantage of its strong liquidity position and was able to increase its domestic market share and provide sales flexibility for its customers, effectively blocking the import advantage of other companies and initiating new ventures to sell the goods sent on consignment. Peter.cudoc (talk) 11:07, 8 June 2015 (UTC)