Tüpraş

Turkey's largest oil refiner Tüpraş will temporarily stop production at its 220,000-barrel-per-day İzmir oil refinery as coronavirus lockdowns hit fuel demand, the firm has said in a stock exchange filing.

Output at the refinery, which has an annual processing capacity of 11.9 million tons, will be suspended from May 5 until July 1, according to the filing.

Turkish refinery company Tüpraş has revised its 2020 expectations amid the negative impact of the COVID-19 pandemic on oil demand and prices.

Turkey's leading petroleum company Tüpraş has topped Fortune magazine's top 500 Turkish companies list in terms of net sales.

Refiner Tüpraş topped the Istanbul Chamber of Industry's (İSO) Top 500 industrial enterprises 2018 list with 79 billion Turkish Liras ($13 billion) of production-based sales.

Oil tankers wait to dock at Tüpraş refinery near the northwestern Turkish city of İzmit, June 28, 2017.

Refiner Tüpraş is expanding its trading operations beyond Turkey for the first time with plans to open a London office, according to sources and a document seen by Reuters.

Turkey's biggest oil importer Tüpraş has cut back purchases of Iranian crude since May, when the United States said it would re-impose sanctions on Tehran, and analysts say Tüpraş is likely to stick to lower volumes in coming months.

Energy giants topped Turkey's Fortune 500 list with oil refinery Tüpraş, owned by Koç Holding, being the champion with a net sales revenue of 53.9 billion Turkish Liras ($14.8 billion) in 2017.

Turkish authorities arrested four people over Wednesday's explosion in a storage tank at a Tupras refinery which killed four people, the state-run Anadolu news agency said on Saturday, Reuters reports.

Turkish authorities have detained seven people over Wednesday's explosion in a storage tank at a Tupras refinery which killed four people, broadcaster NTV said on Thursday, Reuters reported.

The explosion occurred following maintenance work at the company's refinery in the western Turkish province of Izmir, but had no impact on production.