Chairman of the Executive Board of Turkish Petroleum Refineries Corporation, TUPRAS, Mehmet Omer Koc has been elected as chairman of the board of Turkey’s largest company Koc Holding, according to a statement issued Monday.
Omer Koc, the second son of Turkish billionaire Mustafa Rahmi Koc, was also the vice president of the executive board of Koc Holding.
Mustafa Koc, the eldest son of Rahmi Koc and the former chairman of the board of Turkey’s largest company Koc Holding, died last month at the age of 56 after suffering a heart attack. He was chairman of the board of the family conglomerate since 2003.
The new head of the Koc Holding has strong links with Turkey's energy industry.
Omer Koc was the head of Koc Holding Energy Group between 2000 and 2004. He was made a member of the board of TUPRAS in 2006 and became chairman of the board from 2008 onwards.
TUPRAS, Turkey’s largest industrial enterprise is the seventh biggest refining company in Europe and 29th biggest refining company in the world with a 28.1 million ton production capacity. The company is a leading brand in Turkey topping the Fortune 500 companies supplying crude oil, producing and exporting refined petroleum products. It is also involved with the storage, transportation, distribution and marketing activities in the petroleum industry.
According to the Nelson Complexity Index which defines technical ratings of refineries, the existing refinery complexity of Tupras is equal to the complexities of refineries in France on the Mediterranean coast. The index has determined that the existing refinery complexity of Tupras at 7.25 complexity level is higher than that of the Mediterranean refinery complexity at 5.95.
- Resid Upgrade Project of TUPRAS
The main purpose of the Resid Upgrade Project (RUP) is to build units that process low value fuel oil and convert it to valuable products.
The Resid Upgrade Project (RUP) has been determined for the İzmit Refinery of TUPRAS located in the Gulf of İzmit which was initiated under the presidency of Omer Koc. The refinery is at the center of a consumption hub near densely populated and industrial regions in and around Istanbul, Kocaeli and Bursa, which accounts for around 40 percent of Turkish petroleum product consumption,
With the completion of the RUP, TUPRAS began to process 4.2 million tons of high sulfur fuel oil and produce 3.5 million tons of valuable high quality white products such as diesel/jet fuel, gasoline and LPG in Euro-V standards, while 690,000 tons of petroleum coke and 86, 000 tons sulfur were also produced.
The facility was completed in December 2014.
By Muhsin Baris Tiryakioglu
Anadolu Agency
muhsin.tiryakioglu@aa.com.tr