TÜPRAŞ-TÜRKİYE PETROL RAFİNERİLERİ A.Ş.

Forward Looking Evaluations

Publish Date:09.05.2022 06:37:33
Disclosure Type:ODA
Year:
Period:

Summary

Update on Forward Looking Expectations

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English
Forward Looking Evaluations
Update Notification Flag
Evet (Yes)
Correction Notification Flag
Hayır (No)
Date Of The Previous Notification About The Same Subject
16.02.2022
Postponed Notification Flag
Hayır (No)
Announcement Content
Explanations

2022 expectations are given below;

Tüpraş Net Margin

Tüpraş Net Refining Margin expectation is 8 – 9 $/v  (previously: 4 - 5 $/v)

Operational Targets

Capacity utilization: %90-95  (no change)

Production: ~26-27 million tons  (no change)

Total Sales: ~28-29 million tons  (no change)

Investments

Total investments expectation is ~300 Milyon $  (no change)

Approximately 45% of our investments are focused on sustainability, including energy efficiency and environmental projects.

Med Complex Margin

The Mediterranean Complex Refinery Margin is a theoretical calculation and has lost its indicative quality due to the high volatility observed in the oil markets recently. Considering these conditions, expectation sharing regarding this indicator has been stopped until market conditions normalize.

Net Refining Margin

While preparing our Net Refinery Margin expectation, it was assumed that the current high level of product margns would gradually return to seasonal normals towards the end of the second quarter.

We proclaim that our above disclosure is in conformity with the principles set down in “Material Events Communiqué” of Capital Markets Board, and it fully reflects all information coming to our knowledge on the subject matter thereof, and it is in conformity with our books, records and documents, and all reasonable efforts have been shown by our Company in order to obtain all information fully and accurately about the subject matter thereof, and we’re personally liable for the disclosures.