Oil Trading > Ongoing Projects
Venezuela Petcoke Trade
Under the guidance of Republic of Turkey Ministry of Energy and Natural Resources, TPIC started negotiations with Venezuela State Company PDVSA and signed a good-will agreement in 2015, for the purpose of business development in terms of petcoke and petroleum products trade.
Bangladesh Gasoil Trade
Turkish Petroleum International Company(TPIC) and Bangladesh Petroleum Corporation(BPC) signed “ gasoil purchase & sale contract” on December 2014. BPC concluded the negotiations with governmental companies on imports of oil products during first half of 2015 with 10 companies such as Malaysia’s PETRONAS, Philippines’ PNOC, Emirates’ ENOC, Vietnam’s Petrolimex, etc., including Turkey’s TPIC for the first time. In this context, TPIC successfully shipped 62.460 tons of gasoil %0.05 (500 ppm) to BPC in 2015. Through this initiative, TPIC aims at increasing its activities in Southeast Asia market. BPC has decided to purchase some part of the cargoes via tendering procedure for 2016. Within this scope, TPIC was decided to supply up 60.000 tons of gasoil to BPC of which 30.000 tons would be guaranteed and 30.000 tons would be optional.
Libya NOC Crude Oil Trade
Within the scope of contract on “crude oil purchase&sale” signed between TPIC and NOC in January, 2013; 10 cargos are agreed of which 4 cargos will be assured and 6 cargos will be optional depending on the export capacity. Each cargo will consist of 600.000 barrels and the expected volume is 670 million USD.
Iraq Crude Oil and Oil Products Trade Project
TPIC launched oil products trade with Iraq in 1999. Petroleum products supplied from Tüpraş and international market were delivered to Iraq Petroleum Marketing Company SOMO through land transport and railway. Between the years 1999-2002, 1.8 million tons of oil product brought to TPIC/Habur plant from Iraq were sold to the national fuel oil distribution companies. In addition, between the years 2000-2003 5.4 million tons of crude oil was sold to Tüpraş through sea-shipment after being brought by TPIC from Iraq through land transport. Between the years 2003 and 2010, TPIC traded 1.9 million petroleum products, fuel-oil and gas oil in total. As an important player in the region, TPIC’s attempts for similar new projects in Iraqi trade continue.
National Diesel Project
Since 2009, TPIC have been supplying gasoil from international market to the distribution companies in the national oil products market. In this framework around 572 thousand tons of gasoil was sold.