Turkish Refiner Tupras Increases Capacity Utilization Rate to 78.7% in 2012, Continues to Cut Iranian Ties

ISTANBUL--February 20, 2012--Researched by Industrial Info Resources (Sugar Land, Texas)--Turkey's sole oil refiner, Tupras (ISE:TUPRS) (Kocaeli,Turkey), increased its crude oil refinery capacity utilization by 4.3% to 78.7%. According to a company statement made to the Istanbul Stock Exchange, Tupras posted $537 million net income in 2012, down 11.1% from 2011. Tupras's net refining margin dropped to $1.72 per barrel, compared with $5.91 per barrel in the previous quarter and $4.42 per barrel in the same period of 2011.