Turcas Petrol A.Ş. (“Turcas”) operates in Turkish Energy Market with its deep experience dating to 1931 and diversified portfolio. Turcas has an investment holding structure with participations in leading oil and energy companies. Turcas’ vision is to become the highest value generating “Energy Focused Investment Company” in Turkey.

Turcas’ 30% subsidiary in fuel distribution and lubricants business, Shell & Turcas Petrol A.Ş. reached a turnover of 161 billion TL in 2022 thanks to its network of more than 1,150 Shell-branded fuel stations nationwide, oil storage terminals, lubricants production and marketing activities. With this turnover, it is not only a leader of the energy sector, but also among the top 10 largest companies in Turkish economy. In the field of energy, Turcas and its German partner RWE took the 800 MW Denizli Natural Gas Combined Cycle Power Plant into operation in 2013. Supporting Turkey’s network supply security by its high technical capability, Denizli Power Plant is capable of meeting 2% of Turkey’s power demand solely. During 2022, RWE & Turcas South Power Generation achieved a turnover of TL 8.5 billion.

Shell & Turcas continues to be the market leader in gasoline and lubricants sales as of the first quarter of 2023 with 28.7% and 27.8% market shares (according to PETDER data), respectively. Shell & Turcas is also market leader with 21.7% market share in under canopy sales (according to EMRA data). Shell & Turcas maintains its leadership in throughput ratio (white product sales/station) which is the key indicator of profitability in the sector.

Shell & Turcas's network consists of more than 1,150 nationwide Shell-branded stations as of first quarter of 2023.

Shell & Turcas achieved 33 billion TL net sales and 155 million TL EBITDA in the first quarter of 2023.

800 MW Denizli natural gas fired combined cycle power plant which has been jointly constructed by RWE (70%) and Turcas (30%) is operational since June 2013.

RTG’s power generation was recorded as 484 GWh during the first quarter of 2023 indicating a capacity utilization ratio of 28%, due to the pre-planned major maintenance that took place during half of the relevant quarter.

RWE & Turcas achieved 2 billion TL net sales and 78 million TL EBITDA in the first quarter of 2023.

Yes, Turcas is a member of Borsa İstanbul Corporate Governance Index since 2010 and increases its corporate governance rating continuously. As of 28 February 2023, Turcas’ corporate governance rating is 9.60 out of 10 (2022: 9.58). This achievement confirms that Turcas complies with Capital Markets Board’s corporate governance principles to a great extent. Turcas has the second highest corporate governance rating among energy companies in Turkey.

The Board of Directors of Turcas takes into consideration the Company’s Articles of Association, relevant laws, legislation, market conditions, planned capex investments and their financing while deciding on the distribution of dividends. You can access our Dividend Policy under Investor Relations menu, at our website.

You can access our Financial Statements under Investor Relations menu, at our website.

You can access our annual reports under Annual Reports in the Investor Relations menu, at our website.

You can access our Corporate Governance Compliance Report and Corporate Governance Information Form via Public Disclosure Platform web site, Turcas Company page.

Our Investor Presentation can be found under Investor Presentation at our website.

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