A fire broke out at the TÜPRAŞ refinery in İzmit, Turkey, reportedly during an emergency drill.
According to a statement from the corporation, the fire broke out during a scheduled emergency drill at the refinery and was swiftly contained. At least 12 workers suffered slight injuries and were taken under trearment.
"The fire has been brought under control and the unit has been deactivated in a controlled manner. Our other activities at the refinery continue normally," added the statement.
Meanwhile, the İstanbul Stock Exchange temporarily halted trading for TÜPRAŞ.
In a notification to the Public Disclosure Platform (KAP), Borsa İstanbul stated, “Trading for TUPRS.E, associated warrants, and futures and options contracts based on TÜPRAŞ shares has been temporarily suspended until the company issues a required disclosure on KAP.”
Following the explosion, TÜPRAŞ shares dropped by 3%, reaching as low as 138.5 TL. The shares currently stand at 139.9 TL, reflecting a daily decline of 1.89%.
TÜPRAŞ was established in 1983 as an umbrella company by merging four state-owned refineries in Batman, İzmir, İzmit, and Kırıkkale. It was privatized in 2006 and transferred to Koç Holding. The company produces various petroleum derivatives, including fuel products, bitumen, fuel oil, jet fuel, kerosene, LPG, and motor oil. The İzmit refinery has a crude oil processing capacity of 11.3 million tons per year. (VK)
