The Turkish Competition Authority finds that the privatization of a state owned petroleum refinery operator is a concentration, and will monitor its investments to prevent abuse of dominance (Tupras)

The operation TUPRAS is a state owned company which operates petroleum refineries in Turkey. In 1990, it was decided to privatize TUPRAS, subsequent to which two public offerings were held. As a result of the offerings, the publicly held portion of TUPRAS raised to 34.24% of the total shareholding of TUPRAS prior to the subject matter privatization. Efremov is a German based company which was under the sole control of Tatneft, a petroleum and gas company incorporated in Tatarstan. Tatneft was one of the five biggest petroleum companies based of Russia at the time of this privatization.

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Zümrüt Esin, The Turkish Competition Authority finds that the privatization of a state owned petroleum refinery operator is a concentration, and will monitor its investments to prevent abuse of dominance (Tupras), 29 January 2004, e-Competitions Bulletin Energy & Mergers, Art. N° 21911

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