Turkey's oil products demand remains on a solid upward trajectory and is considered to be the largest growth market in Europe. SOCAR is currently building the only grass roots refinery project in Europe - completion expected in 2018 - which will break the long-held Tupras refining monopoly. The retail landscape changed drastically in 2010 with the introduction of five year service station dealer contracts, with many of these changing brand again in 2015. Despite the country's strong growth prospects, Total announced the sale of its standalone Turkish fuels marketing business in 2015, with OMV also now looking to exit this market as of early 2016. Price caps introduced by regulator EMRA in recent years have raised concerns about the long-term profitability for fuels marketers in Turkey.
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The long-term outlook for the fuels marketing sector is influenced by many factors: oil product demand, the market structure, key companies and downstream infrastructure developments to name a few.
This long-term outlook report provides a country update of demand trends and an assessment of the key players and assets serving the market.
The report is based on in-depth research about oil product demand, individual market participants and assets and helps downstream operators, traders and financial institutions determine product trading strategies, optimise their assets and identify attractive investment opportunities.
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Commodity market report | Aug 2016
Turkey downstream oil long-term outlook 2016
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