14:00 - 5.08.2026

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August 5, Fineko/abc.az. Turkey’s leading oil refiner Tüpraş reported its Q2 2026 financial results, posting a 291% year-on-year and 1,048% quarter-on-quarter increase in net profit to 45.9 billion Turkish liras (TRY) (approx. $965.3 million), beating market consensus estimates of 30.7 billion TRY (approx. $645.6 million) by 50%.

Elevated crude oil prices and historical refinery margins driven by regional conflicts significantly boosted the company's financial performance. Quarterly revenue expanded by 60% to 386.4 billion TRY (approx. $8.12 billion), while EBITDA surged 197% to 54.3 billion TRY (approx. $1.14 billion).

Driven by a jump in net refinery margin from $9.4 to $21.4 per barrel, Tüpraş upgraded its full-year refinery margin guidance from $6–7 to $13–15 per barrel. The company’s net cash position also strengthened, rising from 80 billion TRY (approx. $1.68 billion) to 131 billion TRY (approx. $2.75 billion).