Oil refinery TUPRAS tops Fortune 500 Turkey list

By Tuba Sahin

ANKARA (AA) - Oil refinery TUPRAS topped Fortune 500 list for Turkey with a net sales revenue of 53.9 billion Turkish liras ($14.8 billion) in 2017.

According to the list, EPIAS, also known as Energy Stock Exchange Istanbul, came in second place with a net sales revenue of 41.2 billion liras ($11.3 billion). It was followed by fuel oil distribution and lubricants company Petrol Ofisi with 40.8 billion liras ($11.2 billion) in net sales figure.

It revealed that total net sales of Turkey's top 500 companies rose 29.5 percent year-on-year to hit 1.2 trillion liras ($330.3 billion) in 2017. Their net profits also surged by 52.3 percent during the same period.

Exports of the leading 500 Turkish companies totaled to 286.5 billion liras ($78.7 billion), up almost 30 percent compared to previous years.

The list includes publicly and privately held companies for which revenues are publicly available.