Energy companies top Turkey’s Fortune 500 list

ANKARA/ISTANBUL-Anadolu Agency

Seven energy companies have been listed among the top 10 largest companies in Turkey based on revenue, according to a Fortune 500 list announced on July 3.      

Turkey’s top oil refinery, TÜPRAŞ, ranked number 1 on this year’s list, published annually by the business magazine Fortune, which has a net sale revenue of 34.85 billion Turkish Liras ($9.89 billion) in 2016.      

According to the list co-compiled by two international credit information companies, CRIF and Dun and Bradstreet, energy exchange company EPİAŞ came second with 32.97 billion liras ($9.36 billion), followed by fuel oil distributor OMV Petrol Ofisi with 30.79 billion liras ($8.74 billion).      

The top five were last year’s firsts, state-owned pipeline operator BOTAŞ with 29.68 billion liras ($9.36 billion), and national flag carrier Turkish Airlines with 29.46 billion liras ($8.36 billion).      

OPET Petrol ranked sixth with 20.53 billion liras ($5.83 billion), while TETAŞ came ninth with 16.89 billion liras ($4.79 billion) and SHELL&TURCAS ranked 10th with 16.82 billion liras ($4.44 billion).      

BİM, a leading discount supermarket chain, is ranked seventh on the list, followed by Ford Otosan with 18.28 billion liras of revenue ($5.19 billion). 

Turkey’s top 500 companies increased their net sales by 9.4 percent in 2016 to 930.85 billion liras ($264.39 billion), while their exports increased by 6.74 percent, reaching 220.8 billion liras ($62.7 billion).      
Meanwhile, net profits for Turkey’s leading companies rose 48.5 percent to 42.5 billion liras ($12.1 billion).    
The Fortune 500 list includes publicly and privately held companies whose revenues are publicly available.