Haberler      English      العربية      Pусский         Kurdî      Türkçe Delivering News and Insights Around the World Keltis
  En.Haberler.Com - Latest News
SEARCH IN NEWS:
  HOME PAGE 30/11/2021 21:39 
24.11.2021 13:12 News >> Turkey's Tupras To Invest $10B By 2050 As Part Of Strategic Transition Plan

Turkey's Tupras To Invest $10B By 2050 As Part Of Strategic Transition Plan

Company kickstarts its strategic transition roadmap to become carbon neutral by 2050.

Turkey's energy giant Tupras plans to invest $5 billion by 2035 and $10 billion in total by 2050 as part of its Strategic Transition Plan, the company announced on Wednesday.
Under the parent company Koc Holding's "Carbon Transition Program", which comprises feasible steps to combat the climate crisis and for the company to become carbon neutral by 2050, Tupras announced its "Strategic Transition Plan" in an attempt to decrease its carbon footprint.
Thanks to investments towards new energy resources and energy efficiency projects, Tupras projects a reduction of its carbon emissions by 27% in 2030 and 35% by 2035 compared to 2017 levels, before becoming carbon neutral in 2050.
As part of its Strategic Transition Plan, the company will mostly invest in new energy resources such as sustainable aviation fuels, green hydrogen and zero-carbon electricity.
"In the new period, we will focus on sustainable refining, biofuels, zero-carbon electricity and green hydrogen. Our strong side, refining, will be the main driver of our transition," Tupras General Manager Ibrahim Yelmenoglu said during the company's press conference on Wednesday.
Tupras will assign nearly $2.3 billion by 2035 for energy efficiency, modernization, decarbonization and value-added production projects, according to Yelmenoglu, while refining is expected to constitute 90% of the company's operating margin by 2030 and 70% between 2030 and 2035.
"Most of the resources that we will gain from refining will be transferred to new areas and reducing our carbon footprint, while we aim to continue with our high dividend pay policy," Yelmenogulu said.
With time, hydrogen will become our main commercial product, rather than just a side product in our production process, he added.
With plans to have 1 gigawatt (GW) of installed capacity by 2030 and 2.5 GW by 2035, the company aims to provide consumers with zero-carbon electricity.
Tupras has four refineries established in Kocaeli, Izmir, Kirikkale and Batman with a total crude oil processing capacity of 30 million tons per year.
Writing and additional reporting by Ebru Sengul Cevrioglu -



        Latest News
Turkish Aid Group To Give Relief Amid Deadly Drought In Somalia 15 minutes ago...
African nation battling worst drought in more than 10 years.
Nearly 120.4M Coronavirus Vaccine Shots Given In Turkey To Date 16 minutes ago...
More than 56.26M people got 1st dose, over 50.46M fully vaccinated, according to Health Ministry.
Deployment Of Offensive Weapons In Ukraine 'Red Line' For Russia: Putin 16 minutes ago...
Russian president says his country in order to avoid escalation does not deploy hypersonic missile systems.
Turkish Leader Grieves With Azerbaijan Over Helicopter Crash -15 minutes ago...
14 soldiers killed, 2 soldiers injured when helicopter crashed in northeastern Khyzy region, say Azerbaijani authorities.
2.9B People Still Offline, While 4.9B Used Internet In 2021: UN -15 minutes ago...
New International Telecommunication Union data suggests 'COVID connectivity boost' – but world's poorest left behind.

 
      Top News
Report Finds Rampant Sexual Harassment In Australian Parliament Report Finds Rampant Sexual Harassment In Australian Parliament
7 Terror Suspects Nabbed While Trying To Enter Turkey Illegally 7 Terror Suspects Nabbed While Trying To Enter Turkey Illegally
Lebanon Health Minister Hails Turkey's Support To Beirut Lebanon Health Minister Hails Turkey's Support To Beirut
Mediterranean States Seek To Bolster Peace Efforts In Palestine, Libya, Syria Mediterranean States Seek To Bolster Peace Efforts In Palestine, Libya, Syria
Magdalena Andersson Reelected As Sweden's 1St Female Premier Magdalena Andersson Reelected As Sweden's 1St Female Premier
'I Resigned From Twitter': Jack Dorsey Quits As Company's CEO 'I Resigned From Twitter': Jack Dorsey Quits As Company's CEO
Turkey's Borsa Istanbul Ends Monday Up Turkey's Borsa Istanbul Ends Monday Up
PKK Harming Stability Of Iraq's Northern Kurdish Region: Official PKK Harming Stability Of Iraq's Northern Kurdish Region: Official
Omicron Variant Is Wake-Up Call On Vaccine Inequality: South African President Omicron Variant Is Wake-Up Call On Vaccine Inequality: South African President
Chelsea Draw With Man Utd As Jorginho Scores Penalty To Redeem Himself Chelsea Draw With Man Utd As Jorginho Scores Penalty To Redeem Himself