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Strategies & Market Trends : The Thread Formerly Known as No Rest For The Wicked

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To: Bill on the Hill who wrote (53738)	8/18/1999 7:31:00 AM
From: kendall harmon	Read Replies (1) of 90042

Oil prices--role of turkish fire? Among major industrial damage, a fire set off by the earthquake at an Izmit oil refinery run by Tupras Turkiye Petrol Rafinerileri AS spun out of control overnight and was endangering the surrounding area. The fire could lead to a major explosion at the refinery and the government has appealed for more fire- fighting planes, of which Turkey has few. Oil Threat The 226,000-barrel-a-day Izmit refinery accounts for a third of Turkey's refining capacity, and a prolonged halt will force the country to import more refined products from Europe, traders said. Turkey already imports 90 percent of the oil it uses, mostly in the form of crude, from Middle East producers. Tupras is one of several state assets that Turkey is considering selling to investors this year...

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