Established 1962.
Address: Büyükdere Cad. 1. İmar İşhanı, No: 48, Kat 7, Mecidiyeköy / İstanbul
Number of employees: 30
Capital: USD 623,20.-
Share holders: Istanbul Metropolitan Municipality, two municipal companies (İDO A.Ş., and İSFALT A.Ş.)
Objectives and Operations
BELPET’s objectives are petroleum and petroleum products and the marketing to municipalities and other public or private organizations, as well as construction, operation and lend/lease of petrol and service stations of the company or Istanbul Metropolitan Municipality. Operating car parks is also among the company’s businesses. BELPET not only runs petrol stations but also meets the petroleum and machine oil needs of district municipalities, Istanbul Metropolitan Municipality owned enterprises, municipal institutions such as İSKİ and İETT, government institutions such as universities
Investments
While revenues from lend/lease of BELPET owned petrol stations was below the market levels before 1994, they have been raised to the market levels. All petrol stations have been modernized. The right of banner in these stations was awarded to Turcas Petroleum Company.
In accordance with this, nine stations of BELPET have been rebuilt and modernized by Turcas. Following the modernisation process some stations have been privatised. At present feasibility studies are being carried out in an effort to make
BELPET a major distribution company. The objective is to build and operate 10 new petrol stations.
Sales and Revenues in 1999:
In 1999 BELPET sold 17.024 tons of petroleum and machine oil directly to its customers. It also earned $ 350,000 for hiring operating rights in three petrol stations it owns.An agreement has been concluded with the distribution company OPET in order to build a petrol and LPG station in District Aksaray. The construction of this station is currently underway, and the station is expected to come into operation in February 2000. BELPET intends to intensify its efforts to set up new petrol stations in the future.