Turkey's state firms TPAO and Botas seek opportunities abroad
With an energy-hungry domestic market to feed, TPAO and Botas see opportunities abroad, especially in Iraq
Turkey's upstream-focused NOC, Turkish Petroleum Corporation (TPAO) dominates the Turkish hydrocarbons landscape, producing three-quarters of the country's total crude output of about 310,000 barrels a day (b/d) in 2012. But the state-owned player, which still enjoys preferential rights in the semi-liberalised domestic market, has planted its footprint further afield in recent years, allying itself with supermajors Shell and ExxonMobil and extending its reach into Libya, Azerbaijan, Colombia and Kazakhstan and - crucially - Iraq. This overseas reach mirrors the shifts in the Turkish state's relationships with its neighbours, and the growing strength of Turkey's economy during 10 years of AKP
Also in this section
29 April 2026
The UAE’s exit from the alliance marks a decisive step towards a world in which oil markets are shaped less by collective management and more by national strategy
29 April 2026
Trafigura’s $1b prepayment agreement confirms African resource holders’ renewed interest in oil-backed financing deals as they look to capitalise on high oil prices
29 April 2026
The UAE’s departure from the oil producers’ group was a surprise to many, but the move can be traced back to a single point five years ago
28 April 2026
Oil traders warning of $200/bl oil are wrong, and the market should be wary of proclamations that the impact of the oil shortage has only begun to be felt and a that a ‘harsh adjustment’ is coming—even for industrialised nations
