Savka Aves Termik Santral Yağ Fabrikası Savka Depolama

History

Aves was founded in mid 1990's by Senan IDIN, who has actively engaged in every aspect of oil trading, transportation and distribution for long years. Originally set up as an importer of refined oil products from Iraq, Aves became a gasoil exporter to Iraq soon after the 2nd Gulf War in 2003 which had swept away the refining capacity of Iraq.

In 2004, Aves began to supply gasoil to Iraq's State Oil Marketing Organization (SOMO), which is purchased from international oil markets via the Group's Oil Terminal. During 2004-2006 Aves was the second largest Turkish supplier of gasoil to SOMO and the only privately owned gasoil supplier to Iraq authorized by the Turkish government. The refined oil exports to Iraq halted by early days of 2007 due to political reasons.

Beginning with 2006, Aves has initiated trade agreements with highly reputable international oil trading firms such as Glencore, Gunvor, Lukoil, Mabanaft, Mercuria, Projector and Trafigura either by term contracts or on spot basis utilizing SOIL Terminal for storage. Despite the absence of exports to Iraq, Aves managed to increase its sales 3.5 times in 2007 while increasing the profitability.

Investing not only in physical assets but also in Human Resources, Aves built a young and dynamic team and sponsored some employees in their education in London on international oil trading and risk management. Today, Aves is a well-known figure in Mediterranean oil products market and by highly respected European trading companies, brokers and banks.

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