Business magazine Fortune has named the Turkish Oil Refineries Corporation (TUPRAS) as the top company in Turkey in their recently released "Fortune 500 Turkey" list.

At a press conference, Fortune Turkey made public its top 500 list in which Turkish Oil Refineries Corporation (TUPRAS) came in first with net sales worth of TL 47 billion ($ 91 billion).

OVM Petrol Ofisi came in second at 20.2 billion liras, Turkish Electricity Distribution was third with 17.1 billion and Turkish Electricity Trade and Contracting Corporation was fourth at 15.4 billion liras. Turkish Airlines (THY) which took fifth place on the list increased its net sales by 10 percent raking in 14.7 billion TL.

A business magazine published in the United States, Fortune has been making public the biggest companies in the world through their "Fortune 500" list since 1955.

Dun&Brandstreet (D&B) Turkey and Finar Corporation carried out the survey for this year's Fortune 500 Turkey list.

SABAH and Agencies