Indian Oil Corporation (IOC) has bid to acquire Turkey's petroleum refinery TUPRAS, which has a combined processing capacity of 27.6 million tonnes per annum.IOC has submitted a letter of intent to the Turkish Privatisation Administration (PA) to acquire 51% stake in TUPRAS, for which eleven other local and international oil firms are also in the fray.It is the second time that TUPRAS has put its block shares on sale.
