Bloomberg - Tupras, Turkey’s sole oil refiner, said profits in 2009 surged 88 percent – a number far higher than analysts had predicted – as oil prices soared and the Turkish Lira held steady against the US dollar.

The company’s net income rose to TRY 811.3 million, up from TRY 432.2 million in 2008, said the Kocaeli-based company owned by Koc Holding in a filing with the Istanbul Stock Exchange (IMKB) on Monday.