Turkey has refining capacity of 802,275 bbl/d at 7 refineries. Refining and other downstream operations in Turkey are dominated by partly-state-owned company Tupras, which has four main refining complexes: Batman in the southeast, Aliaga near Izmir, Izmit near Istanbul (the countrys largest refinery, damaged during the August 1999 earthquake), and the Central Anatolian Refinery at Kirikkale near Ankara. In 2002, Tupras share of the Turkish fuels and lubricants market was around 78 percent, with other major retailers including BP, ExxonMobil, TotalFinaElf, Agip, and ConocoPhillips. Tupras is planning a fifth refinery -- a $700-$800 million facility near Yarimca in western Turkey -- to be completed by 2007. Tupras has a modernization program designed to switch output at its refineries towards lighter products and to meet European standards. Turkeys sole private refinery is Atas, with a capacity of 88,000 bbl/d, located near Mersin on the Mediterranean coast, a joint venture of ExxonMobil (51 percent), Shell (27 percent), BP Amoco (17 percent), and local company Marmara Petrol ve Rafineri Isleri AS (5 percent). A report in June 2004 indicated that Atas would shut down due to profitability concerns. In late June 2005, Tupras was granted a $128 million loan by the Turkish Finance Ministry to upgrade the Kirikkale refinery so it meets EU regulations. In July 2002, Turkeys government announced that it would sell its 25.8 percent share in POAS to the majority shareholder, Is Dogan Petrol Yatirimlari AS (Dogan). The announcement came amidst calls by the IMF for an acceleration in Turkeys privatization process. In October 2004, Dogan announced that it had dropped plans to sell its 47 percent stake in the company to foreign investors after failing to receive adequate offers. In June 2005, POAS applied for pre-qualification on a bid for Tupras. One of Turkeys next priorities for privatization in the energy sector is the countrys largest petrochemical producer, Petkim. In August 2003, Turkey announced the opening of a tender for sale of an 88 percent stake in Petkim after canceling another possible sale, for $605 million to the prominent Uzan family. In April 2005, 35.4 percent of the governments shares in Petkim were sold, mainly to foreign investors, for $267 million.