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Aramco moves to forefront in acquisition of Petrol Ofisi in Turkey

by ChemOrbis Editorial Team - content@chemorbis.com
  • 23/02/2017 (10:53)
According to Reuters, Saudi Aramco is believed to be in the lead to acquire Turkish fuel stations business, Petrol Ofisi, from Austrian Group OMV.

Saudi Aramco reportedly placed its bid and is waiting for the decision to be finalized.

State Oil Company of Azerbaijan (SOCAR) is also said to have placed a bid.

Last year, OMV declared its intention to sell its Turkish arm in order to focus on its upstream oil and gas production businesses as well as its downstream refining, sales and distribution operations. It also voiced its expectation this month to complete the sale of Petrol Ofisi in 2017.

Petrol Ofisi has almost 2000 petrol stations, a mineral oil factory, 11 fuel and three LPG terminals. It also had a 24% of market share in Turkey with sales of 5.95 million tons of fuel in 2015.
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