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Total to withdraw from fuel retail business in Turkey

by ChemOrbis Editorial Team - content@chemorbis.com
  • 27/04/2015 (14:59)
According to media reports, Total is looking to sell its fuel distribution business in Turkey. The company claimed that profitability in the fuel retailing business is under serious pressure in Turkey as heavy taxes and other regulations significantly limit the margins obtainable in the Turkish fuel market.

Total’s market share is reportedly 5% of the 80 billion lira ($29.4 billion) fuel distribution market in Turkey and it is the sixth largest player in the market. The company will retain a presence in Turkey as it also sells chemical products in the country.
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