SOCAR could buy about 1800 petrol stations in Turkey

SOCAR studies the possibility of purchase of shares of Turkish OMV Petrol Ofisi A.S. company.

In early 2016 Austrian company announced its intention to sell the whole packet of shares of OMV Petrol Ofisi A.S. to optimize its own costs, because of low oil prices at the world markets.

“We are interested in such acquisition and study this issue. However, we are not going to close the deal at any cost,” SOCAR President Rovnag Abdullayev added.

Turkish media reported that in addition to SOCAR, companies from China and Japan are interested in purchasing shares of OMV Petrol Ofisi A.S.

Construction of a new oil refinery STAR by SOCAR in Izmir will be completed at the end of 2017. If SOCAR has its own oil refinery, it could have its own network of oil products sale.

* At present OMV Petrol Ofisi owns 1785 petrol stations, the mineral oil production plant and 3 liquefied petrol gas (LPG) terminals in Turkey. In 2010 Austrian OMV AG purchased 54% shares of OMV Petrol Ofisi company from Turkish Dogan Siketler Grupu for $1.3 billion and then increased its share up to 96%.—0—