Jul 28, 2023
BP in Talks to Sell Turkish Gas Stations to Vitol’s Unit
, Bloomberg News
(Bloomberg) -- Vitol’s Turkish fuel distribution company Petrol Ofisi is in advanced talks to buy BP Plc’s gas station network in the country.
Talks have been ongoing for around three months and are not finalized, Petrol Ofisi’s Retail Director Yigit Meral told Bloomberg in Istanbul on Friday.
A BP spokesman declined to comment.
Acquired by global energy and commodities trader Vitol in 2017, Petrol Ofisi has the biggest share of Turkey’s fuel market at 23%, according to energy regulator EPDK. Its has over 1,900 gas stations as well as LPG and airport fuel supply operations.
BP has 7% of the market and over 700 gas stations in the country, according to its website.
(Updates with BP response in third paragraph.)
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