Vitol completes acquisition of Turkey’s Petrol Ofisi
Vitol has announced that VIP Turkey Enerji AS, a subsidiary of Vitol Investment Partnership Ltd has completed its acquisition of OMV Petrol Ofisi Holding A.S from OMV AG as announced in Tank News International earlier in the year.
Head of Investments, Vitol and Chairman of Petrol Ofisi, Javed Ahmed said: “As long-term investors we see strong potential in the Turkish market. Petrol Ofisi has been the market leader serving Turkey’s energy consumers for over 75 years. We will work closely with the Petrol Ofisi management team and employees to energise our brand, strengthen our dealer relationships and serve our clients and customers in the best way possible. Vitol has a history of investing to grow businesses and this is a tremendous opportunity to refocus Petrol Ofisi for the future.”
Petrol Ofisi is the market leader in fuel products and distribution in Turkey with a market share of circa 23%. Its business comprises the largest retail station network of over 1,700 service stations, the largest fuel storage and logistics business in Turkey with a total storage capacity in excess of 1 million cubic meters, Turkey’s leading distributor of lubricants and the into wing supply of jet fuel at 20 airports. Total sales volume in 2016 was 10.68 million tonnes.
For more information visit www.vitol.com
19th June 2017