SOCAR plans to acquire some shares of OMV Petrol Ofisi’s subdivision

Photo: SOCAR plans to acquire some shares of OMV Petrol Ofisi’s subdivision  / Oil&Gas

Azerbaijan, Baku, July 19 / Trend A. Taghiyeva /

The State Oil Company of Azerbaijan (SOCAR) intends to purchase POAIR company's some shares, which is a subdivision of the Turkish fuel distribution network OMV Petrol Ofisi, Reuters said on Friday, citing a source in the oil and gas market.

The source did not disclose the percentage of shares to be bought by SOCAR.

According to the report, around 41.58 percent of POAIR's shares are owned by Austrian company OMV, 55.4 percent - OMV Petrol Ofisi holding. Around 3.02 percent of the shares are in free circulation on the stock exchange.

POAIR company owns about 100 terminals for aircraft refueling at airports of Istanbul, Ankara, Antalya, Izmir and Mugla. These terminals serve about 240,000 planes a year.

Currently, SOCAR is engaged in the Star refinery construction in Turkey, as well as interested in power distribution networks of the country. In particular, the Energy Market Regulatory Authority of Turkey (EPDK) issued a license on the gas distribution in the country to SOCAR Gaz Ticareti A.Ş in January 2013.

The license is granted for a period of 30 years. The company will distribute annually 700-800 million cubic meters of gas imported from Azerbaijan to Turkey.

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