SOCAR Turkey studies options for purchasing gas stations in Turkey
Azerbaijan, Baku, April 26 / Trend A.Tagiyeva /
Socar Turkey Enerji, a subsidiary of SOCAR (State Oil Company of Azerbaijan) in Turkey is considering several options for the acquisition of fuel distribution stations in Turkey, Socar Turkey Enerji told Trend on Friday.
"Earlier it was reported that Socar Turkey was negotiating with BP Turkey on purchasing its assets in the fuel distribution field. Besides BP Turkey, other companies' options are also being considered," Socar Turkey Enerji told Trend.
At the same time, the Socar Turkey Enerji Company has not yet come to a final decision on the issue and to date, the process of studying Turkey's fuel distribution market continues, the company noted.
Earlier, some Turkish media reported that SOCAR was going to purchase the assets of BP Turkey which is engaged in the sale of petroleum products in the Turkish market.
If SOCAR purchases BP Turkey, the company will have a 10 per cent share on the Turkish fuel market which means that SOCAR will enter the top four fuel distributing companies in the country.
Previously Managing Director of SOCAR Turkey Enerji Kenan Yavuz reported that SOCAR Turkey Enerji was going to participate in the sale of petroleum products in Turkey.
SOCAR is the only petrochemicals producer in Azerbaijan with two refineries on its balance sheet and owns gas stations in Azerbaijan, Georgia and Romania. Recently, the company acquired a large network of gas stations in Switzerland. SOCAR is a co-owner of Turkey's largest petrochemical complex Petkim.
Via its trade subdivision, SOCAR trades oil in various regions of the world.