Vitol’s fuel distribution company, Petrol Ofisi, agreed to buy BP Plc’s gas station operations in Türkiye for an undisclosed sum, the company announced on Thursday.
According to the announcement, Petrol Ofisi will expand its Turkish retail network by 770 stations to more than 2,700 sites upon regulatory approval, which the companies expect to be completed in 2024.
Chris Bake, chair of Petrol Ofisi and member of the Vitol executive committee, said, ‘We are delighted to be working towards building a stronger national champion for Türkiye’s energy sector. With its young population and potential for growth, we believe in Türkiye’s future.’
Mehmet Abbasoglu, CEO of Petrol Ofisi, added, ‘We are very excited by this opportunity to build a stronger strategic platform to serve the Turkish market. We look forward to welcoming our new colleagues in due course.’
BP’s subsidiary, BP Turkey Refining Limited, holds a 51% stake in the oil terminal ATAS Anadolu Tasfiyehanesi AS joint venture.
As a leading player in the Turkish fuel distribution industry, Petrol Ofisi also operates the largest retail station network in Türkiye. Moreover, it is a major fuel supplier to commercial and industrial customers.
