OMV Turkey divestment plan: Is price regulation compromising market attractiveness?

In February, OMV announced its intention to sell Petrol Ofisi - its market-leading wholesale and retail fuel unit in Turkey. This follows Total's exit from the same market less than six months prior. Total and OMV are part of a larger group of integrated oil companies questioning their non-integrated downstream positions and progressive downscaling and stream-lining their operations across the region. But in the case of Turkey specifically, there is an additional element to consider: fuel price caps imposed by Turkish authorities. The announcements by OMV and Total have raised questions around how Turkey's regulated fuel prices compared to their unregulated regional European neighbours and the sustainability of this practice.