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Vitol sees off rival bids to acquire OMV's Petrol Ofisi fuels business in Turkey


Vitol sees off rival bids to acquire OMV's Petrol Ofisi fuels business in Turkey

Report summary

Turkey's largest fuels marketing business, OMV Petrol Ofisi, has been acquired by the world's largest oil trader, Vitol, for €1.37 billion. With limited retail experience, Vitol will leverage its trading and logistics expertise to optimise the supply chain and maximise its margins. Turkey's growth market has suffered set backs in recent years from political instability, a weaker domestic currency and low fuel margins due to government-imposed price caps. OMV struggled to integrate Petrol Ofisi into the wider downstream business, divesting it as part of its portfolio high-grading and refocus on upstream growth.

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This Refining and Oil Products Inform report highlights the key issues surrounding this topic, and draws out the implications for those involved.

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