SOCAR Turkey is currently reviewing the sale of fuel dispensing company, Petrol Ofisi in Turkey with a view to a potential purchase, president of SOCAR Turkey said on Tuesday.
Petrol Ofisi with over 1,785 fuel dispensing facilities across Turkey belongs to Austrian energy giant OMV. It has been put for sale in February, 2016 due to financial difficulties.
SOCAR's CEO, Rovnag Abdullayev, had also stated over the weekend that his company is interested in the possible purchase of Petrol Ofisi.
"Our CEO told me and my team to examine and analyze the selling process of Petrol Ofisi. We have a refinery project that will be operational in 2018 and thus, dispensing sector is one of the most significant parts of our integration," president of SOCAR Turkey, Kenan Yavuz, told Anadolu Agency.
"However, the instruction our CEO gave us does not mean that 'SOCAR will definitely buy the corporation'. We will analyze it in line with our strategies, targets and plans of our company. We will inform the public about any development in the issue," Yavuz emphasized.
He also stated that Turkey is regulated with world-standard regulations and claimed that it is not mandatory to have dispensing facilities for companies who have refinery projects.
"We still have time to look at examining the processes and developing strategies for such an investment. Additionally, since it is not mandatory, we can sell our products to the market without having dispensing facilities in Turkey," he underlined.
(Anadolu Agency)
