Fuel giant pulls out of Turkey! Stations transferred to another brand

British fuel giant BP has officially withdrawn from Turkey, where it had been operating for 112 years. The transfer process for BP, which decided to transfer all of its fuel stations after reaching an agreement with Petrol Ofisi in November 2023, was completed following approval from the Competition Authority.

According to the report in Ekonomim, the transfer process was fully completed this week. BP has bid farewell to the Turkish market after a 112-year journey.

770 FUEL STATIONS TRANSFERRED TO PETROL OFISI

A statement regarding the matter also came from Petrol Ofisi. In the statement made by the company, it was noted that the transfer process of 770 fuel stations belonging to BP Turkey has been completed, and that payments for BP's affiliated groups in Turkey, such as BP Turkey Refining Limited and BP Petrolleri AŞ, as well as joint venture terminals in ATAŞ, Çekisan, and Ambarlı, have also passed to the Petrol Ofisi Group.

Petrol Ofisi CEO Mehmet Abbasoğlu made the following remarks regarding the transfer process:

"We are very happy to welcome the new century of our Republic with a transaction that will serve as a reference for the sector and contribute to Turkey's energy transition goals. We are accessing a unique ecosystem where the total experience approaches two centuries. With this awareness and responsibility, we will continue to make investments towards sustainable development without slowing down."

The share purchase agreement for the sale of BP's stations in Turkey to the Petrol Ofisi Group was signed on November 14, 2023. The Competition Authority approved the transaction on September 12.

Operating in the Turkish market since 1912, BP has completely withdrawn from Turkey with this transfer. BP's existing stations are expected to begin operating under the Petrol Ofisi brand in a short period of time.

News Source: 12punto