SOCAR may refuse to purchase OMV's Petrol Ofisi

SOCAR may refuse to purchase OMV
# 23 January 2017 07:55 (UTC +04:00)

“Petrol Ofisi is the most expedient option for us. Of course, out assessment is underway”, he said.


Gahramanov added that if purchase of Petrol Ofisi fails, the company has B and C plans: “Other companies may be purchased or a new company may be established”.


OPET and BP have stopped participating in the tender for acquisition of Istanbul-based OMV Petrol Ofisi AS.


So, Saudi Aramco, Petromi-C, Vitol and SOCAR are still participating in the tender.


Saudi Aramco has offered €1.6 billion to acquire Petrol Ofisi AS. As reported, Saudi Aramco has involved the HSBC bank in the negotiation process.


SOCAR said it will participate in a tender to buy Austrian oil company OMV's network of nearly 1,800 petrol stations in Turkey, a SOCAR official said on Tuesday, Vagif Aliyev, the head of SOCAR's investment department, told Reuters.


OMV said in February it was putting Turkish fuel products distribution and lubricants subsidiary OMV Petrol Ofisi up for sale as part of its strategy to dispose of non-core assets.


"SOCAR has submitted an application to participate in a tender for buying the network of petrol stations from OMV," he said.