LNG

March 6 (LNGJ) - Global commodities trader Vitol, increasingly active in the LNG market, has spent US$1.44 billion to purchase Turkish retail fuel company OMV Petrol Ofisi Holding from Austrian parent company OMV AG. Petrol Ofisi is the market leader in fuel products and distribution in Turkey with a market share of around 23 percent. Its business comprises the largest retail station network of over 1,700 service stations, the largest fuel storage and logistics business in Turkey with a total storage capacity in excess of 1 million cubic metres.
Ian Taylor, President and Chief Executive of Vitol, said: “This is a strong business in a growing market. Its market leading brand has benefitted from OMV’s focus on high standards of health and safety. We are committed to maintaining this excellent track record.”