BP sell Turkish autogas businesses Oteko

BP to sell Turkish autogas businesses to Oteko

11:49 AM, 28th November 2012
BP to sell Turkish autogas businesses to Oteko

LONDON, UK: BP Gas Turkey announced that Russian based Oteko Group has agreed to buy its bottle, wholesale LPG, and Petgaz-branded autogas businesses. BP is retaining its BP-branded autogas business and plans to integrate it into BP Turkey’s Fuels Value Chain, which runs the company’s fuels business including its retail sites in Turkey.

Subject to the sale are all the assets of the LPG bottles and wholesale and Petgaz branded-autogas businesses. These businesses annually supply approximately 400,000 tonne of bottle, wholesale and autogas LPG through 500 customers and dealers. The sale of the business to Oteko follows BP’s announcement in February that it intended to sell its LPG bottles and bulk businesses, as well as some of its wholesale LPG activities, in the UK, Portugal, Austria, Poland, Netherlands, Belgium, Turkey, China, and South Africa.

“BP is committed to Turkey. It is an important country placed in a central part of the Eastern Hemisphere region. It has excellent BP fuels, lubricants and aviation businesses that are well positioned for growth and the BTC pipeline plays a key part in meeting fuel demands for the region and wider markets. The sale of the LPG business follows a strategic review of this business, and we feel that Oteko are best placed to develop the business in the future in Turkey,” said Tufan Erginbilgic, Chief Operating Officer, Refining and Marketing, BP.

© WOC News 



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