Privatisation of Turkish fuel retailer attracts four domestic bidders

Four companies have submitted bids for Turkey's state-owned fuel retailer Turkiye Petrolleri, the country's privatisation agency said on Monday.

Zulfikarlar Holding, Siyah Kalem Muhendislik Insaat Sanayi ve Ticaret, SBK Holding and a consortium of Termopet-Net-Cemil Direkci have submitted bids in the tender, the agency said without disclosing the sums involved.

Turkey has some of the steepest fuel prices in Europe but heavy taxes and other regulations have squeezed profit margins for the 70 different retailers, prompting some foreign players to seek an exit.

French oil major Total sold its gas stations and distribution operations to Turkey's Demiroren for 325 million euros ($365 million) last year and Austrian energy group OMV is looking to sell subsidiary OMV Petrol Ofisi.

Turkiye Petrolleri has about 400 filling stations and a 4.4 percent share of Turkey's 25 million tonne fuel retail market.