BP to sell Turkish fuel operations to Vitol

BP has agreed to divest its fuel operations in Turkey to oil distribution company Petrol Ofisi, owned by global commodities trader Vitol.

Under the deal terms, BP will sell its stake in BP Turkey Refining and BP Petrolleri to Vitol’s subsidiary Petrol Ofisi. Financial terms of the deal were undisclosed.

With the acquisition, Petrol Ofisi’s retail network in Turkey is expected to increase by 770 stations to more than 2,700 sites. BP Turkey Refining owns a 51% stake in the ATAS Anadolu Tasfiyehanesi AS joint venture.

Petrol Ofisi chair and Vitol executive committee member Chris Bake said: “We are delighted to be working towards building a stronger national champion for Türkiye’s energy sector. With its young population and potential for growth, we believe in Türkiye’s future.”