Vitol announced that VIP Turkey Enerji AS, a subsidiary of Vitol Investment Partnership Ltd, has agreed to acquire OMV Petrol Ofisi Holding A.S (“Petrol Ofisi”) from OMV AG, the international integrated oil and gas company based in Vienna, subject to certain conditions precedent and relevant regulatory approvals. The total purchase price of the transaction amounts to EUR 1,368 million.

Petrol Ofisi is the market leader in fuel products and distribution in Turkey with a market share of circa 23 per cent. 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 meters, Turkey’s leading distributor of lubricants and the into wing supply of jet fuel at 20 airports. Total sales volume in 2016 was 10.68 million tonnes.

Ian Taylor, President & CEO, 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 HSSE. We are committed to maintaining this excellent track record and greatly look forward to working with the Petrol Ofisi team to capitalise on Turkey’s strong economic performance and growing demand for energy products.”

About Vitol

Vitol is an energy and commodities company; its primary business is the trading and distribution of energy products globally – it trades over six million barrels per day of crude oil and products and, at any time, has 200 ships transporting its cargoes.

Vitol’s clients include national oil companies, multinationals, leading industrial and chemical companies and the world’s largest airlines. Founded in Rotterdam in 1966, today Vitol serves clients from some 40 offices worldwide and is invested in energy assets globally including; circa 15.5mm3 of storage across six continents, 390kbpd of refining capacity and Shell-branded downstream businesses in 16 African countries, as well as Australia. Revenues in 2015 were $168 billion.

About OMV Aktiengesellschaft

OMV is producing and marketing oil & gas, innovative energy and high-end petrochemical solutions – in a responsible way. With Group sales of EUR 19 bn and a workforce of around 22,500 employees in 2016, OMV Aktiengesellschaft is one of Austria’s largest listed industrial companies. In Upstream, OMV has a strong base in Romania and Austria and a balanced international portfolio. 2016 daily production stood at approximately 311,000 boe/d. In Downstream, OMV has an annual refining capacity of 17.8 mn tonnes and approximately 3,800 filling stations in 11 countries (including Turkey) as of end of 2016. OMV operates a gas pipeline network in Austria and gas storage facilities in Austria and Germany. In 2016, gas sales volumes amounted to 109 TWh.