UAE businesses started negotiations regarding renewable energy investments in Turkey. Delegations from the UAE frequently come to Turkey. UAE companies are reported to be holding talks with the energy bureaucracy in Ankara. UAE companies have also established contact with the private sector that has investments in the field of energy. However, it will take a long time for these negotiations to turn into investment. It is considered low probability that a concrete investment decision will be announced in 2023.
Meanwhile, the real surprise came from Saudi capital. Saudi Arabia’s giant oil company, Saudi Aramco, has kept a close watch on the Turkish fuel distribution sector. Aramco started negotiations to acquire an important fuel distribution company with a widespread dealer network in Turkey. Reliable sources said that the talks have reached a certain stage.
We cannot give the name of the fuel distribution company in question at this stage upon the request of the news source.
If the sales process deepens and the decision stage is reached, we will share the name of the relevant company with you.
Industry sources reminded that Aramco wanted to enter the fuel distribution sector in 2017 adding, “In 2017, the owner of Petrol Ofisi was Austrian OMV. Aramco was interested in Petrol Ofisi. “He held meetings,” he said.
OMV sold Petrol Ofisi to the Dutch Vitol Group for 1 billion 368 million euros.
Aramco lost Petrol Ofisi to Vitol in 2017. Let’s see how Türkiye’s new move in the downstream energy sector will work out.
Follow our English language YouTube videos @ REAL TURKEY: https://www.youtube.com/channel/UCKpFJB4GFiNkhmpVZQ_d9Rg
And content at Twitter: @AtillaEng