Alkagesta to add eight bunkering vessels through Energy Petrol acquisition
Firm has agreed to acquire Energy Petrol, one of Turkey’s independent marine fuel distributors, in a deal that includes eight bunkering vessels and a lease of 28,000 cbm of tank capacity in Turkey.
Malta-based global commodity trading house Alkagesta recently announced an agreement to buy Energy Petrol, one of Turkey’s independent marine fuel distributors.
This follows approval of the deal by the Turkish Competition Authority, with the two parties now entering the closing stages of the deal.
“This represents a major increase in the company’s presence in the Eastern Mediterranean and is the latest step in Alkagesta’s efforts to grow its infrastructure assets,” the company said.
Energy Petrol, founded in 1997, represents nearly 10% of Turkey’s 2.5 million-tonne per year marine fuel market. It is one of the ‘big five’ marine fuel distributors in the country, sitting alongside Petrol Ofisi (owned by Vitol), SOCAR Marine (owned by SOCAR), Opet and Arkas.
This story was originally published by Manifold Times. Read the full story at Manifold Times →
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