Alkagesta to Buy Turkish Marine Fuels Firm Energy Petrol
The acquisition includes eight bunkering vessels and a long-term lease for 28,000 m3 of tank capacity in Turkey.
Malta-based commodity trading firm Alkagesta has agreed to acquire Turkish marine fuel distributor Energy Petrol, expanding its physical supply operations in the Eastern Mediterranean.
The deal has received approval from the Turkish Competition Authority and is expected to close in the coming weeks, the firm said in an emailed update on Friday.
Founded in 1997, Energy Petrol accounts for nearly 10% of Turkey's 2.5 million mt/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," the company added.
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