Turkish petroleum company, Turkuaz Petrolleri, which has reached over 700 dealerships following the purchase of Türkiye Petrolleri, will gather all of its stations under the TP roof. The company will invest $100 million in new stations and brand adaptation.
Çağdaş Demirağ, General Manager of the Turkuaz Petrolleri and Türkiye Petrolleri companies, stated that they aim to merge the two existing fuel companies under a single roof. "We plan to reach 800 petrol stations by the end of 2018. At the end of next year or early 2019, our total investment amount for both new station investments and station changes will reach approximately $100 million," he said. Explaining the company's strategies and targets for the new period at a press conference, Demirağ said Zülfikarlar Holding's subsidiary Turkuaz Petrolleri has undertaken one of the biggest privatizations of 2016 by purchasing Türkiye Petrolleri for TL 490 million.
Demirağ said they aim to merge the two existing oil companies under the name of Türkiye Petrolleri, noting that the official merger process of the two companies will be completed by the end of the year. "By strengthening the name of Türkiye Petrolleri, we are working on a project that will collect all the stations under this roof and we will carry out brand changes within two years," he added.
Ongoing talks with 3 firms
Demirağ stated that they will continue company purchases in the fuel distribution sector, adding that they aim to be among the top three companies in terms of market share in the Turkish distribution sector.
Noting that they are currently holding new talks regarding the company purchases, Demirağ said they are interested in the purchase of domestic and foreign companies, which may include the ones with higher market shares than theirs. "We can reach our goal by buying a few companies, not a single company. Our talks with t
hree domestic companies are ongoing," Demirağ said. Recalling that the number of current fuel stations has exceeded 700, Demirağ stressed that they aim to reach 800 companies by the end of 2018 as well as a total investment amount of $100 million with regards to the new station investments and station changes in early 2019. "In this respect, we will continue to bring together our customers with innovative services at more stations and add value to the Turkish economy with new employment opportunities," he concluded.
