Rosneft to boost positions in the Turkish oil products market
Rosneft, Petrocas Energy and Demiroren Group signed within the World Energy Congress Heads of Terms on cooperation and the supply of petroleum products to Turkish market, Rosneft says in a press release.
The document envisages cooperation in exploring capabilities of Rosneft through partnership in Petrocas to supply up to 1 mln tons of oil Products to Demiroren Group in Turkey by utilising South Caucasus transit corridor and Black Sea ports of Russia and Georgia.
The implementation of heads of terms will allow Rosneft, Petrocas Energy, which is 49% owned by Rosneft, and Demiroren Group to strengthen their position in the market of petroleum products in Turkey, one of the leaders in the region in terms of GDP growth (according to the IMF forecast for 2016, it will increase by 3.8%) and a net importer of petroleum products. The domestic petroleum product market of the republic has a high growth potential which opens up broad prospects to increase Rosneft supplies.
In December 2014, Rosneft acquired 49% stake in Petrocas Energy, which owns and operates oil products terminal in Poti, Georgia and is specialized in transportation, retail distribution and international trading of oil products.
Demiroren Group is a diversified group of companies with leading positions in number of sectors in Turkey. Demiroren owns and operates 1100 retail fuel and gas stations under the bands of Total, Moil and Milangaz, multiple refined oil products terminal facilities in Turkey.
Rosneft provides a wingtip refueling for Turkish Airlines and Pegasus Airlines in the airports of Moscow (Vnukovo), Yekaterinburg (Koltsovo), Sochi, Krasnodar, Rostov-on-Don and Stavropol. In 2015, refueling was also provided for FreeBird Airlines and Upjet Travel Group.