Bloomberg News

Socar Denies Report of Plans to Buy BP’s Turkish Gas Stations

May 25, 2012

State Oil Co. of Azerbaijan denied a report that it’s in talks with BP Plc (BP/) to buy the U.K. energy producer’s chain of filling stations in Turkey.

Haberturk newspaper said on May 23 that Socar, as the Azeri company is known, is nearing an agreement to buy BP’s network of 599 gasoline stations in the country.

“Socar is not preparing to buy petrol stations in Turkey,” Rovnaq Abdullayev, the company’s president, told reporters in Baku yesterday. Socar may consider retailing oil products there after its refinery in the Izmir region starts production in 2014, he said.

To contact the reporter on this story: Zulfugar Agayev in Baku at zagayev@bloomberg.net

To contact the editor responsible for this story: Hellmuth Tromm at htromm@bloomberg.net


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