Petrol Ofisi
Encyclopedia
OMV Petrol Ofisi A.Ş. is Turkey's leading fuel products distribution and lubricants company.
It was established on February 18, 1941 as a state owned company to import, stock, refine and distribute petroleum products. On July 24, 2000, the company was privatized, and initially 51% of the shares were purchased by Doğan Holding
. On March 13, 2006, the Austria
n petroleum company OMV
bought 34% of the stake for US$1.054 billion. After this stock exchange, the share of Doğan Group decreased from 86.7% to 52.7%. On October 22, 2010 OMV
announced that it will buy 54.17 % shares from the Doğan Holding
for the sum of EUR 1 Billion, setting its total stake in the company to 95.75 %. The transaction remained subject to approval by relevant authorities until December 22, 2010 when it was completed.
Having become a joint stock company in 1983 and privatized in 2000, Petrol Ofisi today continues its activities with its 2,500 fuel stations, 10 fuel terminals, 2 LPG terminals, 31 air-supply units, 1 lubricant oil plant, 1,200 employees and widespread marketing network. Its product range covers unleaded gasoline, Diesel fuel, kerosene
, fuel oil, jet fuel, liquified petroleum gas
(LPG), lubricant
s and various industrial oils.
PO sponsors sports like car racing (GP2
), rallying, offshore speedboat racing, karting and mountaineering
of Mt. Everest for Turkish sportspeople. Since 2006, PO has also been the title sponsor of the Formula One
"Petrol Ofisi Turkish Grand Prix
".
It was established on February 18, 1941 as a state owned company to import, stock, refine and distribute petroleum products. On July 24, 2000, the company was privatized, and initially 51% of the shares were purchased by Doğan Holding
Dogan Holding
Doğan Holding is one of the top industrial conglomerates in Turkey operating in the energy, media, industry, trade, insurance and tourism industries...
. On March 13, 2006, the Austria
Austria
Austria , officially the Republic of Austria , is a landlocked country of roughly 8.4 million people in Central Europe. It is bordered by the Czech Republic and Germany to the north, Slovakia and Hungary to the east, Slovenia and Italy to the south, and Switzerland and Liechtenstein to the...
n petroleum company OMV
OMV
OMV is Austria's largest oil-producing, refining and gas station operating company with important activities in other Central European countries...
bought 34% of the stake for US$1.054 billion. After this stock exchange, the share of Doğan Group decreased from 86.7% to 52.7%. On October 22, 2010 OMV
OMV
OMV is Austria's largest oil-producing, refining and gas station operating company with important activities in other Central European countries...
announced that it will buy 54.17 % shares from the Doğan Holding
Dogan Holding
Doğan Holding is one of the top industrial conglomerates in Turkey operating in the energy, media, industry, trade, insurance and tourism industries...
for the sum of EUR 1 Billion, setting its total stake in the company to 95.75 %. The transaction remained subject to approval by relevant authorities until December 22, 2010 when it was completed.
Having become a joint stock company in 1983 and privatized in 2000, Petrol Ofisi today continues its activities with its 2,500 fuel stations, 10 fuel terminals, 2 LPG terminals, 31 air-supply units, 1 lubricant oil plant, 1,200 employees and widespread marketing network. Its product range covers unleaded gasoline, Diesel fuel, kerosene
Kerosene
Kerosene, sometimes spelled kerosine in scientific and industrial usage, also known as paraffin or paraffin oil in the United Kingdom, Hong Kong, Ireland and South Africa, is a combustible hydrocarbon liquid. The name is derived from Greek keros...
, fuel oil, jet fuel, liquified petroleum gas
Liquified petroleum gas
Liquefied petroleum gas is a flammable mixture of hydrocarbon gases used as a fuel in heating appliances and vehicles. It is increasingly used as an aerosol propellant and a refrigerant, replacing chlorofluorocarbons in an effort to reduce damage to the ozone layer...
(LPG), lubricant
Lubricant
A lubricant is a substance introduced to reduce friction between moving surfaces. It may also have the function of transporting foreign particles and of distributing heat...
s and various industrial oils.
PO sponsors sports like car racing (GP2
GP2 Series
The GP2 Series, GP2 for short, is a form of open wheel motor racing introduced in 2005 following the discontinuation of the long-term Formula One feeder series, Formula 3000. The format was conceived by Bernie Ecclestone and Flavio Briatore, while Ecclestone also has the rights to the name GP1...
), rallying, offshore speedboat racing, karting and mountaineering
Mountaineering
Mountaineering or mountain climbing is the sport, hobby or profession of hiking, skiing, and climbing mountains. While mountaineering began as attempts to reach the highest point of unclimbed mountains it has branched into specialisations that address different aspects of the mountain and consists...
of Mt. Everest for Turkish sportspeople. Since 2006, PO has also been the title sponsor of the Formula One
Formula One
Formula One, also known as Formula 1 or F1 and referred to officially as the FIA Formula One World Championship, is the highest class of single seater auto racing sanctioned by the Fédération Internationale de l'Automobile . The "formula" designation in the name refers to a set of rules with which...
"Petrol Ofisi Turkish Grand Prix
Turkish Grand Prix
The Turkish Grand Prix is a Formula One motor race that was first held on August 21, 2005 as part of the 2005 Formula One season. It is held at the newly built Istanbul Park Circuit, constructed by famous German civil engineer Hermann Tilke...
".