Aramco explores stake in Türkiye fuel distributor GuzelEnerji
Talks with OYAK signal potential entry into one of the country’s largest fuel retail networks.
Saudi Aramco is in discussions with Turkish conglomerate OYAK over a potential stake in its fuel distribution subsidiary, GuzelEnerji, as part of broader cooperation in the energy sector. The talks could mark a renewed attempt by the Saudi oil company to expand its presence in Türkiye’s downstream fuel market.
GuzelEnerji operates one of the country’s largest fuel distribution networks, managing more than 1,000 service stations under the TotalEnergies brand and holding an estimated 8% market share. The company also controls six fuel and LPG storage facilities across key regions, along with a lubricants plant in Izmir.
OYAK Energy Companies Chairman Ugur Dogan confirmed that partnership options are being explored, stating that a structure involving GuzelEnerji is under consideration. He clarified that a full sale or transfer of the business is not currently planned.
Aramco’s interest aligns with its previous efforts to enter Türkiye’s fuel retail sector. The company was among the bidders for Petrol Ofisi, the country’s largest fuel station operator, during its sale process in 2017 but did not secure the asset.
For OYAK, the potential partnership could provide access to international expertise and capital, while Aramco would gain a foothold in a major fuel distribution network.
