Petrol Ofisi

Petrol Ofisi A.Ş., abbreviated to PO, is a petroleum company from Turkey with a market value of 3.1 billion U.S. dollars. Managing Director is currently (as of 2007) Melih Türker.

The company was founded on 18 February 1941 as a state- owned enterprise to import crude oil to Turkey, to refine and sell petrochemical products within Turkey.

On July 24, 2000, Petrol Ofisi was privatized. 51 % of the company acquired the company Doğan Sirketler Grubu Holding, the parent company of Doğan Yayin Holding. On 13 March 2006 the Austrian company OMV acquired 34 % of the company Petrol Ofisi. This proportion increased its OMV on February 5, 2008 to 39.8 %. By the end of 2009, OMV increased its stake to 41.58 percent. A planned OMV full takeover was postponed in November 2009 due to a control method of 2 billion euros against the Dogan Group. In the second negotiation talks in October 2010, the two companies agreed to a takeover of 54.17 % of the Dogan Group by OMV for 1 billion euros. OMV holds already in 2013 97 % of the company, remainder is in free float.

PO has approximately 3,631 service stations in Turkey and a nationwide marketing network of its products. Its products include gasoline, diesel, heating fuels, kerosene, and other petrochemical products.

PO is the sponsor of sporting events like the races (including the Formula 1), Speed ​​boat racing, karting, mountain climbing on Mount Everest and for various Turkish sports teams ( football team ). PO was the main sponsor of the Formula One Grand Prix race from 2005 to 2008 in Turkey.