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Lukoil allocates about $1 billion to increase share on Turkish market

Staff Writer |
Lukoil allocated about $1 billion of investments to increase its share on the retail fuel market of Turkey but does not plan to expand operations in the country in coming 3-4 years.

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Senior vice president of the company Vadim Vorobyov said in an interview with the Anadolu Agency.

The Turkish oil products market is of strategic significance for the company, the top manager said. Lukoil currently holds 5-6% of the retail fuel market of Turkey, Vorobyov said.

"Our company is exploring opportunities to expand the participation share on the Turkish market," the agency cited Vorobyov.

"We discussed the issue of purchasing assets of third party companies on the Turkish market with representatives of the State Oil Company of the Azerbaijan Republic (SOCAR).

"No specific decision has been made yet on this matter," he said.

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