Petrol Ofisi back in profit, OMV gains

ISTANBUL - Hürriyet Daily News

Petrol Ofisi has announced its consolidated net profits reached 793,000 Turkish Liras from a nearly 175 million liras loss in the same period last year, according to a statement made to the Istanbul bourse.

Turkish oil distributor Petrol Ofisi was acquired buy Austrian energy giant OMV nearly two years ago.

Petrol Ofisi has 2,285 dealer stations, 1 lubricant blending plant, 10 fuel and 3 LPG terminals, Marmara Ereğlisi terminal (joint venture) and 25 aviation supply units, according to a company statement.

Libya recovers

OMV said yesterday that recent net profits spanning nine months rose 21 percent as production in Libya reached levels last seen in early 2011 at the start of the uprising that toppled Moamer Khadafi, according to Agence France-Presse.

Helped also by a stronger dollar, net profit hit 1.0 billion Euros ($1.3 billion), up from 868 million euros in the previous year’s period, OMV said in a statement.