Middle East Economic Survey

VOL. LI

No 31

04-Aug-2008

REGIONAL/TURKEY

Lukoil Buys Turkeys Akpet Retail Network

Russias Lukoilannounced on 28 July that it had purchased 100% of the equity of Turkish oil products retailer Akpet. Reports estimated the cost at $500mn. Lukoil President Vagit Alekperov said: The acquisition of large retail assets in Turkey expands Lukoils international retail network by 18%. It is one of the key elements of the companys downstream strategy in the Black Sea and...