OMV, Ofisi given Turkey refinery go-ahead

29 June 2007 16:33  [Source: ICIS news]

PRAGUE (ICIS news)--Austria's OMV said on Friday that its joint application with Turkish fuel retailer Petrol Ofisi to build a refinery complex with possible petrochemicals facilities has now been accepted by Turkey's energy markets regulator.

 

The two companies reapplied to create the 15 million tonne/year facility in Ceyhan, southern Turkey, after the first application was turned down

 

The regulator had decided Petrol Ofisi could only take part in the refinery sector after establishing a separate refining subsidiary, using a different name to the one it uses for its fuel retail business.

 

An OMV spokesman said Petrol Ofisi had now complied with the ruling, adding that OMW was set to decide in the near future whether it would go ahead with the investment, which would cost $3bn (€2.2bn).

 

($1 = €0.74)

 

By: Will Conroy
+44 20 8652 3214

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