The Romanian Competition Council approved a deal to grant SOCAR Petroleum SA Romania (the Romanian subsidiary of SOCAR) the right to operate 5 petrol stations operated by IPECO S.A.
According to the agency, the stations will be operated by SOCAR Petroleum S.A. based on long term leases.
“The analysis conducted by the Competition Council found that this operation does not create significant obstacles to effective competition in the Romanian fuel market or its part and there are no serious doubts about its compatibility with a normal competitive environment,” the antitrust authority notes.
The amount of the transaction is not reported.
In April 2020, the Romanian Competition Council approved a deal, according to which SOCAR Petroleum SA received the right to lease for 10 years 6 petrol stations operated by Aral MTB in the districts of Arad, Timis and Sibiu.
Currently, gas stations under the SOCAR brand operate 53 gas stations in 20 regions of Romania. SOCAR plans to expand the network of gas stations in Romania to 60 points.SOCAR began its activity in the market for the retail sale of petroleum products in Romania since 2011.