Saudi Aramco to acquire 30% of Turkey's Güzel Enerji and rebrand fuel stations

Saudi Arabia’s state oil giant Saudi Aramco is in advanced talks to purchase a 30 % stake in Güzel Enerji Akaryakıt AŞ, the Turkish fuel‑distribution company owned by the OYAK group. The partnership, expected to be finalised by the end of the year, would give Aramco a foothold in Turkey’s market of more than 1,000 service stations, which currently operate under the TotalEnergies, M Oil, Valvoline and Turkish Petrol brands. Industry sources say the deal could lead to a wholesale replacement of those brand signs with Aramco’s logo.

Güzel Enerji also runs a network of fuel and LPG storage facilities with a combined capacity of around 550 000 m³ and a mineral‑oil plant in İzmir. The talks are part of a broader energy‑cooperation push between Turkey and Saudi Arabia, which includes plans for two 1 GW solar power plants in Karaman and Sivas, to be built by Saudi investors and purchased by Turkey’s state electricity company at a tax‑free rate.

OYAK’s board chairman Uğur Doğan has confirmed ongoing commercial discussions with the Saudi firm, while the Saudi Crown Prince Mohammed bin Salman is reportedly backing the strategic alliance.