Saudi Aramco in Talks for 30% of Turkish Fuel Retailer Guzel Enerji, Alongside 2,000 MW Solar Plan

Saudi Aramco is negotiating a 30% stake in Guzel Enerji, the fuel distribution arm of Turkish group OYAK that runs more than 1,000 service stations in Turkey, with both sides aiming to close the share transfer and strategic partnership before the end of the year, according to the ANKA news agency.

If the deal completes, TotalEnergies signage would come down across more than 1,000 stations in Turkey and be replaced by the Aramco brand. Sources cited by ANKA put it more cautiously: TotalEnergies could go from the forecourt signs, and the Aramco brand could arrive.

Guzel Enerji controls the TotalEnergies, M Oil, Valvoline and Turk Petrol brands in Turkey. The businesses sit under OYAK Enerji. OYAK acquired Guzel Enerji in 2020, buying the TOTAL Oil Turkiye and M Oil distribution companies then held by Demiroren Holding, together with their autogas stations.

The retail network ranked fourth among Turkish fuel distributors by sales and market share in diesel and gasoline in the March 2026 report of the Energy Market Regulatory Authority (EPDK), Turkey's energy regulator.

The asset base extends beyond forecourts. Guzel Enerji holds fuel and liquefied petroleum gas installations with combined capacity of 550,000 cubic metres at Gebze, Aliaga, Tekirdag Marmara Ereglisi, Ankara, Yarimca and Samsun, plus a mineral oils plant at Cigli in Izmir province.

Running in parallel is a generation commitment. Saudi Arabia plans to invest in two solar plants of 1,000 MW each in the Turkish provinces of Karaman and Sivas, for a total of 2,000 MW.

The offtake structure is the load-bearing part. Elektrik Uretim AS (EUAS), the Turkish state power generator, will buy the output of those plants for 30 years on a euro-and-euro-cent basis. A hard-currency, three-decade purchase obligation shifts price and currency risk off the developer and onto the state buyer.

The fiscal terms match. The investment will be exempt from customs duty, value added tax and the special consumption tax, along with every other tax, levy, fee, fund and financial obligation applied at import. Turkey will handle all procedures on the land where the plants will be built and lease it ready for use to the Saudi company making the investment.

Ugur Dogan, chairman of the board of OYAK's energy companies, told ANKA earlier that talks with Aramco covered partnership, cooperation and commercial matters, and had said negotiations on partnership and share transfer were continuing. OYAK is holding discussions with Saudi Aramco on cooperation in the fuels sector.

For a global readership tracking where national oil company capital lands, the shape of this package is the point. A state producer is not buying a barrel of reserves or a refinery; it is buying shelf space at more than 1,000 forecourts, storage of 550,000 cubic metres, and a 30-year euro-denominated power contract with a state utility. The downstream stake secures demand for refined product. The solar leg secures an indexed cashflow in hard currency, under an import regime stripped of duty, VAT and special consumption tax.

The branding consequence is the visible one. TotalEnergies has been the retail face of this network since OYAK's 2020 purchase of TOTAL Oil Turkiye. Replacing it with Aramco across a fourth-ranked distributor in diesel and gasoline per the EPDK March 2026 report would put a Gulf national oil company brand directly in front of Turkish motorists, in a market where the same group also holds the M Oil, Valvoline and Turk Petrol names.

The reported timetable is the near-term test: the 30% share transfer and strategic partnership are targeted for completion before year end. The article carrying the solar and retail details was published on July 31, 2026 at 11:29 and updated the same day at 15:21, by journalist Tunahan Turkoglu; a separate account of the OYAK-Aramco talks was filed by Ahmet Yilmaz on July 31, 2026 at 07:55 on KuvayiMedya.