The aviation fuel services division of BP is launching a new joint venture with a Polish oil firm to manage the supply and marketing of aviation fuel in Poland.
Called Lotos-Air BP Polska, the agreement is subject to approval from European competition authorities and will be formed by Air BP purchasing 50% of Lotos Tank – the aviation subsidiary of Grupa Lotos.
David Gilmour, Air BP Chief Executive said: “We are always looking for new opportunities to grow the Air BP business. Poland is the country with the fastest growing aviation fuel sales in Europe and we have found a strong, local partner in Lotos. As always our top priority is going to be managing safe and reliable operations. We will share our technical knowledge to assist the joint venture to operate to industry standards and ensure that everyone who works at the airport locations stays safe.”
The deal is expected to be completed in the next six to eight weeks.
Since 1991, BP – which is among the 15 biggest companies in Poland – has invested almost $1 billion (£0.65bn) in the country. It entered the aviation fuel business in the mid-20s and currently fuels more than 8,700 flights every day.
Earlier this year a London airport bought an on-site fuel facility from oil giant BP.