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Total to keep investing in Turkey

Total to keep investing in Turkey
French oil company Total grew 0.6 percent in Turkey in 2009, raising its overall market share to 7 percent amid the global turmoil, according to its managing director.

Total to keep investing in Turkey.

French oil company Total grew 0.6 percent in Turkey in 2009, raising its overall market share to 7 percent amid the global turmoil, according to its managing director.
Total Oil Managing Director Olivier Chalvon-Demersay also said the company is planning $100 million in new investments in 2010.

During a visit to Turkey"s southern province of Antalya to attend the opening ceremony of a new station, Chalvon-Demersay said the company attaches a particular importance to Turkey.

Noting that the firm invested $100 million in Turkey last year, he said: ?Total has operations in over 100 countries in Africa, Asia and Europe. Turkey is among the countries to which Total attaches the most importance.?

Chalvon-Demersay said Total, which began opening gas stations last year in Turkey, will continue doing so this year. ?Last year, we invested $100 million in the Turkish economy, mostly in the form of gas stations. The year 2010 will be tough for the fuel oil sector but Total will keep up its pace in investments. We will invest $100 million in Turkey this year, some 70 to 80 percent as gas stations and will provide employment for 1,000 more people this year.?

Turkey is in the process of overcoming the impact of the global downturn, he said. ?We trust the Turkish economy. We are about to overcome the impacts of the global crisis in the short run. We are optimistic in the fuel oil sector. In developed countries, the number of vehicles per 1,000 people is around 500-600, but this figure is around 100 in Turkey. The rise in the number of vehicles means a rise in fuel oil consumption.?

Snow affects sales

Asaf Sasao?lu, fuel director at Total Oil Turkey, said the sector started the year badly as fuel oil sales dropped 4 to 5 percent. Although the sector has contracted 20 percent since the beginning of the year, Total has lost a market share of only 5 to 6 percent in Turkey, Sasao?lu said. The contraction stems from winter conditions because snow affects fuel oil sales.
Noting that the sector has had a competitive market for a long time, Sasao?lu said Total has been focusing on using environmentally-conscious materials in its promotions.

In order to contribute the economy by supporting energy savings, Total introduced a promotion campaign with energy efficient lamps, Sasao?lu said, adding that the firm will also distribute non-battery electric lamps in the near future.

Source: http://www.hurriyetdailynews.com/n.php?n=total-too-keep-investing-in-turkey-2010-02-26

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