Saudi Aramco lands in Istanbul as talks to acquire 49% stake in Turkish fuel distributor advance

Saudi Aramco flew from King Fahd International Airport in Dammam to Istanbul on June 17, a six-hour, 36-minute flight aboard its Boeing 737-8AL, tail number N801XA, arriving just after 1:00 p.m. local time. The trip comes the same week the world’s largest oil exporter is reportedly in advanced talks to acquire a 49 percent stake in GüzelEnerji, the Turkish fuel distribution company that operates TotalEnergies, M Oil, and Türk Petrol brands, per a report from the Turkish news outlet Haberler. OYAK Energy Chairman Uğur Doğan has publicly confirmed the negotiations with Saudi Aramco, though he has stated that a sale of the entire company is not on the table.

Istanbul is a recurring destination for Saudi Aramco’s corporate fleet, and the timing aligns with the company’s broader effort to expand downstream in high-growth markets. The visit follows a pattern of recent flights that have moved executives between Dammam and other domestic energy hubs, including Abqaiq and Khurais, where the company operates major oil and gas facilities. Saudi Aramco’s Mukamalah aviation division manages the flight operations, and the Istanbul trip appears tied directly to the partnership talks rather than to routine business.

The Istanbul visit also coincides with Saudi Aramco’s ongoing investor roadshow, which has made stops in Singapore, Hong Kong, Tokyo, and Seoul this month, per Meta Currents. While the roadshow has focused on upstream capital discipline and dividend commitments, the Istanbul flight signals that downstream deal-making remains a parallel priority for the company, even as it reviews upstream spending. The outcome of the GüzelEnerji negotiations could be announced in the coming days.