Phillips 66, a US-based parent company, has announced the sale of all 162 JET gas stations in Austria. This decision is part of their plan to divest from non-core assets, including their retail business in Germany. The company currently operates as the fifth largest gas station operator in Austria, following ENI, BP, OMV, and Shell.
JET’s sale marks a significant shift away from traditional gas station operations for Phillips 66. Instead, the company is focusing on renewable fuels and aims to become a global market leader in this area. This move reflects a growing trend towards sustainability and innovation in the energy sector.
In addition to JET’s sale, the Welser Doppler Group has undergone a realignment by selling their Turmöl fuel business to the state-owned Polish oil company Orlen. The group also announced plans to produce synthetic truck diesel from hydrogen and CO₂, aiming to become the market leader in the liquid gas business in Austria by 2025 and expand into neighboring countries.
The energy industry in Austria is undergoing significant changes as companies adapt to the shift towards renewable fuels and move away from traditional gas station businesses like JET. This transition reflects a global trend towards sustainability and innovation in the energy sector.
Phillips 66 aims to focus on renewable fuels and become a global market leader in this area by divesting from their gas station operations in Germany and Austria. However, they are not expected to completely withdraw from Austria as they plan to establish a network of hydrogen filling stations in collaboration with H2 Energy Europe by 2026.
The Welser Doppler Group has also undergone a realignment by selling their Turmöl fuel business to Orlen and announcing plans to produce synthetic truck diesel from hydrogen and CO₂. They aim to become the market leader in the liquid gas business in Austria by 2025 and expand into neighboring countries.
Overall, these changes reflect a growing trend towards sustainability and innovation in the energy sector as companies adapt to meet changing consumer demands for cleaner fuels.
