BP's aviation fuel services unit, Air BP, is launching a new joint venture with Polish oil company Grupa Lotos to manage the supply and marketing of aviation fuel in Poland.
The joint venture, Lotos-Air BP Polska, is subject to approval from European competition authorities, and will be formed by Air BP purchasing 50 percent of Lotos Tank--the aviation subsidiary of Grupa Lotos.
Air BP is looking to use the new joint venture to grow its presence within Poland's aviation fuel market, which has the "fastest growing aviation fuel sales in Europe," says Air BP Chief Executive David Gilmour.
Currently, Lotos holds a one third share of the Polish fuel market, BP said.
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