Phillips 66, a US parent company, has announced the sale of all 162 JET gas stations in Austria as part of their plan to divest from non-core assets. This decision includes the retail business in Germany as well. JET currently ranks fifth in gas station operations in Austria, behind ENI, BP, OMV, and Shell. The company has not provided information on the specific timing or selling price of the sale.
The move away from gas station operations in Germany and Austria allows Phillips 66 to focus on renewable fuels and become a global market leader in this area. However, they plan to remain active in Austria by establishing a network of hydrogen filling stations with H2 Energy Europe by 2026.
In related news, the Welser Doppler Group has undergone a realignment by selling their Turmöl fuel business to the state-owned Polish oil company Orlen. Additionally, the group has announced plans to produce synthetic truck diesel from hydrogen and CO₂ with the goal of becoming the market leader in liquid gas business in Austria by 2025 and expanding into neighboring countries.
The energy industry in Austria is undergoing significant changes as it shifts towards renewable fuels and sells traditional businesses such as JET gas stations. This transition reflects a global trend towards sustainability and innovation in the energy sector.