Energy, EU – Baltic States, Latvia, Legislation, Transport

“In addition to that, our newest fuel station in Tinuzi opened in June with the Circle K design. We are planning to complete the transformation of the remaining 40 Statoil stations by the end of October,” the fuel company’s representatives said, adding that so far the re-branding has been going as planned.

As reported, Circle K Latvia plans to re-brand all the remaining Statoil fuel stations to Circle K stations by this fall. The switch to the Circle K brand is also under way in Lithuania, Estonia and Poland. The company, however, will not re-brand its fuel stations in n Norway, Denmark and Sweden.

Circle K Latvia, however, did not reveal the size of investments made in the re-branding.

Circle K is the largest fuel retailer in Latvia and it belongs to Norway's Circle K Norge.

As reported, during the last financial year, from May 1 2015 to April 30, 2016, Circle K Latvia generated EUR 358.177 million euros in turnover, which is by nine% less than a year ago, while the company’s profit rose 13.8% to EUR 21.571 million.