bursa escort ankara escort adana escort manavgat escort eskişehir escort malatya escort diyarbakır escort urfa escort şişli escort avcılar escort sarıyer escort şişli escort mecidiyeköy escort beşiktaş escort pendik escort maltepe escort ataşehir escort kadıköy escort çeşme escort konya escort beylikdüzü escort esenyurt escort ankara escort mezitli escort manavgat escort konya escort antalya escort diyarbakır escort esenyurt escort

TotalEnergies acquires BP’s assets in Mozambique to become a leading player in fuel distribution

MOZAMBIQUE – TotalEnergies is expanding in Mozambique with the acquisition of BP’s retail network, wholesale fuel business and logistics assets.

The transaction covers a network of 26 service stations, a portfolio of business customers and 50% in SAMCOL, the logistics company previously jointly owned by TotalEnergies and BP, which operates the Matola, Beira and Nacala fuel import terminals.

These assets are complementary to TotalEnergies’ existing network of 57 service stations and current B2B business.

With this acquisition, TotalEnergies strengthens its position as the leading retailer of petroleum products in the country.

During his visit to Mozambique, Patrick Pouyanné, Chairman and CEO of TotalEnergies, inaugurated the new network’s first service station to fly the TotalEnergies colors.

The solarized service station ‘24 de Julho’, is located in Maputo and has both a Bonjour café and store. TotalEnergies now has 19 solarized service stations in Mozambique.

“This agreement reflects TotalEnergies’ willingness to pursue its investments in Mozambique’s energy sector in order to deploy our multi-energy strategy in the country through retailing of petroleum products for mobility, the major Mozambique LNG project and accompanying supply of domestic gas, and opportunities under review in the area of renewable energies,” said Patrick Pouyanné, Chairman and Chief Executive Officer of TotalEnergies.

“Our ambition with all this is to contribute to the country’s sustainable development and give access to energy to as many people as possible.”

Present in Mozambique since 1991, the Company operates in the Exploration & Production and Marketing & Services segments.

TotalEnergies Marketing Moҫambique SA is a major player in the downstream petroleum products market with a nationwide gas stations network, industrial and mining customers, lubricants and logistics.

Prior to this acquisition, TotalEnergies Marketing Moҫambique had an estimated market share of 14 %.

TotalEnergies EP Mozambique Area 1 Limitada, a wholly owned subsidiary of TotalEnergies, operates Mozambique LNG with a 26.5% participating interest

TotalEnergies CEO Patrick Pouyanne also added that the French firm is aimed to restart the US$20 billion liquefied natural gas (LNG) project in the north of Mozambique that was halted by an insurgent group with links to Islamic State almost a year ago.

The attack on the town of Palma, on the doorstep of the project and home to many gas workers, prompted TotalEnergies to withdraw all staff and declare force majeure, putting a halt to all works until security was restored.

The March 2021 attack prompted Mozambique to accept foreign troops from Rwanda and a bloc of southern African nations to help quell the insurgency, which had escalated across the southern African country’s northernmost province of Cabo Delgado.

While these measures have helped Mozambique regain lost ground, clashes with insurgents and smaller attacks continue.

TotalEnergies had intended for the project to produce its first cargo in 2024.

Liked this article? Subscribe to DealStreet Africa News, our regular email newsletter with the latest news, deals, and insights from Africa’s business, economy, and more. SUBSCRIBE HERE

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.