Total has signed Sale and Purchase Agreements to acquire the shares in ExxonMobil companies operating fuels and lubricants businesses in 14 African countries. The transaction remains subject to any necessary approval of the relevant authorities in each country and until such approval is granted, the two companies will continue to operate as competitors.
The agreement includes ExxonMobil’s marketing motor fuels, lubricants, aviation and marine petroleum products in Chad, Djibouti, Ethiopia, Eritrea, Ghana, Guinea, Liberia, Malawi, Mauritius, Mozambique, Sierra Leone, Togo, Zambia and Zimbabwe. This acquisition represents a network of around 500 service stations and 29 terminals and depots.
With a presence in more than 40 countries, Total’s downstream activities in Africa before this acquisition included an interest in seven refineries, a network of around 3,300 service stations, as well as petroleum products, such as lubricants, aviation fuel, liquefied petroleum gas (LPG). With this agreement, Total confirms its commitment to strengthen its presence and its growth strategy in Africa.
