Energy: Portugal’s Galp acquires Shell assets in Mozambique, the Gambia and Swaziland

7 May 2008

Lisbon, Portugal, 7 May – Portuguese oil company Galp Energia has acquired the fuel distribution businesses of Royal Dutch Shell in Mozambique, Swaziland and the Gambia for US$55 million (35.6 million euros, the company said in a statement issued Tuesday in Lisbon.

The deal will increase Galp’s fuel distribution turnover by 45 percent and provide it with greater geographical diversity in Africa, with market shares that vary between 15 and 40 percent, the company said.

It will also develop Galp Energia’s businesses in the Mozambique-Swaziland axis and Cape Verde-Guine Bissau-Gambia axis and open up the way for future biofuel projects.

Galp Energia said that its regional focus in Africa also included a third área that would be carried out from Angola.

In Africa Galp Energia is currently involved in the fuel distribution business in Angola, cape Verde, Guinea Bissau and Mozambique. (macauhub)