Mozambique: Petromoc to invest US$100 million in expanding its services

15 July 2008

Maputo, Mozambique, 15 July – Mozambican state oil company, Petromoc, plans to invest some US$100 million on expanding its fuel distribution network, the company’s chief executive said Monday in Maputo.

On announcing the decision, Casimiro Francisco said that this expansion was aimed at covering rural areas.

The fuel distribution network in soem rural áreas of Mozambique is considered to be insufficient to meet the needs of the population.

Some sector operators have said that they can only provide services in these areas if the market is considered worthwhile.

Petromoc is the Mozambican market leader in fuel distribution and has a share of 35 percent.

BP, Total, Shell, Engen and Portugal’s Galp Energia and others also operate in the Mozambican fuel distribution market. (macauhub)