Angolan state oil and fuel company Sonangol and the Total group have started marketing activities for oil products following the approval of the deal by the Regulatory Competition Authority (ARC), according to a statement from the French group.
This new stage, which began on 21 December 2018, follows approval, as required by the ARC, of the incorporation of Total Joint Marketing & Services Angola, SA, held in equal shares by the Sonangol and Total groups.
This development will initially result in the distribution of fuels and lubricants and their sale to companies and individuals, through a network of filling stations under the “Total” brand, the first of which was inaugurated in Luanda, in December 2018.
Sonangol offers the joint venture 45 existing filling stations, located in urban areas along the main roads in 10 coastal provinces and the centre of the country and the French group contributes with the financial resources necessary to meet the objectives of the partners, who plan to double the number of filling stations within five years and develop the sale of lubricants.
Total has been present in Angola since 1953, where it employs approximately 1,500 workers in several business areas: exploration, production, gas, renewables, marketing and services, as well as trade and shipping. (macauhub)