TotalEnergies exits Ethiopia as OLA Energy acquires assets, confirmed

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TotalEnergies is exiting the Ethiopian market by selling its downstream assets, including fuel stations and a storage depot, to Libya's OLA Energy. The deal was confirmed in a ceremony attended by key industry figures from both companies and governments.

French energy giant TotalEnergies is exiting the Ethiopian market after agreeing to sell its downstream assets to Libya’s OLA Energy Holdings Ltd., according to the Tripoli-based Government of National Unity, confirming reports that had emerged in recent days. The signing ceremony, held on June 30 at TotalEnergies’ headquarters in Paris, was attended by Libya’s Oil and Gas Minister Khalifa Abdulsadiq and TotalEnergies Chief Executive Patrick Pouyanné, according to reports. Under the agreement, OLA Energy will acquire about 120 fuel service stations, a fuel storage depot with a capacity of 13,000 cubic metres, as well as related operational and commercial activities.… The post TotalEnergies exits Ethiopia as OLA Energy acquires assets, confirmed appeared first on Ethiopia Observer.