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- Egypt’s population reaches 94 millionPosted 11 years ago
- Mugabe celebrates his 90thPosted 11 years ago
- Moroccan Monarch to Build a Perinatal Clinic in BamakoPosted 11 years ago
- King Mohammed VI handed a donation of bovine semen for the benefit of Malian breeders.Posted 11 years ago
- Moroccan King’s strategic tour to Africa: Strengthening the will of pan African Solidarity and stimulating the south-south cooperation mechanisms over the continentPosted 12 years ago
- Senior al-Qaida leader killed in AlgeriaPosted 12 years ago
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Southern Africa: BP sells its gas stations
The oil giant company British Petroleum (BP) has sold, for nearly 300 million US dollars, all its fuels marketing businesses in several southern African countries to Puma Energy, which is already involved in a number of strategic partnerships in the sub-Saharan downstream sector as a subsidiary of the Trafigura, a Swiss-based multinational.
BP has sold 100% of its assets relating to fuel distribution in Namibia and Botswana, 75% in Zambia, and 50% in Malawi and Tanzania. BP currently has 190 service stations in five countries. The transaction, valued at 296 million US dollars also concerns the distribution activities for aviation fuel. The British group said that the operation had been decided in March, before the explosion of its platform in the Gulf of Mexico, and the sale had not been dictated by the need for certain assets to meet the costs of the spill. BP’s decision to divest these businesses is based on a wider strategy to concentrate its activities in exploration and production. These sales are subject to different regulatory approvals as required by the competition authorities in the concerned countries.