TotalEnergies to pack its bags in Ethiopia

TotalEnergies has reportedly reached an agreement to sell its local service stations and is preparing to exit Ethiopia’s fuel retail market.

According to Africa Business, the French energy giant has reached an agreement with OLA Energy, formerly known as OiLibya, in a deal that involves the transfer of approximately 120 service stations.

TotalEnergies has maintained a presence in Ethiopia since 1950, developing one of the country’s most recognizable fuel retail brands. In addition to its network of service stations, the company operates a business-to-business segment supplying petroleum, petrochemical, and specialty products.

OLA Energy is already an established player in Ethiopia and across Africa. The company, which rebranded from OiLibya in 2018, operates a network of more than 1,300 service stations across the continent, alongside convenience stores and cafés.

Over the past two decades, it has expanded through a series of acquisitions, including former Shell and ExxonMobil retail operations in several African markets. The two companies have not officially confirmed the agreement

.Full story TotalEnergies to Exit Ethiopia’s Fuel Market After 76 Years – The Reporter Magazine