Sonangol, Total agree on joint distribution of oil by-products in Angola

Luanda – Angolan state oil firm Sonangol and the French TOTAL E and P have finalized the agreement for the joint distribution and sale of crude-oil by-products.

This will initially involve the distribution of fuels and the sale of lubricants to companies and individuals at the TOTAL petrol stations, ANGOP has learnt.

The current stage is followed by the receipt of the approval required by the competition authorities for the incorporation of the partitioned capital of the joint venture dubbed Total Marketing and Services Angola SA company, held in equal shares by Sonangol and Total.

According to the agreement, Sonangol will male abvailable 45 petrol stations located in urban areas in 10 coastal provinces, while Total will contribute with the necessary financial resources to achieve the partnership’s objectives, including doubling the number of petrol stations over a five-year period and developing business-oriented activities and the sale of lubricants.

Source: Angola Press News Agency