Total has agreed to buy ExxonMobils lubricants and fuels business in 14 African countries for an undisclosed amount, the companies announced Monday. Total said the acquisition reflected its intent to expand on the continent.
The deal covers ExxonMobil affiliates that sell lubricants, motor fuels and aviation and marine petroleum products in Chad, Djibouti, Ethiopia, Eritrea, Ghana, Guinea, Liberia, Malawi, Mauritius, Mozambique, Sierra Leone, Togo, Zambia and Zimbabwe. Combined, the affiliates have a network of approximately 500 service stations and associated supply and distribution facilities.
According to the Houston Chronicle, the operations involved in the transaction sell 1.3 million tons of products annually. Totals existing African operations sold 12 million tons in 2004, the newspaper added. Total is based in Paris.
ExxonMobil remains a heavy player in Africa. The Houston-based energy giant said it still sells fuels and lubes in 30 of the continents nations and that sales for those operations are approximately four times as large as those that it sold. A spokesman said ExxonMobil sold the operations in question as a result of its ongoing process of evaluating assets.