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Mozambique: Government authorises transfer of BP fuel stations to TotalEnergies – Lusa
10:12 CAT | 08 Dec 2021
File photo: Lusa
Mozambique’s minister for mineral resources and energy, Max Tonela, authorised the transfer of rights over BP’s fuel station network in Mozambique to TotalEnergies, a source from the ministry told Lusa on Tuesday.
The source, who did not name the amounts involved, said that the deal would result in restructuring TotalEnergies’ capital, which would generate the payment of capital gains to the Mozambican state.
BP will remain in the aviation fuel, lubricants and fuel transit businesses.
Max Tonela’s decision covers the legal impediment to TotalEnergies holding more than 30% of the fuel market share in Mozambique. It will not close or reduce its activity by more than 30% in the next five years.
TotalEnergies and BP have a market share of 11.48% and 7.57%, respectively.
In Mozambique, TotalEnergies is a major shareholder in Area 1 of the Rovuma basin, in the province of Cabo Delgado, in the north of the country, where it intends to develop liquefied natural gas production.
Source: Lusa
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