French oil company Total invests US$50 million to reach 30% of fuel distribution in Mozambique

Login

Register

http://www.clubofmozambique.com/

French oil company Total invests US$50 million to reach 30% of fuel distribution in Mozambique

7:59 CAT | 29 Jul 2016

The French supermajor oil company Total is expanding its fuel distribution and sales network in Mozambique with the goal of controlling thirty per cent of the market by the end of 2017. The company aims to achieve this through the investment of US$50 million dollars.

On Thursday, Total opened its forty-third service station in the country in the neighbourhood of Magoanine in Maputo city. Under the expansion programme, it will have sixty service stations by the end of next year.

The managing director of Total in Mozambique, Joseph Kouame, told journalists at the opening ceremony that the company’s expansion plans are ambitious. He added that the construction and management of the fuel stations will bring employment to Mozambicans.

Questioned about the effect of the country’s current economic crisis on his business, he replied “there will always be crises. What happens is that at some times sales are low whilst at other times they rise. We are in a dip but things will improve”.

Commenting on rumours that the country is about to run out of fuel, he stressed that the sole body authorised to import liquid fuels, Imopetro, had dismissed them as unfounded.

Maputo city’s director of industry and trade, Porfirio Reis, confirmed that there was no rupture in the fuel supply, nor was there even any forecast of such a shortage.

Reis stated that he is continuing to monitor the sale of fuel and gas. Hoverer, he added that he has received no major complaints due to the fact that the companies are using instruments certified by the National Institute for Standards and Quality (INNOQ).

Total has operated in Mozambique since 1991. In addition to its fuel stations, the company is exploring for oil and gas in the Rovuma Basin in the north of the country.

Source: AIM