5th Sep 2005 14:31
Total S.A.05 September 2005 Total to buy ExxonMobil's Downstream Interests in 14 African Countries Paris - September 5, 2005 - Total has signed Sale and Purchase Agreements toacquire the shares in ExxonMobil companies operating fuels and lubricantsbusinesses in 14 African countries. The transaction remains subject to anynecessary approval of the relevant authorities in each country and until suchapproval is granted, the two companies will continue to operate as competitors. The agreement includes ExxonMobil's marketing motor fuels, lubricants, aviationand marine petroleum products in Chad, Djibouti, Ethiopia, Eritrea, Ghana,Guinea, Liberia, Malawi, Mauritius, Mozambique, Sierra Leone, Togo, Zambia andZimbabwe. This acquisition represents a network of around 500 service stationsand 29 terminals and depots. With a presence in more than 40 countries, Total's downstream activities inAfrica before this acquisition included an interest in seven refineries, anetwork of around 3,300 service stations, as well as petroleum products, such aslubricants, aviation fuel, liquefied petroleum gas (LPG). With this agreement,Total confirms its commitment to strengthen its presence and its growth strategyin Africa. * * * * * * Total is the fourth largest oil and gas company in the world with operations in more than 130 countries. Total's activities cover the whole energy chain of the petroleum industry: exploration, oil and gas production, refining and marketing, trading and power generation. The Group is also a major player in chemicals. Total has more than 111,000 employees worldwide. More information can be found on the company's website: www.total.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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