Libyan Energy Company Acquires Totalenergies' Assets In Ethiopia
TRIPOLI, July 1 (Bernama-Xinhua) -- Libya's OLA Energy Holdings Ltd. has signed an agreement to acquire the assets of TotalEnergies in Ethiopia, according to a statement issued Tuesday by the Tripoli-based Government of National Unity on its official platform, reported Xinhua.
Under the agreement, OLA Energy will acquire about 120 fuel service stations, a fuel storage depot with a capacity of 13,000 cubic metres, as well as related operational and commercial activities.
According to the statement, the deal is part of the company's strategy to expand its presence in African markets and foster broader economic cooperation across the continent.
OLA Energy Holdings Ltd, formerly known as Oil Libya Holdings Ltd, is a pan-African energy company owned by Libyan investment institutions.
--NNN-BERNAMA-XINHUA
Latest News
- No Williams Or Pino, But Yamal's Fitness A Boost For Spain Ahead Of Austria Clash
- Malaysia Remains Largest Source Of Foreign Tourists To Indonesia In May
- CPO Futures Rebound On Indonesia's B50 Biodiesel Programme Rollout
- 1MDB Lawsuit Against Standard Chartered To Proceed To Trial In Singapore
- Belgian DPM To Visit Malaysia For Discussions On Renewable Energy Cooperation