TTE News & Events

OLA Energy Group announces the signing of a share purchase agreement, or SPA, with TotalEnergies to acquire TotalEnergies' downstream activities in Ethiopia, subject to the satisfaction of customary conditions precedent, including the required regulatory and administrative approvals from the competent authorities in Ethiopia. The signing took place at TotalEnergies' headquarters in Paris, in the presence of senior representatives from OLA Energy and TotalEnergies. The transaction covers TotalEnergies Marketing Ethiopia's full downstream operations, a network of more than 120 service stations strategically located across major cities including Addis Ababa, Dire Dawa and Mek'ele, serving retail, B2B, aviation and lubricant customers. The network includes 10 storage assets, world-class logistics infrastructure, and digital payment solutions already in operation. Beyond fuel, the acquired network operates non-fuel services including convenience stores, car wash facilities, lubricant bays, and aviation fuel supply at Bole International Airport in Addis Ababa.

TotalEnergies announced the divestment to Inpex of its 85% interest in Block 2E offshore Malaysia, representing a net interest of 8.5% in the Marjoram gas field currently under development, for a consideration of $350M. Through this transaction, TotalEnergies crystallizes the full value of this minority interest in a non-operated gas project, to focus on its operated portfolio and strategic growth opportunities in Malaysia.