French “TotalEnergies” sells share in 800 gas stations in Pakistan
“TotalEnergies” has signed an agreement with Swiss trader Gunvor Group on the sale of a 50 percent share in a joint venture that owns 800 gas stations in Pakistan, the French company said.
For example, a share in Total PARCO Pakistan Limited (TPPL) is being sold, where the second participant is PARCO (60% is owned by the government of Pakistan and 40% is owned by the Abu Dhabi sovereign wealth fund Mubadala Investment Company).
The deal reflects the company's selective retail business strategy focused on key regions, growth opportunities and energy transition, “TotalEnergies” noted.
TPPL owns a network of more than 800 gas stations. The new joint venture will continue to operate under the Total Parco brand for 5 years. The deal must be approved by the authorities.
Energy
-
In January-July of this year, the State Oil Fund of Azerbaijan (SOFAZ) received income in the amount of 364 million 465 thousand dollars from the development of the “Shah Deniz” field located in the Azerbaijani sector of the Caspian Sea. This is by 776 million 535 thousand dollars, or 68% less than the figure for the same period in 2023, SOFAZ data.
-
By the end of January-May 2024, Italy imported 2.4 bcm of gas from Azerbaijan in the amount of 1.35 billion euros. According to the statistical office of the European Union - Eurostat, in the first five months of last year Italy imported Azerbaijani gas in the amount of 2.2 bcm worth 2.6 billion euros.
-
The State Oil Company of Azerbaijan (SOCAR) has joined the Partnership on Oil and Gas Methane (OGMP 2.0).
-
Yesterday, Azerbaijan, Kazakhstan and Uzbekistan signed a protocol following the results of a trilateral meeting on the project of connecting energy systems, which took place in Astana.
Leave a review