ADNOC acquires half of Total Energy fuel stations in Egypt ...Egypt

The Emirati ADNOC Distribution has completed procedures for acquiring half of the Total Energy fuel stations in Egypt, as part of its plan to expand regionally. ADNOC Distribution – the arm of the Abu Dhabi National Oil Company in fuel trading and distribution – announced on Wednesday, February 15, that it had concluded the acquisition deal with Totalenergies Marketing Afrique SAS to acquire a 50 percent stake in Total Energy Marketing Egypt. The deal, which was announced in July, is an important step in ADNOC’s plans to expand and open new markets, as part of the Emirati company’s ambitious strategy that focuses on fast-growing markets. The completion of the deal represents the first offici

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