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Thursday, December 31, 2015
Total signed a MoU with Angola’s Sonangol aimed at the French firm’s retail business. Total told Reuters that the MoU signed by chief executive Patrick Pouyanné paves the way to a network of Total-branded stations in Angola.
“In a first phase, products would be obtained through Sonangol,” said a Total spokesman.
The state-owned company said in a separate statement the agreement could represent an investment of hundreds of millions of dollars, with benefits both immediate and long term.
“This action, via a consolidated partnership between the two companies, embodies the government’s strategy to liberalize trade in the sector,” Sonangol said in the Reuters report.
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