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French energy company Total and Angolese state-run oil and gas company Sonangol have agreed to set up a joint venture (JV) to develop a common retail and distribution activity in Angola. The transaction is subject to the relevant competition authorities` review.
Partners will firstly focus on fuel distribution and lubricants sales on the business to customer (B2C) segment and will establish a network of service-stations under the Total brand. Sonangol will bring in 45 existing urban and highway service-stations. Total and Sonangol also plan to develop business to business (B2B) activities. Total will address both petroleum products logistics and supply (imports and storage) of refined products based on the outcome of the country`s ongoing downstream petroleum sector liberalisation process.
In January 2018, Sonangol submitted to the government a list of 54 affiliates that are ready to be privatised, accounting for one third of the companies it owns.