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Sat, 19 Oct 2019 14:57 - Updated Sat, 19 Oct 2019 14:51

New fuel distribution company soon

Luanda - The Competition Regulating Authority (ARC) has given the green light to the Angolan National Fuel Society (Sonangol) and Total Oil Company to create a company to operate in the logistics, distribution and trading of oil products.

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Sonangol and Total set up fuel distribution company

Photo: Bráulio Pedro

The case, which has been under consideration by the Competition Regulatory Authority (ARC), which is assigned to the Ministry of Finance, provides that Sonangol and Total will also operate in the solar energy segment.

“Competition Regulatory Authority decides not to oppose the merger between Sonangol and Total by submitting commitments made by the notifiers,” reads the ARC document to which Angop had access on Friday.

With this concentration, the companies can make the joint investment through the formation of a limited company, destined to the development of the logistics, distribution and commercialization of products derived from liquid and gaseous hydrocarbons.

Tags Petrolíferas  

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