Mozambigue : Galp Energy Concludes Shell Business Acquisition
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Wednesday, 17 September 2008 |
Galp Energia has completed the acquisition of Shell fuel businesses in Mozambique.
Galp Energia said that, after the acquisition, the company's sales volume in Mozambique is around 90,000 cubic meters, corresponding to a market share of 14%. The Shell fuel businesses in Mozambique represents a petroleum product sales volume of around 20,000 cubic meters per year and includes seven service stations.
Together with the ongoing acquisitions of Shell fuel businesses in Swaziland and Gambia, this acquisition will allow a 45% increase on the volumes sold in petroelum downstream of Africa, raising geographical diversification in that continent, with market shares between 15% and 40%. Galp Energy has been developing its businesses in Swaziland, Cap-Verde,Guinea-Bissau,Gambia and Mozambigue.
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