The Libyan energy group “Oyla,” part of the Libyan Investment Portfolio in Africa, announced the signing of an acquisition agreement with the French company “TotalEnergies” to acquire its assets in Ethiopia. This move strengthens the Libyan investment presence in African markets and expands the group’s scope in the fuel distribution sector on the continent.
The signing ceremony took place in Paris, attended by the Minister of Oil and Gas of the Government of National Unity, Khalifa Abdulsadek; the Chargé d’Affaires of the Libyan Embassy in France, Mohamed Hammouda; the CEO of TotalEnergies, Patrick Pouyanné; the Chairman of the Board of Directors of Oyla Group, Abu Zaid Sweilih; along with senior officials and representatives from both sides.
The acquisition includes approximately 120 fuel stations, a fuel storage depot with a capacity of 13,000 cubic meters, and the associated operational and commercial activities, making Oyla Group the largest foreign company in the fuel distribution market in Ethiopia.
This acquisition comes as part of efforts to expand the Libyan economic presence in Africa, enhance foreign investments of Libyan national companies, support regional economic partnerships, and create new opportunities for cooperation and investment.
Paris
Paris, the capital of France, is known for iconic landmarks such as the Eiffel Tower and the Louvre Museum. The city has a rich history, from its founding in antiquity to its central role in the French Revolution and European cultural development. Today, Paris remains a global symbol of art, fashion, and gastronomy.
Ethiopia
Ethiopia, historically known as Abyssinia, is one of the oldest countries in the world, with a rich cultural and religious heritage. It was the only African nation that was never fully colonized, successfully defeating Italian forces at the Battle of Adwa in 1896. The country is famous for its rock-hewn churches in Lalibela and for being the origin of coffee.
France
France is a country with a rich cultural and political history, known for iconic landmarks such as the Eiffel Tower and Notre-Dame Cathedral. It was the site of the French Revolution (1789), a major event that influenced modern democracy. France is also renowned for its art, gastronomy, and world-class museums, such as the Louvre.
Africa
Africa is a vast and diverse continent, with a rich history that includes the emergence of the earliest human civilizations, such as Ancient Egypt. It was marked by the transatlantic slave trade and European colonization but also experienced strong independence movements in the 20th century. Today, Africa is a cultural and natural mosaic, from the Sahara Desert to tropical forests and modern cities.
