CAR: TotalEnergies sells its assets to Tamoil

According to media sources, TotalEnergies is leaving the Central African Republic (CAR) by selling the assets of its local subsidiary to Tamoil, a Libyan company based in Europe. The French group is said to be justifying its departure on the grounds of “the fuel crisis and the business climate”, but does not confirm this version.

However, Total questions its priorities in CAR. Indeed, in October 2022, more than half of Total’s stations were shut down due to a lack of fuel. For the company, “sales have been at a loss for months”.

With the delays in the public subsidy, Total’s debt was estimated at several million euros. According to one of the group’s executives, this makes the Central African Republic “a drop in the bucket of TotalEnergies’ global turnover. The equivalent of a French motorway station. He concludes that “from an economic point of view, a departure would therefore be painless”.

Source: Africa News Agency