Total has agreed to buy Chevron's Egyptian retail network.
The deal, for an undisclosed price, is a joint venture between the French oil major and Egyptian partners Beltone Capital and Beltone Private Equity (BPE) Energy. The acquistion comes after news in May this year that Chevron had acquired Shell's Egyptian retail assets.
Total said the Chevron network has annual sales of more than 1.4 million tonnes and includes 66 service stations, two oil depots and the aviation fuel operations at Cairo and Marsa Alam airports.
The Chevron and Shell deals will together raise the annual sales of Total's local subsidiary Total Egypt to more than 3 million tonnes through 218 service stations, giving the company a 14% share of the market. The service stations will also distribute lubricants provided by a blending plant owned jointly by Total Egypt and OilLibya.