The Libyan-based OLA Energy Group has officially announced the full acquisition of the Ethiopian assets of the French energy giant, Total Energies effectively ending the latter’s 76-year operational history in the country.
Under the terms of the agreement finalized in Paris, OLA Energy has assumed control of all fuel distribution and related assets previously held by Total Energies in Ethiopia.
This strategic move establishes OLA Energy as the largest foreign operator in the nation's retail fuel market. The deal, which brings to a close a legacy that began in the 1950s, includes the transfer of ownership of approximately 120 fuel stations across the country, as well as a critical 13,000-cubic-meter fuel and LPG storage terminal located in Dukem.
The signing ceremony in Paris was attended by high-level officials, including Libya’s Minister of Oil and Gas, Khalifa Abdulsadiq, TotalEnergies CEO Patrick Pouyanné, and OLA Energy Chairman Abuzed Suwailem.
While the transaction marks a significant shift in Ethiopia’s energy landscape, the financial details of the acquisition have not been publicly disclosed.
OLA Energy, which operates under the Libya Africa Investment Portfolio (LAIP), is a major energy player managing over 1,300 service stations across 17 African countries.
The company has maintained a consistent growth trajectory over the past two decades by acquiring retail networks previously managed by global energy leaders, including Shell and ExxonMobil.
The Libyan government has characterized this acquisition as a major strategic step to expand its economic influence across the continent and bolster national investment capacity, noting that the company reported a net profit of 34.5 million euros in the previous fiscal year.
Total Energies departure signifies the end of a long-standing corporate footprint in Ethiopia. Beyond its retail operations, the company played a pivotal role in supporting Ethiopian industries through its major storage facilities in Dukem.
Furthermore, the company was widely recognized for its social responsibility initiatives, including road safety campaigns and the Total Start upper of the Year" program, which supported local entrepreneurship.
This transition occurs as the Ethiopian government continues to implement broad reforms within the fuel distribution sector.
The Ethiopian Petroleum and Energy Authority is currently rolling out new regulatory frameworks and market share formulas designed to streamline supply chains, mitigate disruptions caused by regional geopolitical tensions, and curb illegal cross-border fuel smuggling.
Industry analysts are closely monitoring how this major change in ownership will impact the nation’s fuel supply security and market competitiveness.
