The Libyan OLA Energy Group has finalized its acquisition of TotalEnergies' Ethiopian operations. The deal covers nearly 120 fuel stations and a 13,000-cubic-meter storage terminal.
The agreement was signed in Paris on June 30, 2026. It transfers ownership of the assets and ends TotalEnergies' 76-year presence in Ethiopia.
Libya's Minister of Oil and Gas Khalifa Abdulsadiq and TotalEnergies CEO Patrick Pouyanné attended the ceremony. OLA Energy is fully owned by the Libya Africa Investment Portfolio.
TotalEnergies started operations in Ethiopia in 1950 and ran over 160 stations plus a depot in Dukem. OLA Energy now becomes the largest foreign operator in the country's retail fuel market.
