Total Tanks Up In Egypt
Total on 15 May bought Shell’s 85-strong Egyptian gas station network. The purchase complements Total’s existing 73 Egyptian outlets and propels the French major into fourth spot of Egyptian fuel retailers. Local firm Misr Petroleum is the market leader with 873 stations, whilst ExxonMobil has over 350.
Total, in contrast to many of its peers, takes a bullish view on the Mideast downstream and has been expanding...