Libya bids US$2 billion for Shell in 21 African countries
The Libyan company, Oil Libya Holding Company is making a US$2 billion offer to purchase some of the downstream businesses of Shell in Africa, official sources told PANA on Thursday in Tripoli, the Libyan capital.
The offer, announced by the legal adviser of the Anglo-Dutch oil company in Tunisia, Faical Werfelli, is for 21 African countries and excludes Shell in South Africa.
Shell, which will announce the name of the successful buyer in mid-June, had a turnover of US$357 billion in 2007 and stands as the biggest European oil company with a turnover increasing by 29% over all the past years.
Oil Libya Holding Company, formerly called Tamoil, is under the supervision of Libya Africa Portfolio (LAP), whose capital is US$800 million. It includes Libya Arab Africa Investment Company (LAAICO), Libya Africa Financial Company (LAFICO), Afriqiya airline and the Sahelo- Saharan Bank for Industry and Trade (BSIC).
The Libyan oil distribution company operates in 20 African countries including Burkina Faso, Cameroon, Cote d'Ivoire, Djibouti, Egypt, Eritrea, Ethiopia, Gabon, Kenya, Mali, Morocco, Niger, Nigeria, Senegal, Sudan, Chad, Tunisia, Uganda and Mauritius.
In addition, the company supplies aviation fuel at 28 airports in Tunisia, Morocco, Cameroon, Niger, Senegal, Burkina Faso, Mali, Djibouti, Ethiopia and Sudan.
Oil Libya has 1,250 fuel retain stations that employ 2,800 people in African countries, selling 4 billion litres of oil each year.
In 2012 Oil Libya plans to set up 3,000 fuel retail stations with several factories, outlets, as well as participate in oil exploration in Libya, Chad, Sudan and Benin.
The Libyan company, which has expressed the wish to be in more Africa countries, in February 2008, bought Mobil Maroc, a subsidiary of Exxon Mobil, which holds 10% of the Moroccan market for the distribution of fuel.
It has also invested in oil exploration in Morocco by buying about 65% of the US investment fund, Colony Capital. It has set up a Moroccan-Libyan company called Tamoil Sakia, which intends to invest about US$100 to US $150 million in oil exploration in Laayoune in Western Sahara, as well as in the supply and distribution of oil products in the region.
The company plans to invest US$6 billion in Egypt to set up a new oil refinery and 500 fuel retail stations.
Libya Oil Holdings Limited is also in Gabon through its subsidiary, Libya Oil Gabon S.A. with all Mobil Oil fuel retail stations in the capital, Libreville, being replaced by Oilibya.
The Libyan authorities in 2008 set up Oil Libya Holding Company with to extend its activities to the continent and South America.
Tripoli - Pana 11/06/2010