French energy group Total has agreed to buy for an undisclosed amount the distribution business of Brazil's Grupo Zema, in order to expand in Brazil and in the biofuels sector.
Zema Petroleo runs a network of 280 dealer-operated service stations and several oil products and ethanol storage facilities, most of them located in the states of Minas Gerais, Goiás and Mato Grosso.
Total added it planned to expand its activities in the area and hoped to double the number of branded stations within five years, particularly in southeast and central-west Brazil.
Oil prices rebound to new levels, Stratas Advisors says in its latest oil price forecast.
The world witnessed the long-waited announcements related to successful trial results of several vaccines, which are the preliminary requisite for quick regulatory approvals that will then translate into mass production and distribution.
MPLX LP said May 5 it is no longer pursuing a Permian Basin to Gulf Coast NGL pipeline, called BANGL, after a collapse in oil prices.