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.
Nominate military veterans who demonstrate leadership and make significant contributions to the energy industry through the roles they play fulfilling a company’s mission or advancing its long-term success.
With more than $370 trillion of global financial contracts referencing LIBOR (London Inter-bank Offered Rate), many oil and gas companies are curious about how the phase-out of LIBOR by 2021 could impact their organization.
Staatsolie would also consider listing some of its shares on the New York or London stock exchanges to help raise between $1 billion and $2 billion to develop its offshore drilling program, the company's CEO said.