RIL sells stake in African oil retailer GAPCO to Total SA

Reliance Industries Limited (RIL) is exiting its international fuel retailing business by selling its stake in Mauritius-incorporated Gulf Africa Petroleum Corporation (GAPCO), which trades in and markets fuel in Africa, to France-based energy producer Total. RIL, through its arm Reliance Exploration & Production DMCC, acquired a 76 per cent stake in GAPCO in 2007. GAPCO operates 108 retail outlets and owns 260 thousand kilolitres of storage capacity in East Africa. RIL will now focus on the fuel retail business in India only.

GET ACCESS TO OUR ARTICLES

Enter your email address