TotalEnergies has entered into an agreement to sell its 50 percent stake in Total PARCO Pakistan Limited to Gunvor Group, a prominent global commodities trading company. This transaction is part of TotalEnergies’ strategic focus on core geographies that offer growth and transition opportunities within its Marketing & Services division.
TPPL is a 50/50 joint venture between TotalEnergies Marketing and Services and Pak-Arab Refinery Limited in Pakistan. The venture operates a vast retail network of over 800 service stations, along with fuel logistics and lubricants businesses across the country.
Following the transaction, the new entity will continue its retail operations under the established “Total Parco” brand. Additionally, the lubricants business will retain the “Total” brand name for the next five years, ensuring continuity in service for its customer base in Pakistan.
The completion of this acquisition is contingent upon receiving the necessary authorisations from relevant authorities and the finalisation of related agreements.
For more information visit www.totalenergies.com
