Total: investment with Saudi Aramco in Saudi Arabia
(CercleFinance.com) - On Thursday Total announced that it has signed a joint venture agreement with Saudi Aramco for the development of the distribution and sales of petroleum products and services in Saudi Arabia.
"The 50:50 JV plans to invest around USD 1 billion over the next 6 years in the Saudi fuel retail market and start providing motorists with premium fuels and retail services in Saudi Arabia," it said.
"This joint venture, equally owned by both partners, plans to invest approximately $ 1 billion in the Saudi market over the next six years and will provide premium fuel and a wide range of related services to motorists," he said. it is specified.
Total and Saudi Aramco have also signed an agreement with the owners of Tas'helat Marketing Company and Sahel Transport Company to acquire both these companies, including a network of 270 service stations and a fleet of vehicles to transport petroleum products.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
"The 50:50 JV plans to invest around USD 1 billion over the next 6 years in the Saudi fuel retail market and start providing motorists with premium fuels and retail services in Saudi Arabia," it said.
"This joint venture, equally owned by both partners, plans to invest approximately $ 1 billion in the Saudi market over the next six years and will provide premium fuel and a wide range of related services to motorists," he said. it is specified.
Total and Saudi Aramco have also signed an agreement with the owners of Tas'helat Marketing Company and Sahel Transport Company to acquire both these companies, including a network of 270 service stations and a fleet of vehicles to transport petroleum products.
Copyright (c) 2019 CercleFinance.com. All rights reserved.