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Côte d’Ivoire: Government clears Petroci filling stations sale
A cabinet meeting on 28 February approved the sale of state oil company Petroci’s 37 service stations to Puma Energy. The sale forms part of a restructuring of the company, which made a loss of FCFA39.9bn ($71.6m) in 2015 following the collapse of the international oil price and has run up significant debts. The deal was agreed in 2016 but had been awaiting government approval. Petroci’s retail market share was around 5% at end-2017, behind market leader Total with 35%, Vivo Energy with 29% and Oil Libya with 13%.
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