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BP to focus refining and marketing investment in South Africa and Mozambique

Release date: 2 March 2010

BP has announced to governments and employees in the countries of Namibia, Malawi, Tanzania, Zambia and Botswana that it is to sell the marketing businesses in these countries

 

This follows a strategic review by BP into its refining and marketing businesses in southern Africa which showed the company should focus on those countries which offered the greatest synergies with its supply portfolio which are Mozambique and South Africa.

 

BP Africa’s Chief Executive, Sipho Maseko, has told governments and employees in South Africa and Mozambique that the company is staying in these two countries and will be investing to grow the market share and grow BP value chain position.

 

He said: “I would like to stress that BP is and will stay committed to Africa.”

 

“We have significant operations in Angola, Mozambique and South Africa and in Algeria, Egypt and Libya. We will continue to grow and invest in those markets, especially in the value chain infrastructure.

 

“We have discussed with the South African and Mozambique governments our desire to remain, and invest in, these two countries where we prefer to see our operations grow significantly,” he added.

 

He noted that BP was confident the businesses which it is looking to sell will offer good value and great potential to a purchaser, particularly given the strong economic outlook of the region as whole.

 

“A new owner can build on our good assets and grow the business further. All of our operations are leading marketing businesses, with strong market shares, well run operations, experienced and capable employees and strong health and safety performance,” he said.

Further information:

Contacts

 

Sam Mupanemunda, BP press office, +27 (0)11 488 5075

Note to editors:

 

The BP Africa region consists of the company’s downstream operations in Namibia, Botswana, Mozambique, South Africa, Tanzania, Malawi and Zambia which employ approximately 1,760 staff. In addition, the company is engaged in oil and gas exploration activities in Angola, Algeria, Egypt and Libya.

 

Downstream infrastructure in the region includes some 29 depots and terminals, more than 800 retail sites and the largest refinery in the region co-owned with Shell.

 

BP is one of the world's largest energy companies, providing its customers with fuel for transportation, energy for heat and light, retail services and petrochemicals products for everyday items in more than 90 countries.

 

BP has been present in Africa for more than 80 years and operates in countries across the continent, eight of which are south of the Sahara. BP has a range of interests from oil and gas exploration, crude oil importation and refining, to the distribution and marketing of gas and refined products.