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Reliance Industries sells 76% stake in GAPCO to Total

by ChemOrbis Editorial Team -
  • 31/03/2017 (12:24)
According to media reports, Reliance Industries Ltd (RIL) completed the sale of its 76% stake in Gulf Africa Petroleum Corp (GAPCO) to Total Marketing & Services, a subsidiary of French oil and gas firm Total on March 29.

Among the assets acquired by Total are two logistical terminals in Kenya and Tanzania, and a retail network of about 100 service stations.

Reliance Exploration & Production DMCC (REPDMCC), a subsidiary of RIL, had purchased the 76% stake in 2007 from GAPCO, a holding company which has subsidiaries in Tanzania, Kenya and Uganda and are operating in imports, trading, storage, distribution, marketing, supply and transportation of oil products in East Africa.
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