Total sells UK retail, fuel distribution assets

Eric Watkins
OGJ Oil Diplomacy Editor

LOS ANGELES, June 21 -- Total SA signed a sale and purchase agreement to sell most of its marketing assets in the UK, the Channel Islands, and the Isle of Man to Rontec Investments LLP, the company reported.

The assets include the French company’s UK retail outlet network, including 810 Total-branded service stations; Butler heating oil business and associated logistics systems; and businesses in the Channel Islands and Isle of Man.

The Rontec Investments consortium comprises Snax 24, one of the leading independent forecourt groups in the UK; Grovepoint, a London-based independent principal investment firm; and Investec, an international specialist bank and asset manager.

Total said the transaction, which is expected to complete later this year, is in line with the group’s strategy of “rationalizing its downstream portfolio in Europe” and that the sale process for its refining assets in the UK “is ongoing.”

Meanwhile, in addition to its exploration and production operations, Total said it will retain a direct market presence in the UK through its lubricants, aviation fuels, special fluids, and chemicals businesses.

In February, in line with its plan to reduce European refining, Total announced that it would sell its share of Spanish oil company CEPSA to IPIC, a wholly owned unit of Abu Dhabi.

Total said the sale is for all of its nearly 49% stake in CEPSA, Spain’s second largest oil company, with refining capacity of 528,000 b/d, a network of about 1,750 service stations in Spain and Portugal, and hydrocarbons production of about 55,000 b/d. (OGJ Online, Feb. 16, 2011).

Contact Eric Watkins at

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...