TotalEnergies has announced the signing of an agreement to sell its 50 percent stake in Total PARCO Pakistan Limited (TPPL) to Gunvor Group, a leading global commodities trading company.
The transaction aligns with TotalEnergies’ selective strategy in its Marketing & Services division, focusing on core geographies with significant growth and transition opportunities, according to a press release issued on Tuesday.
TPPL is a joint venture between TotalEnergies Marketing and Services and Pak-Arab Refinery Limited (PARCO), each holding a 50 percent stake. The company operates a retail network of over 800 service stations in Pakistan and is involved in fuel logistics and lubricants activities.
Following the acquisition, the new entity will continue its retail operations under the existing “Total Parco” brand and its lubricants business under the “Total” brand for the next five years, ensuring continued service to its customers.
The completion of the transaction is subject to approval from relevant authorities and the finalization of related agreements.
TPPL’s storage infrastructure includes ten depots strategically located across key areas in Pakistan: Keamari (2), Shikarpur (1), Daulatpur (1), Mehmood Kot (1), Sahiwal (1), Machike (2), Rawalpindi (1), and Taru Jabba (1). The total storage capacity consists of 56,199 MT for gasoline, 47,238 MT for diesel, 5,544 MT for Excellium, and 1,243 MT for SKO.
TotalEnergies is a global integrated energy company that produces and markets a diverse range of energies, including oil and biofuels, natural gas and green gases, renewables, and electricity. The company operates in approximately 120 countries worldwide.
