en.Wedoany.com Reported - Libya's OLA Energy Holdings has signed an agreement to acquire all of TotalEnergies' assets in Ethiopia. The transaction was announced by the Tripoli-based Libyan government via an official statement on Tuesday local time, marking a key strategic advance for OLA Energy in the East African market.

The acquisition covers approximately 120 service stations, a fuel storage terminal with a capacity of 13,000 cubic meters, and related commercial and operational businesses. According to the statement, upon completion of the transaction, OLA Energy will become the largest foreign company in Ethiopia's fuel retail market, significantly enhancing its market share and brand influence in the East African region.

OLA Energy is a wholly owned subsidiary of the Libyan African Investment Portfolio (LAIP), with operations already spanning 17 African countries and mature experience in fuel supply and retail. This acquisition of TotalEnergies' assets in Ethiopia is part of the ongoing optimization and restructuring of the regional energy market, as well as a crucial step in OLA Energy's expansion of its East African business footprint.