TotalEnergies has signed an agreement to sell its fuel distribution activities in Brazil to SIM Distribuidora, a Brazilian company. The transaction involves a network of about 240 filling stations and several storage facilities for petroleum products and ethanol.
SIM Distribuidora, one of the recognized players of the fuel distribution business in Brazil, belongs to Grupo Argenta, which has more than 500 service stations, lubricants and aviation activities.
This sale reflects the selective strategy of TotalEnergies in Marketing & Services in the retail network business focussed on core geographies with significant market share positions. The Company will retain its lubricants blending and distribution activities in Brazil.
The acquisition remains subject to authorization by the relevant authorities.
About TotalEnergies in Brazil
TotalEnergies has been operating in Brazil for almost 50 years, through five subsidiaries, and today employs more than 3,500 people in its business segments, in Exploration & Production, gas, renewable electricity (solar and wind), lubricants and chemicals. TotalEnergies’ Exploration & Production portfolio currently includes 11 licenses, of which 4 are operated. In 2023, the Company’s average production in the country will reach approximately 140,000 barrels of oil equivalent per day. TotalEnergies is investing in the growth of the renewable energy segment in Brazil. In October 2022, the company entered into a partnership with Casa dos Ventos, Brazil’s leading renewable energy player, to jointly develop a 12 GW renewable energy portfolio.
