Total Tanzania has refuted claims that its current sales of stations, plots and depots was an indication of it exiting the East African country as alluded by the Africa Energy Chamber yesterday. According to the company the disposal of assets emanate from excess and duplicating infrastructure arising from the acquisition of GAPCO Tanzania Limited assets in 2018 for more than $200 million.
According to the company the joining of the two competitors in the past three years has left the oil marketer with redundant stations and depots some in close proximity. Infrastructure upgrades such as construction of new roads have left some of its assets inaccessible and hence a need to dispose these assets.
Late yesterday the President of the Africa Energy Chamber NJ Ayuk and the Executive President African Energy Chamber CEMAC Zone Leoncio Amada lashed out at the Tanzania government for creating a hostile environment for investors.
Sad to see @Total moving away from #Tanzania. State action that results in kicking out investors is not always good. So much potential in Tanzania. You can’t love jobs then hate those who create jobs. Get on the table and fix it. pic.twitter.com/Hq4fKtHkyw
— NJ Ayuk (@nj_ayuk) September 1, 2020
It is very unfortunate to see @Total leaving Tanzania 🇹🇿. Now more than ever, the african #oilandgasindustry needs #FDI coming to our continent, not leaving. #Jobs and #businesses are destroyed in the process. Policies that protect investment must be promoted. VERY BAD!! #oott pic.twitter.com/reBFnZhyZm
— Leoncio Amada NZE (@Nze3) September 1, 2020
Just yesterday the oil marketer opened its newest station in Tanzania’s port city of Dar es Salaam bringing the total outlets in Tanzania close to 100.
“We apologize to our readers, Total Tanzania and Tanzanian’s in general for our earlier article “Total Seeks Tanzania Downstream Business Exit After 50 years?” . OilNews Africa is committed to carrying factual articles and we expect “generally accepted credible news sources” to play their part in ensuring there is no misinformation originating from them ,” Kamau Mbote – OilNews Africa editor.
OilNewsAfrica has since unpublished an earlier article quoting the Africa Energy Chamber.