TotalEnergies Divests 50% Stake in Pakistan Joint Venture to Gunvor Group.
TotalEnergies has signed an agreement to sell its 50% stake in Total PARCO Pakistan Limited (TPPL) to Gunvor Group, a leading global commodities trading company. The decision is part of TotalEnergies’ strategic plan to concentrate on core regions with significant growth potential and opportunities for energy transition.
TPPL is a well-established joint venture between TotalEnergies Marketing and Services and Pak-Arab Refinery Limited (PARCO), operating more than 800 service stations across Pakistan. The company also manages fuel logistics and a lubricants business, playing a critical role in Pakistan’s energy sector.
Following the acquisition, the newly formed entity will maintain its retail operations under the “Total Parco” brand, while its lubricants division will continue to operate under the “Total” brand for the next five years, ensuring continuity of service to its customers in Pakistan.
This transaction underscores TotalEnergies’ broader strategy to streamline its operations and focus on regions where it can drive growth and support the transition to more sustainable energy sources. The sale is subject to regulatory approval from relevant authorities and the completion of associated agreements.
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TotalEnergies, a global integrated energy company, remains committed to producing and marketing a diverse array of energy products, including oil, biofuels, natural gas, green gases, renewables, and electricity. With operations in about 120 countries and a workforce of over 100,000 employees, TotalEnergies continues to place sustainability at the forefront of its global strategy.
TotalEnergies is a global integrated energy company that produces and markets a variety of energy products. The company operates in more than 120 countries and is focused on making energy more reliable, affordable, and sustainable.
