Oryx Energies agrees Zambian downstream sale to Horizon
The deal covers the group’s business in the country, which runs 33 service stations, as Oryx continues reshaping its African portfolio after recent deals in Tanzania and West Africa.
Oryx Energies has announced the sale of its downstream business in Zambia to Horizon Energies Limited. The value of the transaction and its expected completion date were not disclosed.
Oryx has operated in Zambia since 2007. According to the company’s website, it supplies fuels and lubricants to key industries, sells LPG in cylinders and in bulk, and runs a network of 33 service stations with shops.
The Zambian deal is the latest in a series of divestments by Oryx in recent weeks, as part of a strategic review of its African downstream portfolio. In October, the group agreed to sell its Tanzanian downstream oil business to Amsons Group and its Tanzanian gas business to ASAS Energies.
It also agreed to sell its downstream operations in Mali, Côte d’Ivoire and Togo to Niangadou Distribution Compagnie. Oryx has said it remains committed to Africa, focusing its investments on energy infrastructure and trading.
