Terpel to exit Ecuador fuel retail by 2030
The move forms part of a strategy to concentrate resources on higher-growth.
Colombian fuels group Terpel plans to complete the divestment of its company-owned service stations and convenience stores in Ecuador this year, with the sale of affiliated sites to follow gradually through to the end of 2030, the company said in a regulatory filing, reports BNAmericas.
The move forms part of a strategy to concentrate resources on higher-growth, higher-margin businesses, including lubricants in Ecuador and Peru, where Terpel holds a 14% share of the Ecuadorian lubricants market. In May 2025, the board approved a $10 million capital injection into Terpel Lubricantes Ecuador to acquire and modernize a lubricants plant.
"What we have found has been very positive in terms of interest, although nothing has materialized yet, but we are in this process," financial planning manager Fabian Jiménez told analysts on Terpel's first-quarter earnings call, after an earlier agreement to sell the Ecuador network to fellow Colombian fuels supplier Primax collapsed amid competition-authority restrictions.
Terpel's Peru service station network was sold to Primax last September. Majority owner Empresas Copec, the Chilean energy conglomerate, holds a 58.5% stake in Terpel. Terpel entered Ecuador in 2006 and at its peak operated more than 100 sites across 19 provinces, but will retain its Mobil-branded lubricants business in the country.
