Gunvor Group, a leading global commodities trading company, has signed an agreement to purchase TotalEnergies’ 50% stake in Total PARCO Pakistan Limited (TPPL).
TPPL is a 50/50 joint venture between TotalEnergies Marketing and Services and Pak-Arab Refinery Limited (PARCO) in Pakistan with a retail network of more than 800 service stations, fuel logistics, and lubricants activities.
The new entity will continue its retail business under the existing “Total Parco” brand, and its lubricants business under the “Total” brand in Pakistan, continuing to serve its customers.
The acquisition remains subject to authorization by the relevant authorities and related agreements.
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