A decision on the project by Angolan oil and fuel company Sonangol and French oil group Total to set up a company to operate in the logistics, distribution and marketing of oil products will be announced shortly, said a senior official from the Angolan Regulatory Competition Authority (ARC).
The head of the ARC’s Concentration Control department, Inocêncio Muachingue, told the Angop news agency that the project is still under consideration to assess what effects the future company may have on competition in the sector.
“It should be remembered that Sonangol is, at the outset, a company that already operates in the market in the segment of logistics, distribution and marketing of oil products,” said the official, while making statements to journalists on the sidelines of the Seminar on the Legal Competition Regime.
Muachingue mentioned another case under consideration by the ARC, which concerns the sale of the entire 50.10% stake that Russia’s VTB Bank controls in Banco VTB-África to Russian financial intermediary company Rostang.
Source: Macauhub