BP pulls out of Zambia

British Petroleum (BP) has announced that it will sell its businesses in Zambia.

Sam Mupanemunda of the BP press Office has told the Watchdog that this follows a strategic review by BP into its refining and marketing businesses in southern Africa which showed the company should focus on those countries which offered the greatest synergies with its supply portfolio which are Mozambique and South Africa. 

“BP has announced to governments and employees in the countries of Namibia, Malawi, Tanzania, Zambia and Botswana that it is to sell the marketing businesses in these countries, he said.

According to Mupanemunda, BP Africa’s Chief Executive, Sipho Maseko, has told governments and employees in South Africa and Mozambique that the company is staying in these two countries and will be investing to grow the market share and grow BP value chain position.
He said: “I would like to stress that BP is and will stay committed to Africa.”
“We have significant operations in Angola, Mozambique and South Africa and in Algeria, Egypt and Libya.  We will continue to grow and invest in those markets, especially in the value chain infrastructure.
“We have discussed with the South African and Mozambique governments our desire to remain, and invest in, these two countries where we prefer to see our operations grow significantly,” he added.
He noted that BP was confident the businesses which it is looking to sell will offer good value and great potential to a purchaser, particularly given the strong economic outlook of the region as whole.
“A new owner can build on our good assets and grow the business further. All of our operations are leading marketing businesses, with strong market shares, well run operations, experienced and capable employees and strong health and safety performance,” he said.

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