Tuesday 2nd March, 2010
Oil giant BP will pull out of Namibia, Botswana, Tanzania, Malawi and Zambia it says
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 Africa's chief executive Sipho Maseko said in a statement.
The company had informed the respective governments and their workers of the decision last week.
Maseko said BP remained 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."
Maseko said BP was confident the businesses which it was looking to sell would offer good value and great potential to purchasers, 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," said Maseko.
[Associated Press]
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