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From Wikipedia, the free encyclopedia
Ola, is the brand name used by the affiliates owned by Libya Oil Holdings and previously known as Tamoil Africa. Ola has over 3000 branches in 17 countries across Africa, including Egypt, Senegal, Ivory Coast, Cameroon, Gabon, Kenya, Mali, Burkina Faso, Niger, Chad, Eritrea, Uganda, Nigeria, Mauritius, Réunion, Morocco, Tunisia, Ethiopia, and Sudan.[1]
In 2008, OiLibya entered the Ethiopian market acquiring 100% of Shell's Ethiopia and Djibouti petroleum retail business.[11] The amount of money spent by Oilibya to close the deal was unrevealed.[12] Oilibya has bought many other retail petroleum dealers in Africa, including taking over ExxonMobil's business in Kenya.[13]
Bahru said at the time the sale was consistent with Shell's global strategy to focus on oil exploration and get out of retail business.[14]
OiLibya has 18 subsidiaries[15]
In February 2011, some African countries began to express concerns as to how the 2011 Libyan civil war might affect OiLibya and its outlets across the region. Of particular concern were the huge debts racked up by Libya's key enterprises.[16][17]
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