Ethiopia Suspends Review of OLA Energy-TotalEnergies Deal

August 3, 2026
By Mintesinot Nigussie

Ethiopian regulators have paused approval of OLA Energy's proposed acquisition of TotalEnergies Marketing Ethiopia after determining that the transaction warrants closer scrutiny over its potential impact on competition in the country's fuel retail market. People familiar with the review told Capital Newspaper that the Ethiopian Trade Competition and Consumer Protection Authority is assessing whether the combined company would command a market share approaching half of the domestic fuel retail business, raising concerns about excessive market concentration.

The review reflects broader concerns that a single operator with such a large presence could increase vulnerabilities in the fuel supply chain. Officials and industry sources said regulators are examining whether any future operational disruption or withdrawal by a dominant player could have significant consequences for fuel distribution and availability nationwide.

The proposed acquisition was agreed in Paris in late June 2026, when OLA Energy, a pan-African fuel retailer backed by Libyan state investment institutions, reached an agreement to acquire TotalEnergies' Ethiopian business. The companies have not disclosed the financial value of the transaction. If completed, the acquisition would combine two of the country's largest downstream petroleum operators. The merged business would reportedly overtake the National Oil Company in market size, making it the largest fuel retailer in the country.

Officials at the Ministry of Trade and Regional Integration confirmed that the competition review has been suspended while the authority carries out its statutory assessment. Under Ethiopia's merger control framework, the regulator is required to examine whether acquisitions could substantially reduce competition before granting approval. The transaction covers TotalEnergies Marketing Ethiopia's downstream operations, including more than 120 fuel stations, a 13,000-cubic-metre storage terminal in Dukem, additional storage facilities, aviation fuel operations at Bole International Airport, lubricant businesses, digital payment systems and logistics infrastructure.

The deal would also mark the end of TotalEnergies' presence in the country after more than seven decades. The French energy company has operated in Ethiopia since 1950, and the proposed sale forms part of its strategy to reshape portions of its downstream fuel distribution business in Africa. The Ethiopian Petroleum and Energy Authority said it has not yet received a formal notification of the proposed merger. Competition authorities review mergers under Trade Competition and Consumer Protection Proclamation No. 813/2013 and Merger Guideline No. 1/2016, assessing factors including market concentration, barriers to entry, supplier concentration and potential effects on consumers.

Source: FSX Business News