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Libyan Oil Co Buys Shell Distribution Network In Eritrea



03-31-04 06:10 AM EST

TRIPOLI (AP)--A Libyan state company has purchased Royal Dutch/Shell's depot and gas stations in Eritrea, taking a majority stake in Eritrea's gasoline distribution network, a company statement said Wednesday.

Tamoil's statement did not reveal how much it paid for the facilities, but it said the company now controlled 54% of Eritrea's gasoline market.

The statement said the purchase was part of Tamoil's plans to expand its business on the African continent.

Tamoil has gas stations are in many countries, including Italy and Germany.

  Dow Jones Newswires
  03-31-04 0610ET 



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