Total is merging its operations in Portugal with those of Cepsa to create a major operator in the Portuguese petroleum product market.

The new company will have a market share of almost 11%, a network of 300 service stations and a strengthened position in specialties, including lubricants, bitumen, aviation fuel and liquefied petroleum gas (LPG).

The service stations will be co-branded Cepsa/Total, while lubricants will be marketed under the Total, Cepsa and Elf brands. Cepsa will manage the new entity.

Total has been a Cepsa shareholder since 1990 and holds a 48.83% interest in Spain’s second-ranked petroleum company.

Tags: Total