Here to Stay

Amidst increasing competition from local investors and impending relocation of its headquarters, management from Total seemed intent on stressing that the oil company “is here to stay.” Jonathan Molapo, above, Total’s supply & marketing executive vice president for Central and North East Africa, held a press conference on Thursday January 10, 2013 to state this fact. Once part of a foursome of international oil companies, along with Mobil, Shell and Agip, that dominated the Ethiopian market, it is now the sole remnant in Ethiopia, while others have packed up and left. Instead, the downstream oil market in Ethiopia had been dominated by emerging local companies or other relatively new international companies. Total Ethiopia maintains that it is still the market leader in Ethiopia holding 30pc of the petroleum market share, although it is a very small lead. It also dominates lubricant sales, maintaining a strong 45pc lead on that front. More recently it has been asked to move, from its headquarters on Sierra Leone Street, just at the beginning of the Gottera interchange, since the site is needed for the construction of the Light Railway Train (LRT). “Total has rented out the entire B&B building across the African Union, for its headquarters,” Jonathan stated. “However in the long run we may also consider building our own headquarters here, as Ethiopia is a long term investment.”