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FinanceOLA Energy Group to acquire TotalEnergies Marketing Ethiopia
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OLA Energy Group and TotalEnergies SE announced the signing of a Share Purchase Agreement for OLA Energy to acquire TotalEnergies Marketing Ethiopia. The acquisition adds over 120 service stations across key Ethiopian cities including Addis Ababa, Dire Dawa, and Mek'ele, along with 10 storage assets, digital payment solutions, and logistics infrastructure. The deal encompasses full downstream operations serving B2B, retail, aviation, and lubricant customers. Separately, TD Cowen lowered its price target on TotalEnergies SE (NYSE:TTE) to $102 from $106 on July 2, maintaining a Buy rating, citing 'pockets of opportunity' in the oil sector after a rapid correction in crude prices. TotalEnergies is a global integrated energy company headquartered in Courbevoie, France, operating across Exploration & Production, Integrated LNG, Integrated Power, Refining & Chemicals, and Marketing & Services segments.
Source report
By Noor Ul Ain Rehman Published: July 15, 2026, 09:08 UTC
TotalEnergies SE (NYSE: TTE) is among the top cheap blue chip stocks to buy according to Wall Street analysts.
OLA Energy Group and TotalEnergies SE (NYSE: TTE) have announced the signing of a Share Purchase Agreement for OLA Energy to acquire TotalEnergies Marketing Ethiopia. The acquisition will add more than 120 service stations across key Ethiopian cities—including Addis Ababa, Dire Dawa, and Mek'ele—to OLA Energy's pan-African network.
Transaction Details
Management confirmed that the transaction covers the full downstream operations of TotalEnergies Marketing Ethiopia, which includes:
- A network of over 120 service stations strategically located across major cities
- Services for B2B, retail, aviation, and lubricant customers
- 10 storage assets
- Digital payment solutions
- Logistics infrastructure already in operation
Analyst Update
In a separate development, TD Cowen reduced its price target on TotalEnergies SE (NYSE: TTE) to $102 from $106 on July 2, while maintaining a Buy rating on the shares. The adjustment came as part of the firm's fiscal Q2 earnings preview, which included revised price targets across the oil majors sector.
TD Cowen noted that it sees "pockets of opportunity" in the sector following the "rapid correction" in crude prices and equities. The firm stated it favors TotalEnergies SE (NYSE: TTE), Shell, and Chevron heading into earnings season.
About TotalEnergies SE
TotalEnergies SE (NYSE: TTE) is a global integrated energy company headquartered in Courbevoie, France. The company produces natural gas and green gases, oil and biofuels, as well as renewables and electricity. It operates through the following business segments:
- Exploration & Production
- Integrated LNG
- Integrated Power
- Refining & Chemicals
- Marketing & Services
Disclaimer: While the potential of TTE as an investment is acknowledged, certain AI stocks are believed to offer greater upside potential and carry less downside risk. For further information on investment opportunities, readers are encouraged to review related reports.
Disclosure: None.
Source
Yahoo FinanceWestern
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OLA Energy Group to Acquire TotalEnergies Marketing Ethiopia