Société Pétrolière inaugurates new service station in Morocco

On 10 June 2023 at 09:12

Société Pétrolière (SP) in partnership with their partners BB Energy has inaugurated a new service station under the Société Pétrolière Maroc brand. This is the tenth service station of the group in the country, strengthening its commitment to the Moroccan energy sector.

In the presence of Mr.Mohamed Bassatne, CEO of BB Energy Group and Mr. Bashir Bassatne, CEO of BB Energy Downstream, the inaugural opening took place on Friday 9th June 2023 with a ribbon cutting ceremony by Mr. Baha Bassatne, Chairman of BB Energy Group and Mr. Egide Gatera, founding shareholder of Société Pétrolière Limited.

Commenting on the launch, Gatera stated: “We are very proud to continue to strengthen our partnership with the BB Energy group. Today is an important day for the Société Pétrolière brand as it marks the opening of our network in the country, while demonstrating the attractiveness of Morocco as a key market for investment. In collaboration with BB Energy, we plan to open 20 more service stations over the next few years. We look forward to exploring future investment opportunities in Morocco as the country seeks to transform its energy system in the years to come.”

Bassatne, CEO of BB Energy Group, said that their continued investment in Morocco demonstrates commitment to be a long-term partner in the country’s energy system.

"Over the past 12 months, we have actively expanded our business across the value chain, particularly in the downstream and renewable energy sectors. Morocco continues to be a very attractive investment market for companies like BB Energy, and I look forward to working closely with our partners within a very dynamic ecosystem to participate in the transition of the countries towards more environmentally friendly forms of energy, from electric vehicle charging infrastructure to green hydrogen production,” he noted.

With a long experience in energy trading, the partnership seeks to add value to its Moroccan customers by helping them import, store and sell fuel from several locations across the country.

Leveraging the group’s expertise and scale, SP Morocco is working to reduce working capital requirements while helping current and future clients navigate and overcome the price volatility experienced in recent years their strategic investments to develop green and clean energy sources in Morocco.

The group is currently planning to invest in solar energy, electric mobility infrastructure, green hydrogen and ammonia, thus contributing to Morocco’s ambition to become one of the largest producers of hydrogen in the world.

About Societe Petroliere and BB Energy

Societe Petroliere Limited (SP) is the largest integrated petroleum marketing company in Rwanda with a 35% market share and sourcing capabilities in Kenya and Tanzania. SP sells approximately 150,000 m3 of refined products per year through its retail network and wholesale customers. SP operate the largest a network of service station in Rwanda with over 60 nationwide and is a key supplier of petroleum products to commercial and industrial customers. In 2019, SP increased its storage capacity at the Rusororo Depot to 60,000 m3 to meet the market demands. In addition, SP Ltd continues its commitment and core value to support Rwanda’ s transition to environmentally friendly energy solutions such as the supply of Liquified Petroleum Gas.

BB Energy Group is one of the world’s leading independent energy trading companies, with over 50 years of experience in the energy sector and a growing division in renewable energy and emissions reduction. The group has around 500 employees in 12 offices on five continents, with key trading centers in London, Dubai, Singapore and Houston. The group’s growth strategy is focused on sustainable energy products and projects, implemented through geographic expansion into new markets, product diversification and acquisitions.

In 2018, BB Energy Group acquired 70% of Société Pétrolière au Rwanda. The group further strengthened its partnership by launching the network of service stations under the SP brand in Morocco.