TotalEnergies Sells Fuel Distribution in Brazil to SIM Distribuidora

TotalEnergies has announced the sale of its fuel distribution business in Brazil to SIM Distribuidora. The agreement includes around 240 filling stations and storage facilities for petroleum products and ethanol. SIM Distribuidora, a key player in Brazil's fuel distribution sector, is part of Grupo Argenta, which operates more than 500 service stations alongside activities in lubricants and aviation.

This move aligns with TotalEnergies' strategic focus on core geographies where it holds significant market positions. However, the company will maintain its lubricants blending and distribution operations in Brazil. The deal is pending approval from relevant authorities.