TotalEnergies has signed an agreement to sell its fuel distribution activities in Brazil to SIM Distribuidora, a Brazilian company. The transaction, subject to authorization by the relevant authorities, involves a network of about 240 filling stations and several storage facilities for petroleum products and ethanol.

SIM Distribuidora, a subsidiary of Grupo Argenta, boasts a presence in the Brazilian market with over 500 service stations, lubricants and aviation activities.

TotalEnergies emphasized this sale as part of its selective strategy in Marketing and Services in the retail network business focused on core geographies with significant market share positions.

Despite selling of its fuel distribution network, TotalEnergies stated that it will continue to operate its lubricants blending and distribution activities in Brazil.