Exor Petroleum, one of the country’s pioneering indigenous oil companies, has formed a joint venture company, PetromocExor, with Mozambique oil giant Petroleos de Mocambique (Petromoc). 

The joint venture between Exor and Petromoc, which is a quasi-government Mozambican company, will see the gradual re-branding of all Exor service stations to reflect the new PetromocExor brand. 

The joint venture is expected to usher in a bright future not only for the two brands but for the oil industry and the country at large. 

Exor Petroleum's capital contribution to the new company includes 14 operational service stations, 4 ready-to- build sites, 4 operational holding depots and one ready-to-build depot site as well as commercial tanks across the country, while Petromoc will bring in working capital and vast technical capabilities.

Tags: Exor, Mozambique, Oil,