BB Energy Morocco inaugurated on Friday a new gas station network in Azzemour (75 km southwest of Casablanca) under the brand Société Pétrolière (SP), the group announced.
This is the group’s tenth gas station in the country, as BB Energy Morocco reinforces its commitment to Morocco’s energy sector.
The inauguration was attended by Chairman of BB Energy Group Baha Bassatne, CEO of BB Energy Group Mohamed Bassatne, CEO of BB Energy Downstream Bashir Bassatne, and founding shareholder of Société Pétrolière Limited Egide Gatera.
“Morocco continues to be a highly attractive investment market for companies like BB Energy and I look forward to working closely with our partners and within a very dynamic ecosystem to participate in the country’s transition to greener forms of energy – from electric vehicle charging infrastructure to green hydrogen production,” said Mohamed Bassatne.
“Working together with BB Energy Morocco, we plan to open another 20 gas stations in the next few years. We look forward to exploring future investment opportunities in Morocco as the country seeks to transform its energy system over the coming years,” affirmed Egide Gatera.
BB Energy Morocco aims to expand its activities across the energy value chain in the country.
As Gatera mentioned, the company intends to add 20 additional gas stations by 2024, building on the 10 petrol stations that are now up-and-running. This represents a significant portion of the group’s 200 million Dirhams ($20 million) investment in Morocco’s distribution infrastructure alone over the next two years.
The company also has sought to add value for its Moroccan customers by helping to import, store and sell fuel from multiple sites across the country–in addition to reducing working capital requirements–while helping its current and future customers to navigate and overcome the price volatility encountered in the past few years.
The group is currently considering investment in solar power, e-mobility infrastructure, and green hydrogen and ammonia.
BB Energy, founded in Lebanon in 1937, originally started as a grain and asphalt trading company before entering the oil industry in 1963. It remains among the world’s leading independent energy trading companies.