Fuelex SA

FUELEX SA is a company incorporated under Senegalese law, established in January 2024, and holds import and distribution licenses for petroleum products.   The company officially began its distribution activities in December 2024.   In its current business model, the company focuses on 03 business segments : • B2B distribution of heavy fuel oil (HFO 380) and light fuel oil (180) to industrial companies and resellers operating both domestically and for export within the sub-region; Sales of LFO/Gasoil in B2B segment and Marine Gasoil in Bunkering segment; Export of refined petroleum products (Super and Diesel) and Fuel Oil 180/380 to the sub-region.   This strategic positioning materialized with the acquisition of the portfolio of former B2B clients of TotalEnergies Marketing Senegal, following the TotalEnergies Group's decision to cease marketing these products as of December 31, 2024.   To date, FUELEX SA is preparing for the upcoming implementation and development of its products and activities in other downstream petroleum segments, including industrial and automotive lubricants, the Retail services stations network, and aviation.   For its supplies, FUELEX SA relies on local suppliers, notably the “Société Africaine de Raffinage (SAR)” and other authorized marketers, as well as on foreign suppliers through its import license.   In terms of logistics, FUELEX SA relies on local service providers with infrastructure that meets industry standards for the storage (SENSTOCK among others) and delivery of petroleum products (main carriers in the area).