Gunvor Group to acquire a 50% stake in Total PARCO Pakistan from TotalEnergies.

Gunvor Group, a multinational energy commodities trading company, agreed to acquire a 50% stake in Total PARCO Pakistan, a Pakistani oil marketing company, from TotalEnergies, a French multinational integrated energy and petroleum company. Financial terms were not disclosed. The new entity will continue its retail business under the existing Total Parco brand, and its lubricants business under the Total brand for five years in Pakistan.