TotalEnergies Marketing USA Central America division has entered a strategic partnership with Terpel Panama, a subsidiary of Petrolera Nacional and Compañía de Petróleos de Chile (COPEC), to commercialise its lubricants product portfolio in Panama.
This agreement will make TotalEnergies' motor oils for light vehicles widely accessible across Panama, leveraging Terpel's network of service stations.
TotalEnergies Marketing USA CEO and president Franck Bagouet said: "Through this alliance, we expand the availability of our products in the service station network in the country. This type of agreement is key to continue offering the end consumer the wide range of TotalEnergies lubricants for all types of vehicles, strengthening our omnichannel presence."
TotalEnergies' lubricant products will now be available across Terpel Panama’s extensive network within the country, including 192 service stations, 130 fleet stations, 75 full-service stations and more than 60 convenience stores.
Terpel Panama CEO Gustavo Rodriguez said: "As Terpel Panama, we have an extensive network of service stations throughout the country. We know our customers and we know that they place significant importance on the quality of our fuels, so this agreement with TotalEnergies will allow us to also offer them the best quality lubricants on the market."
TotalEnergies Marketing USA head of Central America and Belize Francisco Ovalle said: "With more than ten years in Panama and across Central America, number one marine lubricant, power generation and LNG [liquefied natural gas] supplier in the country, this partnership will expand the availability of our products in the retail market.
“This type of agreement is key for us to continue offering the final consumer the range of TotalEnergies lubricants for all types of light and heavy-duty vehicles. Our partnership is a testament of our dedication to expanding our global footprint. Panama's markets hold immense potential, and with Terpel Panama's local expertise, we are poised to provide exceptional lubrication solutions to a wider customer base."
Earlier this month, TotalEnergies broadened its gas portfolio by acquiring complete ownership of SapuraOMV Upstream, an independent gas producer in Malaysia.
