Oryx Energies acquired by Moussa Diao and Hervé Bouvet

Moussa Diao and Hervé Bouvet have taken control of Oryx Energies, one of Africa’s oldest independent distributors of refined petroleum products. The management buyout, valued at approximately $1 billion, involves the acquisition of a majority stake from Swiss-British billionaire Jean-Claude Gandur.

This transaction marks a significant shift in the African downstream oil market, signaling a transition of capital from international majors and Swiss traders toward West African investors. Moussa Diao, the son of Senegalese oil industry figure Abdoulaye ‘Baba’ Diao, has led the group since 2019.

Oryx Energies operates in roughly 20 African countries, providing fuel, liquefied petroleum gas (LPG), lubricants, and marine bunkering. The company maintains a network of over 410 service stations and a total storage capacity of nearly 947,000 cubic meters, including strategic assets such as the Bargny terminal in Senegal.