Rubis

What Rubis does

Rubis is an independent French international energy operator listed on Euronext Paris (EPA: RUI), founded in 1990 and headquartered in Paris. The company runs two business lines: Energy Distribution (Retail & Marketing through 1,084+ service stations across 23 countries, and Support & Services covering sourcing, maritime transport, refining via SARA in the Caribbean, and third-party trading) and Renewable Electricity Production via 80%-owned subsidiary Photosol, which develops and operates photovoltaic power plants across France, Italy, Spain, and Poland. Products span LPG (propane and butane), automotive fuels (including Ultra Tec additivated fuels), aviation and marine fuels, industrial fuels, bitumen and bituminous products for road construction, and renewable products such as RD100 renewable diesel and EcoHeat100 renewable heating oil.

The group operates with a decentralized model across 45 countries in Europe, Africa and the Caribbean, with 99% of staff locally recruited and ~4,614 employees as of December 2025. Underlying technology and infrastructure include fuel storage terminals, LPG bottling and storage facilities, a dedicated bitumen vessel fleet and trucking, airport refueling terminals, the SARA refinery stake, and a renewable portfolio of 633 MWc of installed photovoltaic capacity. Rubis is also exploring hydrogen-electricity through its 18.5% stake in HDF Energy and the Renewstable Barbados solar-plus-hydrogen baseload project.

Rubis earns revenue through transaction-based commodity margins on fuels, LPG and bitumen (pricing linked to international benchmarks) and through long-term 20-year power purchase agreements at guaranteed rates from Photosol. Customer mix is diversified across individual consumers (retail stations, LPG bottles), industrial and commercial buyers (aviation, road construction, agriculture, hospitality), with select large relationships such as the Kenya Airways SAF partnership and the Fruits Rouges & Co agrivoltaic PPA. The group is governed as a French Partnership Limited by Shares (SCA) with a Management Board and Supervisory Board, and significant insider ownership via the Molis family.

Name

Rubis

Legal name

Rubis SCA

Website

https://rubis.fr

Company type

Public

Founded year

1990

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Rubis is an independent French energy operator (Euronext Paris: RUI) distributing fuels, LPG and bitumen across 45 countries via 1,084+ stations, plus producing solar electricity through Photosol; it serves individual consumers, industrial buyers and infrastructure projects in Europe, Africa and the Caribbean.

Ownership category

akta.pro rank

Product category

Energy Distribution

NAICS

Solar Electric Power Generation (221114), Natural Gas Distribution (22121), Petroleum Refineries (32411)

SIC

Wholesale-Petroleum Bulk Stations & Terminals (5171), Wholesale-Petroleum & Petroleum Products (No Bulk Stations) (5172)

akta.pro primary industry

Convenience Retail & Foodservice at Forecourts (C-Store/QSR) (EUALAIAE)

akta.pro secondary industry

Substations, Transformers & Grid Step-Up Facilities (EHV Substations, GSU Transformers) (EUAMAFAE)

Keywords

• Energy distribution
• Fuel retail
• LPG distribution
• Bitumen logistics
• Photovoltaic electricity

Headquarters

HQ city

Paris

HQ country

France

HQ region

Europe

Offices4 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Supply Chain, Operations, Personnel, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Energy Distribution - Retail & Marketing: Distribution of fuels, heating oil, lubricants, liquefied gases (LPG), and bitumen through station networks and direct B2B/B2C sales across Europe, Africa, and Caribbean. Revenue driven by volume and unit margins. Major products include LPG (propane/butane), automotive fuels, aviation fuel, industrial fuels, and bitumen for road construction.
2. Energy Distribution - Support & Services: Upstream logistics including product sourcing, maritime transport, and refining activities in the Caribbean through SARA participation. Trading activities for third-party account.
3. Renewable Electricity Production: Photovoltaic electricity production through Rubis Photosol subsidiary. Revenue from 20-year power purchase agreements (PPAs) with guaranteed prices, operating in France, Italy, Spain, and Poland.

Go-to-market motion3 records

Distribution channels7 records

Marketing channels6 records

Core offering

Rubis distributes fuels, LPG, bitumen and lubricants through 1,084+ service stations and direct B2B delivery channels across 45 countries in Africa, the Caribbean and Europe, and produces renewable electricity through its Photosol photovoltaic subsidiary operating 633 MWc of installed capacity. The company's value chain spans upstream logistics (sourcing, maritime transport, refining through SARA) to last-mile delivery via owned logistics assets including storage terminals, vessels and tanker fleets.

Product overview

Rubis is an independent French energy group operating two core business lines: Energy Distribution and Renewable Electricity Production. Energy Distribution encompasses supply, transport, storage, and delivery of fuels, LPG, bitumen, and lubricants through Retail & Marketing (1,084 stations across 23 countries) and Support & Services (logistics and SARA refinery operations). Renewable Electricity Production operates through subsidiary Photosol, developing and operating photovoltaic power plants across France, Italy, Spain, and Poland. The company also offers specialty products including RD100 renewable diesel, EcoHeat100 renewable heating oil, and agrivoltaic solutions. With 4,614 employees across 45 countries in Africa, Caribbean, and Europe, Rubis provides essential energy products and services to individuals and professionals.

Differentiator

Problem solved

Functional benefit

Brands

• Ultra Tec: Additivated fuels brand that improves vehicle performance while reducing consumption and emissions
• EcoHeat100
• RD100
• GAZ'L

Products and services

• Energy Distribution Core segment encompassing the supply, transport, storage and delivery of fuels, LPG, bitumen and lubricants to retail and B2B customers across Africa, the Caribbean and Europe.
• Renewable Electricity Production (Photosol) Development and operation of ground-based photovoltaic power plants, parking canopies and rooftop installations across France, Italy, Spain and Poland, producing renewable electricity under long-term PPAs.
• LPG (Liquefied Petroleum Gas) Distribution of propane and butane gases in bottles or delivered to bulk tanks, serving residential cooking and heating customers as well as commercial and industrial LPG users.
• Bitumen Distribution Distribution of bitumen and bituminous products (PMB, emulsions) for road construction, with integrated logistics including purchasing service, vessel fleet, storage and trucking.
• Ultra Tec Fuels Additivated retail fuel products sold across the station network that improve vehicle performance while reducing consumption and emissions.
• RD100 (Renewable Diesel) 100% renewable diesel that reduces CO2 emissions by 90% compared to ordinary diesel, commercialized in the Channel Islands.
• EcoHeat100 100% renewable heating oil (second-generation biofuel) manufactured from used cooking oils and residual fats, reducing CO2 emissions by 90% compared to standard gas oil without odor or fine particles.
• Aviation Fuel Supply Aircraft refueling services at airports with dedicated storage terminals, logistics management and security reserves.
• Marine Fuels and Biofuels Quality marine fuels and biofuels meeting strictest specifications for the shipping industry, supplied directly to vessels.
• Agrivoltaic Solutions Custom agrivoltaic projects combining agricultural production with photovoltaic installations, including semi-transparent panels for crop protection.
• Parking Canopy Solar (Ombrières) Solar parking canopy installations delivering renewable power generation for commercial and industrial clients while providing shaded parking.
• Renewstable (Green Hydrogen) Baseload renewable power solution combining solar PV with green hydrogen production and storage, developed through partnership with HDF Energy.

Quantifiable outcome

• 650,000 tonnes of bitumen distributed across Africa since 2015
• +4 more outcomes

Named customers7 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Five partnerships are on record, tiered core, potential and minor.

• Kenya AirwayscoreStrategic or Co-development Partner · 9 June 2026Rubis Énergie and Kenya Airways partnered to develop Africa's first refinery specializing in Sustainable Aviation Fuel (SAF), supporting decarbonization of aviation sector in Africa.
• Trafigura Group (Puma Energy)potentialStrategic or Co-development Partner · 1 April 2026Rubis SCA exploring potential combination with Trafigura Group's Puma Energy fuel retail business in cash and share deal potentially valued at up to €2.5 billion ($2.9 billion). Would expand Rubis geographic reach beyond Europe, Africa and Caribbean.
• Soleco EnergycoreStrategic or Co-development Partner · 1 June 2024Rubis Caribbean partnered with Soleco Energy, a Caribbean solar developer founded by former investment banker Angella Rainford, to accelerate deployment of photovoltaic installations for commercial and industrial customers in the Caribbean region including Jamaica, Cayman Islands and other island nations.
• Fruits Rouges & CominorStrategic or Co-development Partner · 1 January 2023Rubis Photosol partnered with Fruits Rouges & Co and Insolight for agrivoltaic project installing semi-transparent solar panels to protect fruit crops, with 20-year renewable energy purchase agreement. Reduces evapotranspiration, optimizes water use, fruits receive 'positive energy fruits' label.
• PhotosolcoreStrategic or Co-development Partner · 20 December 2021Rubis acquired 80% stake in Photosol, a French solar developer and independent leader in photovoltaic electricity production in France. Photosol develops ground-based solar parks, parking canopies and rooftop installations with expertise across the entire value chain from land securing to maintenance.

Scale indicators11 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Parkland Corporation: Parkland is a Canadian-based downstream fuel marketer and convenience retailer with international operations across the Americas and Caribbean, including fuel distribution, LPG, and station networks. Comparable mid-size multi-region downstream distributor.
• World Fuel Services: World Kinect (formerly World Fuel Services) is a global aviation, marine, and land fuel distributor serving commercial customers across 100+ countries. Comparable to Rubis's aviation fuel and marine fuel businesses with similar logistics-intensive B2B model.
• Neoen: Neoen is a French independent renewable energy producer developing and operating solar, wind, and storage assets across Europe, the Americas, and Africa. Most direct comparable to Rubis's Photosol subsidiary for renewable electricity production.
• Sunoco LP: Sunoco LP is a US-based master limited partnership focused on fuel distribution, terminals, and pipeline systems across North America. Comparable wholesale and terminal fuel distribution model to Rubis's logistics-intensive operations.
• Vivo Energy: Vivo Energy is the exclusive Shell licensee for fuels and lubricants in over 20 African markets, operating service stations, aviation fuel, LPG, and lubricants. Closely comparable to Rubis's African fuel retail and LPG footprint with a similar emerging-market distribution focus.
• Puma Energy (Trafigura Group): Puma Energy operates downstream fuel retail, storage terminals, and bitumen distribution across emerging markets in Africa, Latin America, and Asia. It is the closest direct comparable to Rubis's Energy Distribution segment and is reportedly the target of a potential €2.5B combination with Rubis.

Broad incumbents

• Eni SpA: Eni operates integrated downstream businesses including service stations (eni), bitumen (eni bitumi), LPG, biofuels, and Plenitude renewables. Broad incumbent with downstream distribution and renewable energy similar in structure to Rubis.
• BP plc: BP operates global downstream marketing and retail (Castrol, TravelCenters of America, ampm) plus renewable energy projects (Lightsource bp). Broad incumbent with downstream fuel distribution and renewables overlapping Rubis's portfolio.
• Shell plc: Shell operates one of the world's largest downstream fuel retail and lubricants networks (Shell V-Power, Shell stations) plus growing renewables. Broad incumbent in service stations, lubricants, and aviation/marine fuels.
• TotalEnergies: TotalEnergies operates a globally integrated downstream business including service stations, LPG (Butagaz), bitumen, lubricants, and renewables. Broad incumbent overlapping with Rubis across multiple energy distribution verticals but at vastly greater scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/rubis-energie

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries15 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A5 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Rubis