African fuel marketer and distributor Vivo Energy has acquired a majority stake in Shell Ghana, a subsidiary of oil and gas explorer Royal Dutch Shell
Vivo Energy chief executive officer, Christian Chammas, said that shareholders of the company will invest US$250mn over the next three for the opening of 50 new fuel stations per annum across Africa.
Vivo Energy was set up in 2011 by Vitol, Helios Investment Partners and Royal Dutch Shell to market Shell-branded products and services across 16 countries in Africa.
The company operates 1,300 Shell-branded fuel stations and Shell and Vivo Energy own lubricant blending plants in Cote d’Ivoire, Ghana, Guinea, Kenya, Morocco, Tunisia and Senegal.
Vivo Energy Ghana managing director Fred Osoro said, “For our commercial customers, only the company name has changed. Our service stations will continue to operate with Shell-branded products and services.”
