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  • PETRONAS Completes Transaction on Engen
    édité le 22/05/2024 - Plus de news de "Petronas" - Voir la fiche entreprise de "Petronas"

PETRONAS Completes Transaction on Engen
PETRONAS has completed the transaction of its 74 percent stake in Engen Limited to Vivo Energy following the approval obtained from the Competition Tribunal of South Africa, which will see Vivo Energy as the new major shareholder of Engen.

Being part of a multinational parent company, Vitol, and with a strong foothold in Africa’s energy sector, Vivo Energy is able to steer Engen through its next phase of growth.

The Phembani Group, PETRONAS’ long-standing partner in Africa and Engen’s Broad-Based Black Economic Empowerment shareholder, will remain a shareholder in Engen alongside Vivo Energy.

PETRONAS first acquired shares in Engen in 1996 and became its majority shareholder in 1998. Engen’s primary business is in the marketing of petroleum, lubricants and functional fluids, chemicals and retail convenience services.

Engen has a large retail footprint of around 1,300 service stations across seven countries in sub-Saharan Africa and the Indian Ocean Islands.

About Petronas

Established in 1974, Petroliam Nasional Berhad (PETRONAS) is a global energy and solutions company, ranked amongst the largest corporations on Fortune Global 500®️. As an integrated global LNG producer with over 37 years of experience, PETRONAS provides an uninterrupted supply of LNG to more than 25 countries around the world. PETRONAS has safely delivered more than 11,000 cargoes globally, sourced from its portfolio of facilities located in Malaysia, Australia and Egypt.

About the Vivo Energy Group

The Vivo Energy Group operates and markets its products in countries across North, West, East and Southern Africa. The newly extended Group has a network of over 3,900 service stations in 28 markets operating under the Engen and Shell brands and exports lubricants to a number of other African countries. Its retail offering includes fuels, lubricants, card services, convenience stores, restaurants, and other non-fuel services. It provides fuels, lubricants, liquefied petroleum gas (LPG) and chemicals to business customers across a range of sectors including marine, aviation, mining, construction, power, transport, agriculture and manufacturing. It is continuing to develop innovative energy solutions to enhance sustainability.

The Company employs around 6,000 people and has access to over 2.1 billion litres of fuel storage capacity.

About Engen

Engen is an oil company focusing on the downstream refined petroleum products market and related businesses, with a presence across Sub Saharan Africa and the Indian Ocean Islands. The company’s core functions are the refining of crude oil, the marketing of primary refined petroleum products and the provision of convenience services via an extensive retail network.

Origine : Communiqué Petronas

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