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“This is a good deal for our customers as well as for Shell. We will significantly reduce
footprint, and continue to provide the high quality Shell products that our African
customers have come to trust and rely on over many decades, ” Mark Williams, Royal
Dutch Shell’s downstream director, said in a statement issued in Nairobi.
One Joint Venture will own and operate Shell’s existing oil products, distribution and
retailing businesses in 14 Africn countries, with the potential to add 5 more in future.
Vitol and Helios will hold 80% of the venture and Shell will hold the remaining 20%.
A separate company, which will be 50% owned by Shell and 50% by Vitol and Helios, will
own Shell’s existing lubricants blending plants in seven countries and will manage macro-
distributor relationships in each of the countries where the main venture operates,
plus a number of others. “We are delighted to have concluded this agreement with
Shell and Helios,” said Ian Taylor, President and CEO of the Vitol Group.
“Africa is a continent we know well. These two new ventures allow us to invest in
Africa and its fast-growing economies, and grow all the businesses under the umbrella
of the world-class Shell brand for the benefit of our customers.”
The deal covers existing Shell downstream businesses (Retail, Commercial Fuels,
Liquefied Petroleum Gas, Lubricants, Bitumen, Aviation and Marine) in Morocco,
Tunisia, Egypt (excluding lubricants), Cote d’Ivoire, Burkina Faso, Ghana, Senegal, Mali,
Guinea, Cape Verde, Kenya, Uganda, Madagascar and Mauritius.
Shell’s downstream businesses in Namibia, Botswana, Togo, Tanzania and La Reunion are
under review for potential inclusion in the deal at a later date.
“We are pleased to enter into this landmark agreement with our partners, Shell and
Vitol,” said Tope Lawani, Managing Partner of Helios Investment Partners. “We believe
that combining Vitol’s World class supply expertise and Helios’ deep understanding of
the African operating environment with the Shell brand and a highly professional
workforce will create significant new growth opportunities for the business, and will
ensure the continued supply of high quality products and services for African
consumers.”
Shell, Vitol and Helios will now concentrate on securing necessary regulatory approvals
and integration planning, ahead of a phased completion of the proposed deal during Y
2011 and 1-H of Y 2012.
Shell’s fuels, lubricants and refining activities in South Africa, the company’s lubricants
business in Egypt and its exploration and production businesses, LGN interests and most
international trading activities in Africa are not part the proposed deal
Shell announced Saturday it has agreed to divest the majority of its
shareholding in most of its downstream businesses in Africa to Vitol
and Helios Investment Partners for about US$1B.
Under the agreements, Shell will retain equity in 2 new Joint
Venture companies, which will assure continued availability of Shell
fuels and lubricants in 14 African countries under the Shell brand.
shareholding in most of its downstream businesses in Africa to Vitol
and Helios Investment Partners for about US$1B.
Under the agreements, Shell will retain equity in 2 new Joint
Venture companies, which will assure continued availability of Shell
fuels and lubricants in 14 African countries under the Shell brand.
Shell sells African downstream assets
This follows an announcement on Saturday that the oil firm has agreed to
divest the majority of its stake in most of its downstream businesses in Africa to
the two.
“Under the agreements, Shell will retain equity in two new joint venture
companies, which will assure continued availability of Shell fuels and lubricants
in 14 African countries under the Shell brand,” says a press released issued in
Nairobi.
This will see Shell holding a 20 per cent stake in one venture, which will own
and operate its existing oil products, distribution and retailing businesses in 14
African countries, with the potential of adding five more (countries) in the
future.
“Shell’s downstream businesses in Namibia, Botswana, Togo, Tanzania and La
Reunion are under review for potential inclusion in the deal at a later date,”
the statement added.
“We will significantly reduce our capital exposure in line with our strategy to
concentrate our global downstream footprint and continue to provide the high
quality Shell products that our African customers have come to trust and rely
on over many decades,” said Mr Mark Williams, Royal Dutch Shell’s downstream
director.
Four other oil transnationals have exited Kenya in the last few years including,
Agip, BP, Chevron (Caltex) and Mobil in the wake of fierce rivalry from
independent oil dealers.
It is worth noting, however, that Shell’s fuels, lubricants and refining activities
in South Africa, lubricants business in Egypt and its exploration and production
businesses, liquefied natural gas interests and most international trading
activities in Africa are not part the proposed deal.
“Africa is a continent we know well. These two new ventures allow us to invest
in Africa and its fast-growing economies, and grow all the businesses under the
umbrella of the world-class Shell brand for the benefit of our customers,” said
Mr Ian Taylor, president and CEO of the international oil trader, Vitol Group.
The statement was silent on Shell’s 2,500 workers who want their terms of
service safeguarded against any negative action by the new owners.
“We believe that combining Vitol’s world class supply expertise and Helios’
deep understanding of the African operating environment with the Shell brand
and a highly professional workforce will create significant new growth
opportunities for the business,” said Tope Lawani, managing partner of Helios
Investment Partners.
Shell, Vitol and Helios are spending the rest of this year working on the
necessary regulatory approvals and integration planning, ahead of a phased
completion of the proposed deal in the first half of 2012.
Currently, Shell, at 16.9 per cent, is third largest oil dealer in Kenya in terms of
market share after Total, 27.1 per cent and KenolKobil, at 18.3 per cent,
according the Petroleum Institute of East Africa statistics for 2010.
source; www.nation.co.ke
divest the majority of its stake in most of its downstream businesses in Africa to
the two.
“Under the agreements, Shell will retain equity in two new joint venture
companies, which will assure continued availability of Shell fuels and lubricants
in 14 African countries under the Shell brand,” says a press released issued in
Nairobi.
This will see Shell holding a 20 per cent stake in one venture, which will own
and operate its existing oil products, distribution and retailing businesses in 14
African countries, with the potential of adding five more (countries) in the
future.
“Shell’s downstream businesses in Namibia, Botswana, Togo, Tanzania and La
Reunion are under review for potential inclusion in the deal at a later date,”
the statement added.
“We will significantly reduce our capital exposure in line with our strategy to
concentrate our global downstream footprint and continue to provide the high
quality Shell products that our African customers have come to trust and rely
on over many decades,” said Mr Mark Williams, Royal Dutch Shell’s downstream
director.
Four other oil transnationals have exited Kenya in the last few years including,
Agip, BP, Chevron (Caltex) and Mobil in the wake of fierce rivalry from
independent oil dealers.
It is worth noting, however, that Shell’s fuels, lubricants and refining activities
in South Africa, lubricants business in Egypt and its exploration and production
businesses, liquefied natural gas interests and most international trading
activities in Africa are not part the proposed deal.
“Africa is a continent we know well. These two new ventures allow us to invest
in Africa and its fast-growing economies, and grow all the businesses under the
umbrella of the world-class Shell brand for the benefit of our customers,” said
Mr Ian Taylor, president and CEO of the international oil trader, Vitol Group.
The statement was silent on Shell’s 2,500 workers who want their terms of
service safeguarded against any negative action by the new owners.
“We believe that combining Vitol’s world class supply expertise and Helios’
deep understanding of the African operating environment with the Shell brand
and a highly professional workforce will create significant new growth
opportunities for the business,” said Tope Lawani, managing partner of Helios
Investment Partners.
Shell, Vitol and Helios are spending the rest of this year working on the
necessary regulatory approvals and integration planning, ahead of a phased
completion of the proposed deal in the first half of 2012.
Currently, Shell, at 16.9 per cent, is third largest oil dealer in Kenya in terms of
market share after Total, 27.1 per cent and KenolKobil, at 18.3 per cent,
according the Petroleum Institute of East Africa statistics for 2010.
source; www.nation.co.ke
Epoxy Oilserv Nigeria Limited
BP Plc and Statoil ASA (STL) led companies in winning the right to explore for oil and gas in pre-salt blocks in Angola that may be similar to fields found in Brazil.
BP, based in London, and Norway’s Statoil will each operate two blocks, said Manuel Vicente, chairman of Angola’s state- owned oil company Sonangol.
ConocoPhillips (COP) and Total SA (FP) will also run two blocks. Cobalt International Energy Inc. (CIE), ENI SpA (ENI), and Repsol YPF SA (REP) won the right to
operate one block each.
The fields, called pre-salt because they may hold oil trapped under a thick layer of salt, may mirror those across the Atlantic. The Lula field in Brazil’s pre-salt
basin was the biggest find in the Americas in more than three decades.
“The Angolan pre-salt is a frontier play with high potential, believed to be analogous to pre-salt Brazil,” Tim Dodson, Statoil’s vice-president for exploration, said
in a statement. “Early access to a multiple-block portfolio in exploring this new play gives Statoil exposure to significant upside potential should the play be
proven.”
China Sonangol International Ltd. joined in five blocks as a minority partner.
Sonangol said it will invest on an equal footing with its foreign partners. If commercial discoveries are made on blocks 19, 20, 22, 24, and 25, the operatorship
will be transferred to Sonangol after five years, or after eight years if multiple discoveries are made, the company said in a statement.
Cobalt, based in Houston, today reported evidence of hydrocarbons at its first well in the Cameia prospect in Angola, calling the result “encouraging,” and said
it’s doing further studies.
Diamond Offshore Drilling’s Ocean Confidence rig will begin drilling the first well in Angola’s Bicuar prospect once Cameia operations are done, it said today in a
statement.
As well as shareholdings in four blocks obtained in the latest licence round, BP said today it agreed to take a 40 percent stake in block 26 in the Benguela Basin
from Petroleo Brasiliero, which operates the block.
Below are the blocks licensed on the left, followed by the ownership stakes. The first company listed is the operator.
BP, based in London, and Norway’s Statoil will each operate two blocks, said Manuel Vicente, chairman of Angola’s state- owned oil company Sonangol.
ConocoPhillips (COP) and Total SA (FP) will also run two blocks. Cobalt International Energy Inc. (CIE), ENI SpA (ENI), and Repsol YPF SA (REP) won the right to
operate one block each.
The fields, called pre-salt because they may hold oil trapped under a thick layer of salt, may mirror those across the Atlantic. The Lula field in Brazil’s pre-salt
basin was the biggest find in the Americas in more than three decades.
“The Angolan pre-salt is a frontier play with high potential, believed to be analogous to pre-salt Brazil,” Tim Dodson, Statoil’s vice-president for exploration, said
in a statement. “Early access to a multiple-block portfolio in exploring this new play gives Statoil exposure to significant upside potential should the play be
proven.”
China Sonangol International Ltd. joined in five blocks as a minority partner.
Sonangol said it will invest on an equal footing with its foreign partners. If commercial discoveries are made on blocks 19, 20, 22, 24, and 25, the operatorship
will be transferred to Sonangol after five years, or after eight years if multiple discoveries are made, the company said in a statement.
Cobalt, based in Houston, today reported evidence of hydrocarbons at its first well in the Cameia prospect in Angola, calling the result “encouraging,” and said
it’s doing further studies.
Diamond Offshore Drilling’s Ocean Confidence rig will begin drilling the first well in Angola’s Bicuar prospect once Cameia operations are done, it said today in a
statement.
As well as shareholdings in four blocks obtained in the latest licence round, BP said today it agreed to take a 40 percent stake in block 26 in the Benguela Basin
from Petroleo Brasiliero, which operates the block.
Below are the blocks licensed on the left, followed by the ownership stakes. The first company listed is the operator.
BP, Statoil Win Angolan Blocks That May Be Similar to Brazil