Multinational oil and gas company, Shell, is in talks with Engen to acquire its Rwandan assets. A move that would see the global firm join the league of 20 active players in the country.Rwanda
Royal Dutch Shell plc, through its African operation, Vivo Energy, has passed the first stage of discussions to acquire all Engen operations, including its service stations in Rwanda. Engen Rwandan talks follow Vivo Energy’s acquisition of Engen Oil’s assets in South Africa and 9 other African countries.
Vivo Energy — a joint venture between Vitol Group, Shell Plc and London-based Helios Investment Partners — distributes and markets Shell-branded fuels and lubricants.
Upon acquisition, over 300 Engen-branded service stations will be added to Vivo Energy’s network, taking Vivo Energy’s total presence to over 2,100 service stations across 24 African markets. Engen Holdings, however, still retains its businesses in six other countries including Mauritius, Botswana, Ghana, Namibia, Swaziland and Lesotho, which Shell has not acquired yet.
Previously, Shell operated in Rwanda under Shell Rwanda SARL, a retail network of 17 sites, a fuel and lubricants business and a fuel storage depot under a long-term lease with the government. In 2005, the Dutch company sold off Rwanda SARL to Kenya Oil Company Limited (KENOL).