Shell sells in Africa
As Shell continues to consolidate its business, it has announced the potential sale of its retail and distribution units across 19 African countries.
The oil giant is currently in talks with the world's largest independent energy trading company, Vitol Group, along with pan-African private equity invesment company Helios Investment Partners regarding the deal.
Shell has stated that it is now in exclusive talks with the two organisations and would position Vitol in the end-user oil market for the first time. Shell assets in the 19 countries, which include Morocco, Egypt, Ghana, Kenya, Namibia and Uganda, involves 1,350 retail sites alone, employing some 2,500 staff
Vitol, with income of around $143bn in 2009, trades more than 5.5 million barrels of crude and oil products daily and has recently expanded into LNG, coal power and carbon emissions trading globally.
The terms of the deal are likely to see Shell retain a minority shareholding in the African business and retention of the Shell brand.
