Vivo Energy Acquires Majority Stake In Shell Ghana

Fred OsoroVivo Energy, an oil marketing and distribution firm, has announced its acquisition of majority shares in Shell Ghana Limited.
This is the latest development in a venture initially announced in February 2011.  It brings to 15 the number of African markets in which Vivo Energy has a presence.

A statement issued by management of Vivo Energy said, the company, which will be renamed Vivo Energy Ghana, will be headed by Fred Osoro as Managing Director. 

He will take over from Vincent Richter, the former acting Managing Director. Mr Osoro has 20 years experience in the energy industry during which he has held various management and marketing positions for Esso, Mobil and Engen, including Managing Director for Engen Ghana and Nigeria.

His appointment to the Board will be formalised at the next Board meeting, the statement signed by Marjolein van Kampen, Corporate Communication Director of Vivo Energy, said.

Christian Chammas, CEO of Vivo Energy, said: “Ghana is an important market and a growing economy which is set to benefit from significant developments in the energy sector.

“We are acquiring a business with great potential; a long history in Ghana, a high calibre workforce and a large and diversified customer base.”   Vivo Energy, he said, was looking forward to serving customers in Ghana and investing in the business, to ensure it realised its full potential under Fred Osoro’s leadership.”

It was formed by Vitol, Helios Investment Partners and Shell to distribute and market Shell-branded fuels and lubricants across Africa.
Vivo Energy Ghana employs 134 people but the business provides indirect employment to over 1,000 people.

The company is recognised as the leader in the oil industry especially championing and setting standards for safety in sales and distribution.

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