Business News of Monday, 26 January 2015
Source: Vivo Energy Ghana
With reference to the online article published by the Ghanaweb with headline; Question: Shell to miss PCCA nominations over license threat?, we wish to correct the inaccuracies captured in the said article.;
Vivo Energy, the company behind the Shell brand in Africa, continues to operate lawfully and has the appropriate oil marketing company licence to operate in Ghana.
We remain committed to being the leading participant in Ghana’s downstream energy market and to being a significant contributor to the continued growth of the Ghanaian economy. In 2014 Vivo Energy invested heavily in Ghana, opening 24 new service stations across the country – more openings than in any of its other 15 countries across Africa.
As part of its license requirement Vivo Energy is required to divest 8% of its equity to Ghanaian entities in order to increase local ownership to 25%. Vivo Energy has been very proactive in finding a local investor to buy this share. We have a constructive and amicable relationship with the National Petroleum Authority and Ministry of Energy and Petroleum and have been working closely with both as we increase local ownership of the company.
Shirley Tony Kum
Corporate Communications Manager
VIVO Energy Ghana
High Street, Accra