Vitol Launches Viva Energy, Expands operations in Australia

by Ship & Bunker News Team
Wednesday August 13, 2014

The Vitol Group today announced in an emailed statement is has launched Viva Energy Australia (Viva Energy) following the completion of its acquisition of Shell's Australian downstream business.

Viva Energy will be the exclusive distributor of Shell branded fuels and lubricants in Australia.

The deal, previously announced in February 2014 and valued at A$2.9 billion (US$2.6 billion), sees Viva Energy with Shell's Geelong refinery and 870-site retail business, along with its bulk fuels, bitumen, chemicals, and part of its lubricants businesses in Australia.

"We have served customers in Australia for over 110 years and I'm delighted to be leading this business for the next phase of its development as Viva Energy Australia," said Scott Wyatt, CEO of Viva Energy.

"We expect to invest $1 billion over the next five years so we can continue to meet more than a quarter of Australia's fuel needs efficiently and safely.

"Our customers will continue to benefit from Shell's investment in R&D and the high level of service they have come to expect of us."

In February 2011 Vitol also acquired Shell's downstream assets in Africa, creating Vivo Energy, a joint venture between Vitol (40%), Helios Investment Partners (40%) and Shell (20%).

In March oil trader Vitol Group reported its revenue and volumes were up in 2013 despite a "very challenging" year.