Nasan Energies has officially taken ownership of a portfolio of Engen and Shell-branded fuel service stations in Namibia following the completion of a divestment process required by competition regulators.
The transaction, announced on Thursday, follows approval by the Namibian Competition Commission and marks the final step in Vivo Energy Namibia’s compliance with conditions attached to its acquisition of Engen Limited from Petronas in May 2024.
Under the deal, Nasan Energies is now the owner and operator of the divested service stations, taking over responsibility for fuel supply, customer service and site management with immediate effect.
Vivo Energy Namibia Managing Director Johan Grobbelaar said the completion of the transaction fulfilled commitments made to regulators and the Namibian market.
“Completion of this transaction represents the fulfilment of our regulatory commitment to the Namibian Competition Commission and to the people of Namibia. We have worked closely and collaboratively with the Nasan Energies team over recent months to ensure the smoothest possible transition at these sites. We wish Nasan Energies every success as they take ownership and build on the strong foundations that have been established at these stations,” Grobbelaar said.
The divestment process was first announced on 17 September 2025, following the Competition Commission’s requirement that Vivo Energy dispose of certain assets to preserve competition in Namibia’s fuel retail market following the Engen acquisition.
The deal represents a significant milestone for Nasan Energies, which describes itself as one of Namibia’s first major oil marketing companies, a privately owned, locally founded company.
Nasan Energies co-founder Miguel Hamutenya said the company had assumed full operational responsibility for the service stations and was ready to compete in the market.
“Today marks an important milestone for Nasan Energies. Nasan Energies is proud to stand as one of Namibia’s first privately owned, locally founded major oil marketing companies. We have taken full ownership and operational responsibility for these service stations and are committed to delivering the highest standards of service and reliability to our customers from day one,” Hamutenya said.
“We thank Vivo Energy for their partnership and professionalism throughout this process. Nasan Energies is open for business, and we look forward to serving our communities,” he added.
The transition will see Shell-branded service stations gradually debranded, while Engen-branded sites will continue operating under the Engen identity for a temporary period in accordance with the transaction agreement.
Over time, all the acquired sites will be progressively rebranded under the Nasan Energies banner.
The completion of the transaction introduces a stronger locally owned player into Namibia’s fuel retail sector. It concludes one of the country’s most significant competition-related divestment processes in recent years.
Vivo Energy operates and markets Shell-branded fuels and lubricants across much of Africa and became the owner of Engen following its acquisition of the South African fuel retailer from Malaysian energy company Petronas in 2024.
Competition authorities in several jurisdictions, including Namibia, required the disposal of selected service stations to prevent excessive market concentration and maintain competition in the downstream fuel sector. The divested Namibian sites were subsequently earmarked for acquisition by Nasan Energies as part of a transaction announced in September 2025.
