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Minister reassures petroleum industry at Vivo’s launch of new Shell Fuel Save diesel

Minister reassures petroleum industry at Vivo’s launch of new Shell Fuel Save diesel

“The industry will be required to become more innovative and introduce fuel products that are more fuel efficient and environmentally friendly,” said the Minister of Mines and Energy, Hon Tom Alweendo, when he launched Vivo Energy’s new Shell Fuel Save Diesel earlier this week.

“The new product being launched today is welcome in the Namibian market and I have no doubt that it will contribute to consumer choice and satisfaction. It is my hope that this product becomes a benchmark for quality and excellence in our downstream energy market place,” the minister continued.

The Shell Fuel Save Diesel introduction to the local market was attended by the Vivo Energy Group’s Executive Director for Retail and Marketing, Mr Polycarp Igathe, Vivo Energy Namibia’s Managing Director, Mr Edward Walugembe, and a group of Shell scientists and quality controllers who were responsible for developing the new diesel.

“Liquid fuels in general, and oil in particular are widely used in Namibia’s household and industrial sectors; with diesel and petrol the most used liquid fuels in the country, especially in the transport sector, equalling approximately 63% of Namibia’s total consumed energy,” stated Alweendo.

“Diesel is currently one of the most important commodities traded in our national fuel market. We use diesel products to run our industries ranging from transportation, agriculture, mining, and even the generation of electricity in some cases. This means, that the importance that this product plays in our economy and national development can not be overemphasized.”

“In terms of Diesel pricing, Namibian consumers would surely like to have access to products that are sourced and traded at competitive prices. It is because of this drive that the Government established a transparent cost-recovery pricing model for the fuel industry to ensure that fuel suppliers such as Vivo Energy Namibia are fairly compensated for their investments in the petroleum downstream sector,” stated the minister.

“I would like to re-assure all of our private sector companies operating in the fuel industry, irrespective of whether they are transporters, retailers, fuel storage depots or freight handlers, that the Ministry of Mines and Energy will continue to create a conducive environment,” he concluded.


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