Shell Finalizes Sale of Ethiopian Downstream Assets to OiLibya
Monday, December 01, 2008 9:56 AM
(Source: Datamonitor)
Shell has exited the Ethiopian fuel market after finalizing a purchase and sale agreement with Libya Oil Holding, according to Petrol Plaza.
Shell Ethiopia has been active in the country for the past 60 years. The re-branding of the 201 Shell retail outlets in Ethiopia to Libya Oil (OiLibya) is expected to be completed in the next six months.
Shell Ethiopia’s 142 employees have been retained by OiLibya and the Libyan oil company has pledged a 15% increase in pay for all the employees as of January 2009.
A service of YellowBrix, Inc.
A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
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