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Home > Home > Shell leaves Zim, Engen takes over

Shell leaves Zim, Engen takes over


Nyasha Matema

Sat, 12 Jul 2008 11:51:00 +0000



ANGLO-DUTCH oil giant Royal Dutch Shell Plc. has pulled out of Zimbabwe as South Africa's Engen Petroleum buys the 50 percent stake in a joint venture with British Petroleum.

 

According to the economic magazine Business Day Engen is taking over Shell's portion of a joint venture with British Petroleum for an undisclosed amount.

 

"We do not get involved in the politics," Engen spokeswoman Tania Landsberg told Business Day adding that they had taken a long-term view of the Zimbabwean situation. "We believe that, in the long term, this is a good deal. We believe that Zimbabwe will recover."

 

Engen is said to be owned by a Malaysian oil company Petronas (80%) and black economic empowerment group Worldwide Africa Investment Holdings (20%).

 

This news comes at a time when President Robert Mugabe has taunted Gordon Brown over the suggestion that British companies will have to reconsider doing business in Zimbabwe.  

 

"The British are threatening to withdraw their companies," President Mugabe said. "We say: The sooner you do it the better.

 

"Please Mr Brown, withdraw all your companies from Zimbabwe."

 

President Mugabe adopted a Look East policy five years ago which seeks to court investors from Asian countries like China and Malaysia.




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ARTICLE ATTACHMENTS

READER OPINIONS

Jairos Tapfuma • cdetapfuma@yahoo.com
Subject: Who cares??
Mon, 14 Jul 2008 07:35:13
• Who ever said that only British companies make life better? Please Gordon Brown taking everything British from Zimbabwe and go forever! We can do without Britain, Britain is NOT the internatuional world. Why should we be fearful of the withdrawal of a retailer? Anyone can retail. There nothing big here. Those with vision and not racist will see it fit to invest in Zimbabwe. Gordon, we have been taught to be free and independent. We have been taught by Mugabe Robert to also create wealth and be proud of who we are. Proud blacks. Why should our lives be determined by Britain, Britain and Britain alone. We will chart our own destiny, of course with bonafide world partners! Viva Zimbabwe, Viva Mugabe! I see Mugabe as the next UN SG.


Changamire Dombo • ChangamireDombo@rocketmail.com
Subject: Go well, Go Shell
Sun, 13 Jul 2008 19:25:22
• ... and even to Business Hell!


Changamire Dombo • ChangamireDombo@rocketmail.com
Subject: The Fuel Business
Sun, 13 Jul 2008 18:26:19
• In a Global Economy, he who dares invests and wins.

Shell has pulled out and not pulled the plug, so, other interested players can gladly get on board and do business.

Space created as such is space worth utilising if you have vision.

Look at it this way, Shell pulled out not because the investment was bad, only the politics which they are being forced not to agree with.

One thing is, we saw that one coming (Vakanyangira yaona!) It started with BA didn't it? And, yet still Zimbos keep flying! Kutyei!!!???

That definitely doesn't make anyone lose sleep over, it could actually turn out to be a blessing in disguise for my countrymen.

Welcome Engen or Petronas, whatever the case maybe. Tinodawo mafuta chete, keep the fuel flowing.

Ini ndatogadzirira ku-parker chikochikari wena.


Omugabe • Dziva@sanandresano.com
Subject: Look Inward & Look East for Self-development, Zim Patriots!
Sun, 13 Jul 2008 15:11:27
• Good riddance to bad rubbish!

Who needs to have a racist, destructive enemy in his midst?

The Nigerians have to be fighting in the Delta region; because the evil European continue to plunder their ancestral resources and rubbish the environment.

The Africans of the Nigerian Delta have their agricultural lands, water and air polluted by the beastly brits who plunder the place like wild beasts.
This is not the behavior of a friend or even a good business partner? This is the work of a devilish lot, who have historically shown that they hate Africans with a vengeance!

Away with the European ENEMIES.
'Look Inward' & Look East.
Shun the wicked West, the land of Africans' historical enemies.


n/a • n/a
Subject: n/a
Sun, 13 Jul 2008 09:54:00
• The quicker they go the better for Zimbabwe.We don't need them in as much as they don't need us.Zimbabwe is no place for dirty village bullies and their businesses.We may be poor, but certainly we do cherish our free space and we will develop it, even if it takes us another hundred years.


Omuhle • n/a
Subject: n/a
Sat, 12 Jul 2008 17:14:54
• This is political posturing by Engen. Let's see the fuel situation on the ground changing, let's see fuel becoming freely available to the ordinary man. We don't expect anything to change. As soon as Engen get into Zim and see the conditions they have to work with - government price freezes, high transportation costs and taxation levels they will change their mind or indeed as they said wait for conditions to change before beginning to trade
I found the comment that they don't do politics most disturbing and shows the cold heartless people they are. People have died in Zimbabwe during this 8 year standoff. No matter who is to blame and if it is a philosophical or ideological tussle between 2 or more political entities, it has still led to deaths and they have the greedy, uncalculating nerve of a typical multinational company to say they don't do politics....


Chief Negomo • chiefnegomo@yahoo.com
Subject: SHELL
Sat, 12 Jul 2008 16:37:46
• After all,shell do not produce oil at all.Those who will heed the call by their sinful govts,let them do so at their own peril and who cares.Engen has been doing very well as of late



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