Also known as: Vitol SA · Vitol Holdings · Vitol group · Vitol Bahrain · Vitol (SA) · Vitol South Africa · Swiss commodity trader Vitol · Swiss company · Vitol Bahrain E.C · Vitol Bahrain EC · international energy trader Vitol
Vitol — international oil and commodity trader awarded exclusive three-month fuel supply contracts to Namibia, facing scrutiny over procurement transparency and sector competition.
Vitolwas awardeda three-month fuel supply arrangement worth approximately N$7.2 billion
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“The government's decision to award a three-month fuel supply arrangement worth an estimated N$7.2 billion to international energy trader Vitol has intensified scrutiny of governance at state-owned oil company Namcor, which remains without a substantive managing director months after applications for the top position closed.”
Vitolwill have a single-supplier agreement runninguntil the end of September
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“Vitol's single-supplier agreement will run until the end of September, after which Amutse is expected to introduce new regulations for the bulk procurement of fuel.”
Vitolhave supplieda significant share of Namibia's fuel market through licensed local wholesalers
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“According to the minister, companies such as Vitol have long supplied a significant share of Namibia's fuel market through licensed local wholesalers, and continue to do so under existing arrangements.”
Vitolwas awardedan exclusive contract to supply Namibia with fuel for N$2.4 billion monthly
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“Former Namcor acting managing director Maureen Hinda-Mbuende has criticised the government's decision to award international oil trader Vitol through its subsidiary Vitol Bahrain E.C a N$7.2 billion deal to supply Namibia with fuel for three months.”
Vitolisa company dogged by bribery allegations in several countries
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“Last week, Amutse chose Swiss commodity trader Vitol, a company dogged by bribery allegations in several countries, to supply Namibia's entire fuel needs from June to August.”
Vitolhas been supplyingoil or petroleum products to Namibia for the last six months
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“"There is only one Vitol, having an administrative office in South Africa and registered as Vitol Bahrain, which has been supplying oil or petroleum products to Namibia for the last six months," he said.”
Vitolwas givenmandate to be sole supplier of fuel to Namibia for three months
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“THE Minister of Industries, Mines and Energy in Namibia, Modestus Amutse, has denied claims that Vitol Bahrain, a company which was given a mandate to be the sole supplier of fuel to Namibia for a period of three months, was illegally appointed.”
The government spent N$1.3 billion in two months to keep fuel prices low, draining the National Energy Fund to between N$200 million and N$300 million. Heavy spending began in April when international fuel costs rose, with the government paying N$805 million in April and N$490 million in May.
Why it matters
The National Energy Fund depletion to N$200–300 million after fuel price subsidies poses critical fiscal and economic risks for Namibia.
The government spent N$1.3 billion in two months to keep fuel prices low, draining the National Energy Fund to between N$200 million and N$300 million. Heavy spending began in April when international fuel costs rose, with the government paying N$805 million in April and N$490 million in May.
The government awarded a three-month fuel supply arrangement worth an estimated N$7.2 billion to international energy trader Vitol, intensifying scrutiny of governance at state-owned oil company Namcor, which lacks a substantive managing director. Critics claim Namcor submitted a cheaper proposal, raising questions about confidence in the company's operational capacity, though Namcor's board chairperson denied operating in a leadership vacuum.
Namcor says awarding Vitol a three-month fuel supply contract is "commercially beneficial" and aligned with national objectives, following concerns from parliamentarians and a former managing director that the deal sidelined the state oil company. Namcor cited working capital limitations and previous financial weaknesses requiring N$1.2 billion in government support in April 2024, and additional N$401 million in July and August 2025.
Energy minister Modestus Amutse told parliament that international oil trader Vitol was selected to supply fuel to Namibia for three months because it required no government guarantees, whereas state oil company Namcor and other bidders needed guarantees the government was unwilling to provide. Vitol will supply fuel at the basic fuel price the government calculates monthly.
Minister of Industries, Mines and Energy Modestus Amutse told Parliament that ongoing fuel reforms aim to eliminate additional "premium" charges paid by consumers and reduce fuel costs through a coordinated import framework. He clarified that the fuel supply chain involves international suppliers, licensed wholesalers, and retailers, and that "premium" charges have arisen from wholesalers' claims about securing fuel and supply security concerns.
The government faced criticism in the National Assembly for awarding Vitol Bahrain a N$7.2-billion emergency fuel contract while bypassing Namcor. Opposition and former officials raised concerns that the arrangement could jeopardise fuel security and undermine the downstream fuel sector's competitiveness, while the prime minister said Cabinet discussions on the matter are ongoing.
Former Namcor acting managing director Maureen Hinda-Mbuende has criticised the government's award of a N$7.2 billion three-month fuel supply contract to Vitol, saying the deal is "counter-productive and monopolistic" and will damage the downstream fuel sector's long-term competitiveness. Hinda-Mbuende claims Namcor offered a cheaper deal and that Vitol's ownership of Shell and Engen service stations creates conflicts of interest that could harm competitors.
Energy Minister Modestus Amutse granted Swiss commodity trader Vitol an exclusive mandate to supply Namibia's entire fuel needs from June to August under a contract valued at an estimated N$2.4 billion a month, raising concerns about fuel sector capture given Vitol's links to individuals connected to politicians and the decision's apparent circumvention of the Competition Commission's conditions on fuel sourcing.
International oil trader Vitol, which has been awarded a three-month sole fuel-supplier contract for Namibia, is a single company with multiple operational subsidiaries and offices, according to Minister Modestus Amutse. The clarification was made after confusion arose over which Vitol entity held the tender, with Amutse noting that Vitol has been supplying petroleum products to Namibia for the last six months.
Minister of Industries, Mines and Energy Modestus Amutse denied that Vitol Bahrain's appointment as sole fuel supplier to Namibia for three months was illegal, responding to AR leader Job Amupanda's claim that the arrangement violates the Petroleum Products and Energy Act, which requires fuel importers to hold a wholesale licence and be registered in Namibia.
Mathews Hamutenya has denied having political connections to State House or involvement in the government's decision to appoint Vitol as Namibia's sole fuel supplier, though his son recently bought 52 service stations and Hamutenya is a partner in a storage facility with Vitol. The Independent Patriots for Change have linked Hamutenya to what they describe as a "conglomerate at the centre of Namibia's petroleum oil takeover."
The Independent Patriots for Change has called on the energy ministry to explain why it awarded international oil trader Vitol a three-month exclusive fuel supply contract without competitive tender. Shadow minister Rodney Cloete questioned the lack of transparency, the full terms of the agreement including pricing, and cited Vitol's 2020 admission of bribery in three countries.
The Ministry of Industries, Mines and Energy has awarded Vitol an exclusive fuel supply contract for July to September, saying the company's offer to supply fuel at standard price without extra charges or public subsidy distinguished it from other bidders, whose proposals included additional conditions.
The Ministry of Industries, Mines and Energy has directed all fuel companies in Namibia to source petrol and diesel exclusively from Vitol between July and September 2026, citing emergency arrangements and the supplier's willingness to waive financial guarantees. Industry sources report that Vitol fuel is often more expensive than competitors', and the appointment has drawn scrutiny over procurement transparency and Vitol's history of allegations regarding substandard fuel supply.
The Ministry of Industries, Mines and Energy announced an emergency fuel supply arrangement with international energy company Vitol covering July to September 2026, stating it protects consumers from further price increases driven by Middle East geopolitical tensions. The government has committed more than N$1 billion to cushion consumers from rising fuel costs and maintain economic stability.
Namibia's minister of industries, mines and energy announced that fuel company Vitol will be the only fuel importer allowed to import fuel from July to September, after Vitol agreed to supply fuel without additional premiums that have cost the country hundreds of millions of dollars since March.
Vivo Energy Namibia has completed the sale of 52 Engen and Shell-branded service stations to Nasan Energies, fulfilling a regulatory commitment to the Namibian Competition Commission made as a condition of Vivo's May 2024 purchase of Engen Limited from Petronas.
Renthia Kaimbi Nasan Energies has appealed the Namibian Competition Commission's decision blocking the company from sourcing fuel from Vitol and related companies following its acquisition of 52 fuel stations. The company, represented by Ndaitwah Legal Practitioners, argues the conditions are too restrictive and has requested a five-year transitional period to build independent supply arrangements.
The Namibian Competition Commission approved Nasan Energies' acquisition of 52 service stations but barred the company from sourcing fuel from Vitol for five years to prevent monopoly concentration. Nasan has appealed the restriction and notified the energy minister of its intention to seek a review of the commission's conditions.
Shipping lines including Maersk, Hapag-Lloyd, and CMA CGM are rerouting vessels around the Cape of Good Hope to avoid Middle East conflicts, increasing demand for maritime fuel at Namibian ports like Walvis Bay and Lüderitz as key bunkering hubs along Africa's coastline.
The Namibian Competition Commission has approved Nasan Energies' acquisition of 52 Engen and Shell-branded service stations from Vivo Energy, positioning Nasan as the country's third-largest fuel retailer. The purchase was conditional on divestment to prevent monopolistic control, following concerns about potential connections between Nasan's co-founder Miguel Hamutenya and Vivo's parent company Vitol.
The Namibian Competition Commission has approved Nasan Energies, co-founded by Miguel Hamutenya, to acquire 53 service stations from Vivo Energy/Engen. The approval comes despite earlier objections over potential monopoly concerns related to possible ties between Nasan and Vitol, Vivo Energy's parent company.
Panduleni Itula, leader of the Independent Patriots for Change, presented evidence he says shows the president's family members hold interests across the oil and gas sector—including the president's son operating a diesel distribution business at Lüderitz port and the first gentleman serving as patron of a petroleum industry forum—and called on Parliament to reject a petroleum amendment bill that would transfer licensing authority to the Presidency.
President Nandi-Ndaitwah's two sons have rejected opposition leader Panduleni Itula's allegations that they are involved in Namibia's oil sector through their private businesses. The brothers, who operate a farming business and a logistics company respectively, issued a detailed rebuttal denying any interest in oil and characterizing Itula's claims as lies intended to discredit the first family.
President Nandi-Ndaitwah has challenged Independent Patriots for Change leader Panduleni Itula to provide empirical evidence linking her family to Namibia's upstream oil sector, reiterating her denial of direct or indirect interests. Itula held his third oil-related press conference in less than three weeks, presenting what he termed documented evidence of a systematic network involving the president's sons and husband across the petroleum value chain, including fuel imports, distribution, and investments.
The Namibian Competition Commission is investigating whether Nasan Energies' acquisition of 53 service stations from Vivo Energy violates divestiture conditions meant to prevent market dominance, citing alleged connections between Nasan co-founder Miguel Hamutenya and Vitol, Vivo's major shareholder. NaCC preliminary findings warn the deal could result in a combined market share of about 70%, contrary to the regulator's requirement that the buyer be independent with less than 10% market share.