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 · The Vitol group
Vitol — international oil trader awarded Namibia's bulk fuel supply contracts, currently under scrutiny over pricing and market concentration.
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The Namibian
Vitol admitted to bribing officials across three countries in December 2020
“In December 2020, the company admitted to bribing officials across three countries.”
Opposition demands answers on Vitol oil dealThe Namibian
Vitol holds a 70% stake in Validus Energy Namibia
“Records show that Vitol holds a 70% stake in Validus Energy Namibia, while Millennium Investments holds 30%.”
Vitol gets exclusivefuel supply deal for 3 monthsWindhoek Observer
Vitol was appointed as sole supplier of fuel to Namibia for three months
“In a letter dated 21 May 2026 and addressed to the Namibian Oil Industry Association (NOIA), industries, mines and energy minister Modestus Amutse informed industry players that the government had made what it described as emergency arrangements with Vitol, making the global commodity trader the sole supplier of fuel to Namibia for three months.”
Amutse puts all fuel eggs in Vitol’s basket …Govt burns through N$1bn to keep fuel prices downInformanté
Vitol was selected to provide Namibia's full fuel requirements at Basic Fuel Price without additional premiums
“According to the minister, several proposals were received from both local and international suppliers. However, Vitol's offer was selected because it met Namibia's full fuel requirements at the Basic Fuel Price without additional premiums and without requiring public funds.”
Namibia secures fuel without premiumsThe Namibian
Vitol agreed to supply fuel to Namibia without additional premiums
“Amutse said that Vitol had agreed to supply fuel to Namibia without additional premiums that have cost the country hundreds of millions of dollars since March.”
Namibia to buy fuel from only one supplierThe Namibian
Vitol is the parent company of Vivo Energy
“The competition commission allowed Nasan Energies to acquire the fuel stations in March, after it investigated potential links between Nasan and Vitol – a major oil trader that is the parent company of Vivo Energy.”
Sale of 52 service stations to Nasan Energies goes throughInformanté
Vitol is expanding operations to meet rising fuel demand
“Fuel suppliers, including Monjasa, Vitol, Peninsula, and Flex Commodities, are expanding operations to meet the rising demand.”
Namibia’s Walvis Bay benefits as ships avoid Middle East routesA fuel supply agreement with Vitol saved Namibia between N$400 million and N$700 million over four months (July–October 2026) by eliminating additional premiums that fuel importers normally add to the basic price, the Industries, Mines and Energy Minister announced on Friday.
11 hours ago · The Namibian →
A fuel supply agreement with Vitol saved Namibia between N$400 million and N$700 million over four months (July–October 2026) by eliminating additional premiums that fuel importers normally add to the basic price, the Industries, Mines and Energy Minister announced on Friday.
11 hours ago · The Namibian →
Real GDP expanded 4.8% year-on-year in the second quarter, driven by services growth of 6.1%, agriculture of 17.8%, and wholesale and retail trade of 9%, while mining contracted 3.1% with uranium down 12.0%. Headline inflation rose to 5.0% in August from 4.4% in July, with transport inflation reaching 13.2%, while the South African Reserve Bank raised its policy rate by 25 basis points.
3 October 2026 · Informanté →
Namibia's Ministry of Industries, Mines and Energy announced that Petrol 95 will increase by N$1.50 per litre to N$26.58 from 7 October 2026, while Diesel 50 ppm and Diesel 10 ppm prices remain unchanged at N$27.86 and N$27.96 per litre respectively. The decision followed a review of international oil prices, exchange rates, and import costs, with the ministry recording significant increases in international petroleum prices driven by geopolitical tensions and supply disruptions.
2 October 2026 · Informanté →
The Ministry of Industries, Mines and Energy announced that TotalEnergies has been selected as the sole supplier of Namibia's bulk petrol and diesel for November 2026 to January 2027. New oil player Nasan Energies, founded in late 2024 and majority-owned by Millennium Group chief executive Miguel Hamutenya, participated in the bidding round, while state-owned Namcor did not.
23 September 2026 · The Namibian →
TotalEnergies has been awarded a contract to supply Namibia with petrol and diesel from November 2026 to January 2027, offering discounts of 61 cents per litre on diesel and 71 cents on petrol against the Basic Fuel Price, with an estimated saving of N$220.5 million over the contract period covering approximately 345.3 million litres.
23 September 2026 · New Era →
Namibia has selected a TotalEnergies-led group to supply bulk petrol and diesel for three months from November to January, covering approximately 345 million litres with expected savings of about N$220.5 million through an average discount of 63.85 cents per litre.
22 September 2026 · Informanté →
TotalEnergies will supply all petroleum and diesel to Namibia from November 2026 to January 2027, offering discounts of 61 cents per litre on diesel and 71 cents per litre on petrol, saving the government approximately N$220.5 million over the three-month period.
21 September 2026 · The Namibian →
International oil trader Vitol, awarded sole rights to supply Namibia's fuel for three months, has demanded additional government compensation after supplying only 70% of expected volumes. The government has extended Vitol's supply rights for October as a "once-off final arrangement" that will not be renewed, though Pakote stressed this extension does not commit the government to pay for unsold fuel.
14 September 2026 · The Namibian →
The Independent Patriots for Change have flagged the government's decision to extend its emergency fuel supply agreement with Vitol Bahrain EC into October as raising procurement and transparency concerns. The opposition party calls on the Ministry of Industries, Mines and Energy to publicly disclose the cost of the extension, table the extension instrument in Parliament, and open a competitive tender for fuel suppliers from 1 November.
11 September 2026 · The Namibian →
International fuel trader Vitol will be the sole supplier of fuel to Namibia for October 2026, extending an interim arrangement that began in July intended to secure 100% of fuel requirements during international oil market volatility. The extension has drawn criticism from opposition figures for lack of transparency and open tender, with concerns that the emergency arrangement is becoming a procurement method.
11 September 2026 · The Namibian →
The Ministry of Mines and Energy defended its three-month fuel supply deal with Vitol, stating the jet fuel shortage affecting the country since last week results from a failed quality inspection of a Puma-Vivo fuel shipment, not the government arrangement which covers only petrol and diesel.
25 August 2026 · The Namibian →
The Ministry of Industries, Mines and Energy said Namibia's Jet A-1 aviation fuel shortage stems from a commercial arrangement between Puma Energy Namibia and Vivo Energy Namibia to swap fuel, not from government supply policy. A replacement consignment was quarantined at Walvis Bay for quality verification, causing the constraint, with replacement product expected to arrive Saturday.
25 August 2026 · Informanté →
A consignment of Jet A-1 aviation fuel that arrived at Walvis Bay failed routine testing, creating shortages at Windhoek airport. Passenger flights to Europe, including Discover Airlines services to Frankfurt and Munich, now require refueling stops in Luanda, Angola, under an emergency fuel supply arrangement with Vitol.
23 August 2026 · The Namibian →
The Namibia Competition Commission has objected to the proposed acquisition of Schwenk Namibia by West China Cement (Whale Rock Cement), based on stakeholder input and competition law concerns including market concentration.
28 July 2026 · The Namibian →
Minister of Industries, Mines and Energy Modestus Amutse has approved the merger between Nasan Energies and the divestiture business from Vivo Energy and Engen Namibia, while suspending enforcement of several conditions imposed by the Namibia Competition Commission. The decision follows a review application by Nasan Energies in April; the merger involved Nasan acquiring 52 Shell and Engen service stations divested as a competition remedy after Vivo Energy acquired Engen's downstream fuel business.
13 July 2026 · Windhoek Observer →
The Independent Patriots for Change has accused the government of weakening fuel-sector competition by suspending restrictions on Nasan Energies sourcing fuel from Vitol. The restrictions were imposed by the Namibian Competition Commission in April over concerns the deal would substantially lessen competition, but line minister Modestus Amutse suspended them under Section 49 of the Competition Act; IPC claims Vitol already controls between 75% and 85% of Namibia's wholesale fuel market.
8 July 2026 · The Namibian →
Namibia's energy minister has suspended competition commission conditions that prohibited Nasan Energies from buying fuel from Vitol for five years following its acquisition of 42 service stations from Vivo Energy in May. The suspension is temporary and attributed to concerns about the state's fuel import costs and the financial strain on the National Energy Fund.
6 July 2026 · The Namibian →
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.
2 July 2026 · The Namibian →
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.
16 June 2026 · Windhoek Observer →
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.
12 June 2026 · The Namibian →
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.
10 June 2026 · The Namibian →
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.
10 June 2026 · Informanté →
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.
10 June 2026 · The Namibian →
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.
9 June 2026 · The Namibian →
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.
7 June 2026 · The Namibian →
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.
7 June 2026 · The Namibian →
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.
4 June 2026 · Informanté →
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."
2 June 2026 · The Namibian →
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.
2 June 2026 · The Namibian →
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.
1 June 2026 · The Namibian →