Beta Oil Buys Engen, Becoming the 1st Mauritian Group to Run the Fuel Grid

Beta Oil Terminal Ltd, a subsidiary of the Bhunjun Group, has completed the acquisition of Engen Petroleum (Mauritius) Limited, marking a historic moment as it becomes the first Mauritian group to own and operate a network of petrol stations in the local market.

The deal, which was finalised following approval from the Competition Commission, sees Beta Oil take control of 37 service stations and the entire distribution infrastructure previously owned by Engen in Mauritius.

Significance and Market Shift

The acquisition is a significant entry into a sector that has long been dominated by multinational corporations, including Vivo Energy (Shell licensee), TotalEnergies, and Indian Oil Corporation.

The company’s directors are named as Dinesh Kalikaparsad and Shivani Bhunjun.

Group’s Commitment and Vision

Veekram Bhunjun, Chief Executive Officer of the Bhunjun Group, highlighted the national pride and maturity demonstrated by local entrepreneurship.

“After 50 years of activity in various sectors in Mauritius, this acquisition marks a historic milestone for our group and for the country. We are today demonstrating that Mauritian entrepreneurship has reached the necessary maturity to compete with large-scale international operators. This is a source of national pride, but it is also a responsibility,” Mr. Bhunjun stated on Wednesday, November 12.

Beta Oil Terminal Ltd has pledged to maintain the “standards of excellence” established by Engen, while also introducing its “local agility and capacity for innovation.”

Smooth Transition Guaranteed

The company has guaranteed a seamless transition for all stakeholders:

• Employees: All positions, remuneration, and benefits for employees are secured and fully transferred under the new structure.
• Dealers/Concessionaires: Existing contracts, commercial terms, and supply arrangements remain unchanged.
• Commercial and Industrial Clients: Full continuity of supply is guaranteed with existing contractual agreements maintained.

Furthermore, the existing operational management team will remain in place to ensure stability during the transition period.

Source: Defi Media