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Business News of Friday, 15 August 2008

Source: GNA

Shell introduces new diesel

Accra, Aug. 15, GNA- Shell Oil Ghana Limited has introduced a new diesel product unto the Ghanaian market known as "Shell Diesel Extra". The new product, developed by 3,000 scientists working at Shell research laboratories in seven countries globally, is an exclusive formulation designed to give the engine extra protection with no extra cost to motorists. Besides, the new product also keeps the engine clean and prevents deposits from clogging fuel injectors, which can affect the overall efficiency of the engine.

Mr Felix Owusu-Adjapong, Minister of Energy, speaking at the launch said a nation's development was closely tied to the level of development of its energy sector and the quality of its transport system. He said the introduction of Shell Diesel Extra signified an important milestone, which fulfilled the needs and demands of a significant proportion of the motoring public and businesses including manufacturing, construction and mining sectors. Mr Owusu-Adjapong said the government had deregulated the petroleum industry to enable the private sector to exploit the associated opportunities.

He said government's wish to derive maximum value for the business sector, the citizenry and the motoring public had been at the core of its policy to promote healthy competition within the energy provision marketplace.

This was because that was a sure formula to safeguard consumer interests as well as to induce and encourage improvements in the general standards of service delivery in the industry. He applauded the various oil marketing companies for expressing and maintaining their commitment to bring quality energy resources to the doorsteps of the motoring public and business enterprises. Mr Owusu-Adjapong also expressed delight about the effort of Oil Marketing Companies in partnering government with significant investments in the physical infrastructure, technological innovations and impressive networks of fuel stations and outlets. He said Shell's recent introduction of their premium fuel, Shell V-Power, had brought dynamism into the fuel sector and made it more competitive with the primary beneficiary being the consumer. "I am very delighted to see that just after one year of this laudable step taken by Shell Ghana for its petrol customers, the company has moved forward to formulate another differentiated product Shell Diesel Extra for its diesel customers."

Mr Daniel Numo, Country Chairman of Shell Ghana Limited, said the Shell Diesel Extra was a mainstream diesel fuel grade, formulated with unique Shell additives to protect engines at no extra cost. He said the launch of Shell Diesel Extra was driven by both the favourable investment climate prevailing in the industry and the constant demand from customers requiring higher quality products to meet the Original Equipment Manufacturers (OEM) specification for a wide range of high performance diesel vehicles and earth moving equipment. Mr Numo said the vehicle population in Ghana was estimated to be growing at around seven per cent a year and reaching a population of over 900,000 vehicles.

He said the car population was also improving and getting newer, putting pressure on users, thus making the choice of fuel a critical decision to ensure the efficient running and performance of diesel engine vehicles. 15 Aug. 08