PetroSA
Cape Town,
South Africa
http://www.petrosa.co.za
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Petro SA, registered as a commercial entity under South African law, is the national oil company of South Africa. As a subsidiary of the Central Energy Fund (CEF), it is wholly owned by the State and reports to the Department of Energy. The company’s core business activities include: The development of domestic refining and liquid fuels to logistical infrastructure; The participation in, and acquisition of, local as well as international upstream petroleum ventures; The marketing and trading of oil and petrochemicals; The exploration and production of oil and natural gas; The production of synthetic fuels from offshore gas at one of the world’s largest Gas-to-liquid refineries in Mossel Bay, South Africa. They operate the FA-EM, South Coast gas fields, and the Oribi and Oryx oil fields. The company also has exploration acreage outside of South Africa in Equatorilal Guinea and Namibia. Key commodities produced by PetroSA include kerosene (paraffin), propane, distillates, liquid oxygen and nitrogen, diesel, unleaded petrol, Eco-fuels and alcohols. Their vision for 2020 is to become a fully integrated, commercially competitive national oil company that supplies at least 25% of South Africa’s liquid fuel needs.
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"Hopeless Management and a Playground for Political Opportunists"
Added 28 May 2015 by a current employee
PetroSA is a fantastic company to earn good money, take no real responsibility, do no meaningful work, not worry about being managed and travel the world in the name of "development". The management team has destroyed the balance sheet by making risky decisions on all their liquidity and then leaving project delivery to contractors to complete without worrying about cost/risk/schedule. If you want to laze away in a German luxury car and mingle with the politically connected, its the place to be; but if you want a real job and aspire to add value to the world, please avoid it at all cost. It is not sustainable and like all other SOE in SA, it it doomed to collapse as soon as its oil/gas dries up / the tax payers catch on to this waste of public resources.
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"personal opinion"
Added 13 May 2015 by a current employee
I suspect that the gas is now finished. The venture was a gamble from the word go, there was no attempt to privatize the company before the change of government to the ANC. This leads me to believe that it was never a viable business. I suspect that PetroSA will now shut down!? There is talk about piping gas, shipping gas etc to Mossel Bay. I can't imagine what it will cost. If they really intend to keep going, perhaps they could convert to a crude oil refinery. At what cost? HUGE. So the company has been subsidised by us tax payers, since the beginning. Our share has been increasing, now we probably pay the lot!!
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PetroSA
