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BusinessTech reports that Liquid Fuels Wholesalers Association of SA’s CEO, Peter Morgan, says Shell’s exit from SA is unlikely to lead to mass job cuts and the closure of its petrol stations.
According to Morgan, Shell would probably follow the same approach it took in other African countries. This would involve leaving a smaller sub-brand in the country, where it would retain a percentage of ownership in its petrol stations. Morgan pointed out that people did not need to worry because the company was not planning to shut down its retail network. This meant the roughly 600 forecourts and the jobs they provided were not immediately at risk, and the sites were not likely to close down entirely. Morgan explained that the smaller sub-brand, called Viva, would likely be 80% owned by any given partner, while Shell would retain 20%. “I’m not too concerned at all. We are not talking about losing jobs at petrol stations here,” he said. Following a worldwide review of its downstream and renewables business, the oil giant confirmed on 6 May its intentions to exit shareholdings in its SA retail, transport, and refining operations. The international oil giant has a significant presence in SA and has operated here since 1902. The Department of Mineral Resources and Energy has also granted it exploration rights in the country.
- Read the full original of the report in the above regard at BusinessTech
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