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Real Economy News in Real Time
R/€ = 16.15 Change: -0.02
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Petredec adds Oilco business to its portfolio

2nd December 2019 BY: Marleny Arnoldi
Creamer Media Online Writer

Energy distributor Petredec has acquired the wholesale and logistics divisions of independent Shell-branded fuels and lubricants distributor Oilco, which is based in KwaZulu-Natal.

Oilco has several depot operations between Durban and Empangeni.

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It operates a fleet of road tankers to service its own depots and delivers directly to customer sites.

The Oilco businesses are joining Petregaz, which is 50% owned by Petredec, as Petredec’s second venture in inland Southern Africa, with the fuels distribution business complementing the liquefied petroleum gas (LPG) operation and sharing many synergies.

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Considered together, the land-based distribution footprint covers stretches across South Africa, to Namibia in the west, Mozambique in the east and as far north as Zambia.

Petredec CE Giles Fearn said the company welcomes the Oilco team to the Petredec family and looks forward to providing a stable platform for the business to grow and achieve new levels of success to build on its long and proud history.

“The addition of the Oilco business to the group expands our presence in a region we already have a strong commitment to, as underlined by the soon-to-be inaugurated LPG import facility in Richards Bay and our investment in Petregaz LPG, South Africa’s largest LPG wholesaler.” 

EDITED BY: Chanel de Bruyn Creamer Media Senior Deputy Editor Online
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