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BEE deal on fuel distribution depot
KZN Oils, a 100% Black-owned company has purchased the Empangeni fuel distribution depot and all the assets and operations associated with the depot from Chevron South Africa, in line with the global optimisation strategy of the oil company. KZN Oils will take.
Chevron, reportedly the world's fifth largest energy company, markets its products in South Africa under the Caltex brand. James Seutloadi, chair of Chevron South Africa, said, "KZN Oils is one of our valued distributors and we have been doing business with it for over eight years."
"Chevron plays an increasingly important role in our business by supplying us with a range of petroleum products such as petrol, diesel and lubricants. With our purchase of the Empangeni depot, we now own a key infrastructure in the liquid fuels supply chain. The acquisition of this bulk fuel storage depot significantly boosts our ability to compete in the KZN coastal market," adds KZN Oils CEO, Rajen Reddy. "We continue to see Chevron as a strategic partner in our ongoing quest to be the leading non-refining petroleum company in South Africa."
