Total South Africa announced plans to grow its fuel retail business in South Africa, as well as resume drilling in South Africa’s first deepwater well by the end of this year or first quarter of 2019, after suspending operations in 2014 because of strong currents.
“In retail, we clearly want to grow and to grow by 200 to 300 service stations in the coming few years,” Pierre-Yves Sachet, managing director and chief executive officer for Total South Africa, said. “The intensity of our footprint is not exactly the one we would like to have yet.”
With a portfolio of 547 petrol stations located throughout South Africa, the company is a key player in the country’s petrochemical market, with products ranging from jet fuel, liquid petroleum gas to lubricants, greases and kerosene. Market leader Sasol Ltd. currently has about 4,600 outlets.
Total, which owns 36% of the 108,000-barrel-a-day Natref refinery in a joint venture with Sasol, said it plans to open 20 new retail outlets this year and is considering partnerships to boost its retail presence.
French oil major Total pumped a record amount of oil and gas in the first quarter and expects output to grow by more than six percent this year due to acquisitions and new projects from the Arctic to West Africa.