Mozambique: PetroSA, Petromoc, Consider Joint Downstream Opportunities
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Friday, 16 December 2011 |
PetroSA and Mozambique’s national oil company Petromoc are examining opportunities for joint investment in the downstream sector, including the possible leasing of Petromoc’s storage facilities to PetroSA. The two companies have signed an agreement establishing cooperation on oil trading and supply in southern Africa, part of what PetroSA described as “on-going efforts to realise its ambition to become a leading African energy company".
PetroSA’s Acting President and CEO, Yekani Tenza (pictured), said that the opportunity to do business in Mozambique was a key step for the company. "Mozambique offers PetroSA an important foothold into the Southern African Development Community (SADC) market," he remarked.
"Mozambique is well positioned in the SADC region. Given Petromoc´s extensive competitive advantages in the downstream arena, and especially its extensive storage capabilities, we believe that we can play a strategic role to strengthen and grow both companies," agreed Petromoc CEO Nuno De Oliviera.
PetroSA has recently concluded similar agreements with oil firms including Sinopec, the Korean National Oil Corporation, ENI and General Electric.
PetrolWorld 16122011
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