Sasol could buy 200 petrol stations in expansion drive
Sasol said it would look to expand its service-station business to better match its production of fuel in SA. Sasol could acquire as many as 200 outlets to add to its network of 400 stations, according to co-CEO Steve Cornell and Bongani Nqwababa. It could also provide branding to other petrol stations, they said. "We feel like we’re giving away margin, not matching our retail capacity closer to our actual production capacity," Cornell said in an interview at the company’s headquarters in Johannesburg. While the world’s largest maker of fuel from coal produces about 30% of SA’s supply, only about a third of that is sold through Sasol retail stations, according to Nqwababa. The strategy shift comes after Glencore purchased a controlling stake in Chevron’s Southern Africa business, which includes more than 800 petrol stations.
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