South Africa Petroleum Market Report 2024: Fuel Retail Revenue Has Been Boosted By Higher Petroleum Prices, But Local Consumption Of Petroleum Products Has Been Declining

(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Aug. 13, 2024 (GLOBE NEWSWIRE) -- The "Petroleum industry in South Africa 2024" report has been added to ResearchAndMarkets.com's offering.

This report on the petroleum industry in South Africa includes comprehensive information on supply, refining, crude oil storage reserves, and the distribution and retail of petroleum products, including lubricants, LPG, LNG and biofuels. There is information on the size of the industry in terms of production and consumption, pipeline transportation, wholesale and retail, and the state of the industry, including the effect of refinery closures, pricing and policy, new projects, divestment and government's plans to revive the industry.

There are profiles of 65 companies including major multinationals such as Engen, BP and TotalEnergies, major local player Sasol, state-owned companies such as PetroSA, refineries including Natref, blenders such as Blendcor and gas companies such as LPG distributor Easigas and Egoli Gas

South Africa's oil and gas refinery capacity has halved in the past four years, forcing the country into dependence on refined product imports when crude oil and natural gas prices are high. Refinery closures saw manufacturing revenue decline to 2017 levels.

Fuel retail revenue has been boosted by higher petroleum prices, but local consumption of petroleum products has been declining. There is substantial change in the industry as a series of companies have divested and the government implements plans to revive idle capacity.

Key Market Trends

• A raft of legislative changes are being introduced to accelerate transformation and facilitate oil and gas exploration and production, and strengthen the role of the state in the country's energy security.
• A significant number of hydrogen, nitrogen and ammonia products have been initiated.
• A substantial projects pipeline has developed, especially for the development, commercialisation and international trade of natural gas.
• Divestment by a number of international companies.
• Fuel prices have risen rapidly since 2021, exacerbated by the exchange rate.
• Government hopes to restore local refinery capacity by restarting the gas-to-liquids refinery in Mossel Bay and the Sapref refinery in Durban.
• PetroSA posted net profits in 2023 for the first time since 2015.
• South Africa has lost half its refinery capacity in the past four years.

Market Opportunities

• Government is looking to develop LNG supply for industrial heating, electricity generation, and liquid fuels production.
• Regulatory changes are facilitating private sector investment in oil and gas exploration and production.
• Shell's downstream divestment possibly creates opportunity for new petroleum wholesalers and retailers to enter the market.

Market Challenges

• Fuel prices remain unaffordable causing a decline in consumption.
• The development of the gas industry remains beset by outdated gas policy, high gas prices, and insecurity of supply.
• The lack of refinery capacity leaves the country highly exposed to imports.
• The onerous costs of upgrading refineries to meet new environmental standards which are to be implemented from 2027.

Market Outlook

• The loss of localised oil and gas refinery capacity in recent years has threatened South Africa's energy security and left the country vulnerable to price dynamics, making vital transport and heating products unaffordable.
• Efforts to confront the challenge have been hampered by the need for regulatory change and coherent energy policies.
• Regulatory developments include a new draft of the Integrated Energy Plan, a draft Gas Master Plan, and progress in the formulation of a new state petroleum company.
• Global shocks are influencing international price and trade dynamics less than previously.
• There is progress in natural gas and green hydrogen production projects.
• Significant investments have been initiated for the storage and trade of liquefied natural gas and liquefied petroleum gas.

Key Topics Covered:

1. INTRODUCTION

2. DESCRIPTION OF THE INDUSTRY
2.1. Industry Value Chain
2.2. Geographic Position
2.3. Size of the Industry
3. LOCAL
3.1. State of the Industry
3.2. Key Trends
3.3. Key Issues
3.4. Notable Players
3.5. Trade
3.6. Corporate Actions
3.7. Regulations
3.8. Enterprise Development and Social Development

4. AFRICA

5. INTERNATIONAL

6. INFLUENCING FACTORS
6.1. Unforeseen Events
6.2. Economic Environment
6.3. Labour
6.4. Environmental Issues
6.5. Technology, R&D, Innovation
6.6. Government Support
6.7. Prices
7. COMPETITIVE ENVIRONMENT
7.1. Competition
7.2. Ownership Structure of the Industry
7.3. Barriers to Entry

8. INDUSTRY SUMMARY

9. OUTLOOK

10. INDUSTRY ASSOCIATIONS

Company Profiles - Processors, Wholesalers And Retailers

• African Group Lubricants (Pty) Ltd
• African Oxygen (Pty) Ltd
• Astron Energy (Pty) Ltd
• Avedia Energy (Pty) Ltd
• Blendcor (Pty) Ltd
• Blue Chip Lubricants (Pty) Ltd
• BP Southern Africa (Pty) Ltd
• Deojay Petroleum KZN (Pty) Ltd
• Diesel Supply Logistics (Pty) Ltd
• Easigas (Pty) Ltd
• Econ Oil And Energy (Pty) Ltd
• Efora Energy Ltd
• Elegant Fuel (Pty) Ltd
• Engen Petroleum (Pty) Ltd
• FPS Bulk Diesel (Pty) Ltd
• Fuchs Lubricants South Africa (Pty) Ltd
• G U D Holdings (Pty) Ltd
• Germ Africa (Pty) Ltd
• Gulfstream Energy (Pty) Ltd
• Hammertone Fuels (Pty) Ltd
• Handr South Africa (Pty) Ltd
• Makwande Energy Trading (Pty) Ltd
• Masana Petroleum Solutions (Pty) Ltd
• Mdubane Energy Services (Pty) Ltd
• Motolube (Pty) Ltd
• National Petroleum Refiners Of South Africa (Pty) Ltd
• Omnia Holdings Ltd
• Oryx Gas South Africa (Pty) Ltd
• Petredec LPG South Africa (Pty) Ltd
• Petrefuel (Pty) Ltd
• Petregaz South Africa (Pty) Ltd
• Petroleum Marketing Organization (Pty) Ltd
• Petroleum Oil And Gas Corporation Of South Africa SOC Ltd (The)
• Piston Power Chemicals (Pty) Ltd
• Primagas CC
• Puma Energy South Africa (Pty) Ltd
• Q4 Fuel (Pty) Ltd
• Quantum Energy CC
• Royale Energy (Pty) Ltd
• Sasol South Africa Ltd
• Sebokeng Fuels (Pty) Ltd
• Shell And BP South African Petroleum Refineries (Pty) Ltd
• Shell Downstream South Africa (Pty) Ltd
• SLG (Pty) Ltd
• Spanjaard (Pty) Ltd
• Sunbird Energy Holdings (Pty) Ltd
• Tipublox (Pty) Ltd
• Tosas (Pty) Ltd
• TotalEnergies Marketing South Africa (Pty) Ltd
• Totalgaz Southern Africa (Pty) Ltd
• TWM Petroleum Services (Pty) Ltd
• Vaal Truck Inn (Pty) Ltd
• Valsar Petroleum (Pty) Ltd
• Vivo Energy South Africa (Pty) Ltd
• ZAS Petroleum (Pty) Ltd

Company Profiles - Lubricating Oils And Greases, Primarily From Other Organic Products

• Illovo Sugar Africa (Pty) Ltd
• Tongaat Hulett Ltd

Company Profiles - Other Petroleum / Synthesised Products N.E.C.

• African Wax (Pty) Ltd
• Banzi Trade 39 (Pty) Ltd
• D H Brothers Industries (Pty) Ltd
• GN Pearson
• Goldenglo Candle And Soap Manufacturers (Pty) Ltd
• Handr South Africa (Pty) Ltd
• Jars Galore (Pty) Ltd
• Kapula Candles South Africa (Pty) Ltd
• Lion Match Products (Pty) Ltd
• National Candle And Wax (Pty) Ltd
• Sasol South Africa Ltd

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