PetroSA warns of possible job cuts as it reorganises business
To enhance operational efficiencies, in the midst of challenging market conditions, and to ensure its survival and sustainability, South Africa’s national oil company (NOC) PetroSA will reorganise its business.
The NOC said on Wednesday that, as a result of ongoing feedstock challenges at its Mossel Bay Refinery, it could possibly retrench employees.
PetroSA had invited labour to engage with it in a “meaningful joint consensus-seeking process”, where measures to avoid, reduce and mitigate the adverse impacts of a possible headcount reduction would be explored.
The feedstock challenges had seen the company operate at subcommercial levels and PetroSA had also not been immune to the impact of external factors, such as the slump in the oil price and the resultant declining revenues.
The NOC was nearing the completion of a cost optimisation project to realise R1-billion in recurring operational cost savings.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation