https://www.engineeringnews.co.za

PetroSA warns of possible job cuts as it reorganises business

PetroSA warns of possible job cuts as it reorganises business

Photo by Duane Daws

4th March 2015

  

Font size: - +

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.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

M and J Mining
M and J Mining

M and J Mining are leading suppliers of physical support systems as used by the underground mining industry. Our selection of products are not...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

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?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.056 0.927s - 155pq - 2rq
Subscribe Now