Exor Petroleum, one of the country\u2019s pioneering indigenous oil companies, has formed a joint venture company, PetromocExor,with Mozambiqueoil giant Petroleos de Mocambique (Petromoc).<\/p>\n
The joint venture between Exor and Petromoc, which is a quasi-government Mozambican company, will see the gradual rebranding of all Exor service stations to reflect the newPetromocExor brand.<\/p>\n
The joint venture is expected to usherin a bright future not only for the two brands but for the oil industry and the country at large.<\/p>\n
Exor Petroleum\u2019s capital contribution to the new company includes 14 operational service stations, four ready-to- build sites, four operational holding depots and one ready-to-build depot site as well as commercial tanks across the country, while Petromoc will bring in working capital and vast technical capabilities.<\/p>\n
PetromocExor has a stockholding capacity of five million litres.<\/p>\n
The company\u2019s general manager, Mr Felizberto Guizemana,said priority would be given to the refurbishment and rebranding of service stations. New sites would be completed within 12\u00a0months.<\/p>\n
\u201cWe are already working on refurbishing the Sunningdale(Boshoff Drive) site and will move onto St Mary\u2019sin Chitungwiza, Kamfinsa in Greendale, Bulawayo and later the Masvingo proposed petroport project situated on the Harare to Beitbridge highway,\u201d he said.<\/p>\n
Mr Guizemana pointed out that Mozambique has had strong historical ties with Zimbabwe. He predicted that the joint venture would be one of the many success stories in the future of the two countries.<\/p>\n
\u201cOur vision is to stay as a household name in the energy sector through the merging of the two companies\u2019 mantras ofExcellence, Everywhere.<\/p>\n
\u201cWith our core values based around customer focus, social responsibility, corporate integrity and shareholder return, we wish to maximise revenue earning through capacity utilisation of existing assets and grow the size of the distribution network by constructing new sites as well as expand the business into the remainder of the SADC region,\u201d he said.<\/p>\n","protected":false},"excerpt":{"rendered":"