Shell reportedly preparing to exit South Africa

Many major enterprises and business people supported the B-BBEE scheme, which is now a key part of South Africa's reform which is again supported with its accelerant being BEE. People profited, now they aren't.
 
Corelli said:
Honestly best for Shell would be just to close down all those petrol stations. Looks like no more Shell Ultra Cities along the N1 freeway to JHB. And probs over 10 000 job losses, but who cares. They can withdraw and the staff can get the SRD instead.
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Those can just be changed to Engen fill stations and then there are more places to get ebucks Wimpy burgers.
 
Mike Hoxbig said:
Where are they going to go to, back to Europe where everyone is moving to EV?

It would be dumb for any fuel company to pull out of 3rd world countries. It's those countries that are going to be last to move to EV...
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Oil is not going anywhere soon.

You need power plants for trucks to switch to batteries and Germans switched of the nuclear clean plants so there are a lot less power for those electric trucks.
 
Insint said:
Oil is not going anywhere soon.

You need power plants for trucks to switch to batteries and Germans switched of the nuclear clean plants so there are a lot less power for those electric trucks.
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What does oil have to do with power? Not everyone generates power from diesel like Eskom does.

As for power, if needs be they will go back to nuclear and other alternatives. OCGT will probably be last on the list.

The point is most crude oil goes towards refining fuel. When the first world starts trending downward for fuel demand, your market becomes the third world that will only follow later...
 
Will we still be able to get shell oil?
I have always used Shell Helix HX8 5W40 5L in my old car
 
Insint said:
Those can just be changed to Engen fill stations and then there are more places to get ebucks Wimpy burgers.
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Engen already has. Not sure if they want to take them over, am doubtful.

Also they are owned by Franchisee's sooo you have to buy in to another Franchisor, which could set them back R15 million to switch even.
 
ComputerGeekCT said:
Will we still be able to get shell oil?
I have always used Shell Helix HX8 5W40 5L in my old car
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That's usually part of the exit or sale agreement.

Engen still sells Petronas engine oils even though Petronas no longer owns Engen. Astron sells Havoline engine oils, even though that's a Chevron/Caltex brand.

Maybe older members can remind us for how long Engen sold Mobil products after the sale.
 
Not surprised. It was on the cards for a while. It's been coming for the 7-8 years already.
 
cr@zydude said:
That's usually part of the exit or sale agreement.

Engen still sells Petronas engine oils even though Petronas no longer owns Engen. Astron sells Havoline engine oils, even though that's a Chevron/Caltex brand.

Maybe older members can remind us for how long Engen sold Mobil products after the sale.
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Probably the supplier had stock of Mobil. But Mobil still exist abroad.
 
So the irony is there is about 10 billion barrels of reserve of oil off the Namibian cost, and supposedly there is probably coal of the West Coast of the Cape but we wont allow exploration really.

But then again. Guess the country with the most Oil? Venezuela. 3x More than Dubai. But they are broke. Why? Corruption and Communism.
 
Anyone who has any doubt as to the type of company Shell is, just remember they donated a building to the ANC as their headquarters when they came to power.

Now it's just convenient for them to pull out when the ANC is no longer useful to them. They're not some kind of shining light that's pulling out of SA because of economic conditions or whatever. If there was more money to be made through whatever backdoor deals, they would still be here...
 
Fulcrum29 said:
Many major enterprises and business people supported the B-BBEE scheme, which is now a key part of South Africa's reform which is again supported with its accelerant being BEE. People profited, now they aren't.
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Major companies never did. I know of large banks who tried and very quickly started closing positions and not re-appointing in them and outsourcing certain business instead of employing. AA and BEE killed the economy systematically from the day it was brought in in the 1990's. It was just done in a manner that people did not realize it.
 
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