Glencore’s energy company, Astron, has become a major player in South Africa’s fuel sector, with a growing network of petrol stations and one of the country’s largest oil refineries. Owned by Swiss commodities giant Glencore, Astron has invested billions since entering the local market and has expanded its presence to compete with major fuel brands like BP and TotalEnergies.
Glencore entered the South African fuel market in 2017 when it bought American company Chevron’s Southern African assets for $1 billion.
Since then, it has spent heavily on infrastructure upgrades, particularly on Astron’s refinery in Cape Town, which now produces up to 100,000 barrels of refined fuel products per day.
These include petrol, diesel, jet fuel, and liquefied gas, supplying both the local market and exports. The Cape Town refinery, which restarted in 2023, is now running at full capacity. It is considered a key asset in Glencore’s portfolio.
While most of Astron’s revenue comes from the refinery, its retail operations are expanding rapidly. Since 2022, the company has been rebranding over 800 Caltex petrol stations to Astron Energy. As of the end of July, 500 stations had been rebranded, and the company updates about 20 locations each month.
According to the company, over 450 jobs have been created to support the rollout, and 30 small local businesses have been involved in the rebranding process through Astron’s supplier development initiative.
Full story Billionaire-backed petrol station taking over South Africa – BusinessTech
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