Petromoc leads the country's energy market with innovative, international partnerships and energy security
For more than 35 years, Petromoc
, the king of the downstream industry, has worked to ensure energy supplies by distributing and marketing fuel products and lubricants, as well as managing port facilities and pipelines. “Our activity focuses on minerals from crude oil and gas. We guarantee the coal supply and we are the largest fuel provider to ensure coal exploration is done,” explains Petromoc’s Chief Executive Officer Nuno de Oliveira.
Petromoc’s rise comes at a particularly fascinating time in Mozambique’s history, with its recent discoveries of new resources. The company’s influence has been carefully crafted and diversified, in part, through valuable international partnerships created under Mr de Oliveira’s watchful eye, such as his negotiations with AIREX, a Malaysian company, to build a blending plant for lubricants. “We have another project with a Japanese company for the production of methanol. The localisation of the investment will depend on the accessibility of the gas, but in terms of availability we have the backing of ENH [the National Hydrocarbon Company] for this activity,” he explains.
Last year the company carried out a feasibility study on a $1 billion gas-to-liquids (GTL) project with South African partner Petro SA. To help facilitate business at the Port of Beira, it also has agreements with other companies, including Kuwait’s NOC and IFG, as well as Switzerland’s Tranfigura. Its other joint ventures include Proline, a partnership with South Africans for the construction of a pipeline from Mozambique to South Africa, along with IT services with IBS and logistics services with Whatana Auto and GreenRoad.
At home in Mozambique, Petromoc has established an institutional commitment to uphold the best interests of the nation; it is dedicated to energy security, contributing to the country’s economy, and above all protecting its rich natural resources. Mr de Oliveira finds satisfaction knowing that Petromoc’s distribution channels ensure energy conservation; an obligation the company considers a moral duty.
“It is necessary to guarantee that after these resources are exported, the revenues return to the people so that what is produced locally adds value to the socioeconomic development of the entire region,” he explains.
Petromoc owns 119 gas stations and continues researching groundbreaking ways to safeguard Mozambique’s assets. As part of its expansion plans, it has also been investigating the possibility of listing on a stock exchange in either South Africa or Europe.
“Petromoc can be used as a conversional or transformational instrument of local resources into something that can be utilised, in practice, for family and economic security, and for exports to create wealth, and most importantly add value to our economy,” adds the CEO.