Today's Labour News

newsThis news aggregator site highlights South African labour news from a wide range of internet and print sources. Each posting has a synopsis of the source article, together with a link or reference to the original. Postings cover the range of labour related matters from industrial relations to generalist human resources.

petrosaSowetanLive reports that state-owned PetroSA let a profitable gasoline supply offer slip through its hands despite the potential of making hundreds of millions of rand from it.

The offer to supply diesel and fuel for one year to PetroSA was made by Trescorp Alliance, a company nominated by the ministry of oil and gas of the Sultanate of Oman following a cooperation agreement with then minister of energy Jeff Radebe in June 2018. The proposed deal would have seen the Singapore-based company deliver petrol and diesel to SA at a cost of R5 per litre before cost duties. The deal was seen to have the potential to generate profits for PetroSA, which has been beset by mismanagement claims. The company has instead entered into a deal worth R1.7bn with two multinational companies to source petrol and diesel in the next three months. Meantime, PetroSA is set to retrench 500 workers as it is experiencing a financial crisis. On Monday it met its unions in a consultative meeting facilitated by the CCMA. Trade union Solidarity’s chemical sector coordinator, Gerhard Cloete, said that if the Trescorp deal was viable to help stop job losses they wanted it to be pursued and considered urgently. "We are open and open-minded to viable alternatives to jobs losses and information about this deal is important to workers," Cloete said. The National Union of Metalworkers of SA’s Irvin Jim said they would now be asking questions about the Trescorp deal as it might have saved PetroSA. "Now PetroSA is busy retrenching workers while it has dropped other deals that could have strengthened its balance sheet and saved jobs, we have no choice but to demand answers," Jim pointed out.

  • Read the full original of the report in the above regard by Isaac Mahlangu at SowetanLive

Get other news reports at the SA Labour News home page