26 March 2018
Gulfstream Energy, a non-refining fuel wholesaler, joins forces with Total South Africa, a global upstream and downstream leading oil company, to support its growth strategy and further enhance its commitment to customer service excellence.
Gulfstream Energy, one of South Africa’s leading wholesalers of quality and innovative petroleum solutions, has announced the purchase of a 30% minority share in its business by Total South Africa, part of the French multinational integrated oil and gas company.
“We are very excited by this development,” says Shane Jegels, CEO, Gulfstream. “The backing by a global brand of Total’s reputation and standing brings an extra layer of credibility to Gulfstream Energy, adding even more impetus to our core value of ‘making business easy’ for all customers across every touchpoint of the value chain.” Notwithstanding, this partnership will aim to accelerate Gulfstream’s growth in the industry, which to date has already been impressive since starting out in 2009.
Effective immediately, and already approved by The Competition Commission of South Africa, this deal shines a light on successful transformation within the local petroleum industry. It will, however, see no change to Gulfstream’s daily operations. “Apart from the addition of two board members, it will be ‘business as usual’,” adds Jegels. Further, Gulfstream will retain its current Level 4 BEE rating, complete with more than 30% black women ownership.
Its dynamic supplier network will also remain unchanged. “We exist to serve our customers,” continues Jegels. “ON TIME and IN FULL, at the ‘best possible value’ is key to our service delivery. This is made possible by our diverse supplier relationships, all of which will continue, as it’s a key part of how we promise security of supply to our customers.”
Founded in 2009, with a strong focus on making a difference within the local industry, and the greater South African community, the last few years has seen Gulfstream achieve many significant milestones. Having quickly reached delivery of first five million litres, followed by 20 million litres per month shortly thereafter, 2016 saw Gulfstream gain status as South Africa’s fastest growing wholesaler when it achieved delivery of no less than one million litres of fuel per day.
Other highlights include Gulfstream as one of only nine companies collectively awarded the R 15.5bn Transnet contract at the end of 2013 (largest to date), as well as its recent association with the newly built Burgan Cape Terminal. This storage position in Cape Town has not only seen Gulfstream significantly expand its footprint in the Western Cape but, most importantly, enabled it to improve service delivery across its entire customer base.
Gulfstream’s successful track record is no mean feat, particularly in light of a recent study by the University of Johannesburg and Centre of Competition Regulation and Economic Development that stated: “While over 1000 licenses have been issued to potential entrants in fuel wholesaling, less than 10% of these licenses are being used effectively by firms that have been able to enter and survive in the industry”. “Study on barriers to entry in liquid fuel distribution in South Africa” UJ (University of Johannesburg and CCRED (Centre of Competition Regulation and Economic Development).
With continuous transformation key to South Africa’s national agenda, both Gulfstream and Total are committed to continuing along this path of reform, benefitting not only local industry but South Africa as a whole.
Jegels reinforces ‘business as usual’. “We founded Gulfstream to make a difference in the lives of our customers and are confident that our new venture with Total will allow us to continue doing exactly that, and then some!”
05 July 2017
The arrival of oil tanker Marlin Ammolite in the Eastern mole of Cape Town harbour on 3 July signalled the beginning of a new era in fuel distribution for Gulfstream Energy.
05 July 2017
Earl Sampson joins Gulfstream’s executive team as Deputy CEO with effect from 1 July 2017.
05 July 2017
Gulfstream’s first mining venture saw an investment in on-site infrastructure to supply Vedanta’s Black Mountain Mine in Gamsberg in 2015.
30 November 2016
Gulfstream’s supply of aviation fuel took to new heights recently. The air show at Waterkloof Airforce Base held in September saw Gripen fighter jets and other aircraft powered by jet fuel supplied by Gulfstream.
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