In 2011, Lynx acquired X-Oil, a leading Congolese fuel distribution business. By leveraging our investment capacity, energy expertise, and knowledge of international standards, we have primed X-Oil for rapid expansion into new segments and countries in Africa.
ADVANCING ACROSS DOWNSTREAM MARKET SEGMENTS
Congo’s oil market is growing rapidly, and X-Oil is growing along with it, operating within many of this market’s downstream segments:
- In Retail, X-Oil currently operates 19 service stations, representing 17% of Congo’s entire service station network and accounting for nearly 29% of retail segment sales as of July 2012. The company is currently no. 1 for unit throughput sales per station and no. 2 for global retail sales.
- Since the 2011 acquisition, we have expanded our clientele in the Consumer segment, and X-Oil Congo is currently no. 3 in the country.
- In the Lubricants and Greases segment XOIL CONGO SA has entrusted ENGEN SOUTH AFRICA and PETRONAS MALAYSIA to supply us with their full range of industrial and automotive lubricants highly tested and highly rated across Africa, United States, Europe and South East Asia with ENGEN and PETRONAS we have developed a new partnership which is giving us the best opportunity and the best capacity:
- to address all the industrial sectors, transport, mining, marine, aviation, agriculture and all manufacturing industries.
- to offer in our Service Stations the best quality service to our retail customers.
At the end of July 2012, X-Oil advanced to 3rd place in Congo across all segments, with a downstream market share of 24%.
Rapid development in the months ahead
We continue to grow X-Oil Congo by implementing the most stringent international norms and standards for every department, from safety to accounting. We are also deploying a high-performance information system – a first in Congo. The system will help us to better manage the business and increase the security of its transactions. Our goal is simple: to make X-Oil Congo’s downstream market leader by the end of 2013. As we progress, we are building a business model that can be applied within other countries in the region.