Zenex is an oil marketing company whose operations are largely based in South Africa. Formerly Esso Oil South Africa, Zenex was formed when Esso disinvested during the sanctions era. The ownership of Zenex resided in an offshore trust which was ultimately dedicated to the upliftment of the underprivileged. The Trust has sold its interests in Zenex to a consortium which includes Worldwide Africa Investment Holdings, the major shareholders in Afric Oil, and Zenex Management. This could be the prelude to the merger of Zenex and Afric Oil. Assistance with the transaction was provided by the Energy Resources Division of Standard Corporate and Merchant Bank.
While Zenex is one of the smaller players in the South African market, holding an overall 2.5% market share, it nevertheless has stylish marketing presence and an attractive network of service stations. The Zenex network comprises some 140 sites and these tend to be concentrated in areas that can be served by its depot network. The company also markets other fuel products including diesel, in which it has a relatively good position, illuminating kerosene, power paraffin, residuals and asphalt. Zenex also markets lubricants and has a particular strength in railroad lubricants.
Zenex is well represented at various government oil industry bodies, industry agreements and other discussions. Zenex is a founder member of SAPIA.
Product is obtained through a toll-processing agreement with one of the major oil companies. Natref currently services the Zenex processing contract. Zenex is the major shareholder in a 35,000 tonne/year lubricant blend plant which it operates in Durban. Other shareholders include Sasol and Agip.