You are here:

Blendcor as a Joint venture operates as a cost centre, where all costs are directly recovered from its Shareholders, Shell and BP. Hence, Blendcor makes neither a profit nor a loss, but its profitability is measured by its thru-put cost i.e. the cents per litre cost to produce a litre of oil. The finance department is responsible for the financial and general administration of Blendcor. The financial reports are prepared in this department for Board review. Monthly performance reports are also compiled by this department for discussion at management level. The Company's budget is co-ordinated by the CFO and the annual budget is approved by the Board. The computer system used by the finance department is the SAP.