South Africa: TotalEnergies Indicators Settlement To Divest Minority Stake In Natref Refinery To Prax Group

In keeping with its technique to divest non-core property, TotalEnergies introduced Friday the signature of an settlement to divest the 36.36% minority stake, held by TotalEnergies Advertising and marketing South Africa, in Nationwide Petroleum Refiners of South Africa (Natref) to the Prax Group. The transaction is topic to customary approvals, consents and authorisations. 

Situated at Sasolburg (Free State, South Africa), Natref refinery has a capability of 108 500 barrels of oil per day, provides the primary South African inland market of Johannesburg space and is operated by a Joint Enterprise between Sasol (63,64%) and TotalEnergies Advertising and marketing South Africa.

“The transaction is in step with the Firm technique to give attention to its massive built-in fuels & petrochemicals platforms and to divest its non-core property” commented Jean-Pierre Sbraire, Chief Monetary Officer of TotalEnergies.

TotalEnergies has been current in South Africa for almost seventy years, produces and markets a variety of energies from fuels, biofuels, pure fuel and inexperienced gases, renewables and electrical energy and stays dedicated to its operations within the nation.