Chevron Sees Additional South African Oil Refinery Causing Glut

  • Economic slowdown has curbed motorists' demand for fuel
  • Government has proposed building Africa's largest refinery

South Africa doesn’t need another oil refinery because the slowing economy has curbed demand and the country has ample gasoline production, said Shash Rabbipal, the new chairman at the local unit of Chevron Corp., the second-largest U.S. energy company.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.