BP Southern Africa, Shell Downstream to Sell Refinery Assets
The Sapref South African Petroleum Refinery just outside Durban City.
Photographer: Alexander Joe/AFP/Getty Images
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BP Southern Africa (Pty) Ltd. and Shell Downstream South Africa (Pty) Ltd. have reached an agreement to sell their respective 50% stakes in assets held by the nation’s largest refinery to state-owned Central Energy Fund SOC Ltd.
The sale includes the oil companies’ interests in the land at SAPREF (Pty) Ltd. and other assets including crude and finished product tanks, process units, pipelines to and from the refinery to Island View terminal and the Single Buoy Mooring for crude imports, according to an emailed statement.