The Inkatha Freedom Party is outraged at the government’s nonchalant announcement that the state-owned Central Energy Fund had concluded the two-year-long…
Following successful negotiations, bp Southern Africa and Shell Downstream South Africa (SDSA) have reached an agreement for the sale of their respective 50% ownership of assets located at the Sapref refinery precinct, in KwaZulu-Natal, to South African State-owned entity the Central Energy Fund (CEF). The sale includes SDSA and bpSA’s interests in the Sapref land and other associated assets, which includes tanks, process units, pipelines to and from Sapref to Island View terminal, and the Single Buoy Mooring for crude imports.
South African Shell-BP Refinery Purchase Raises Clean-Up Concern bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
South Africa’s purchase of the nation’s largest refinery from Shell and BP for a symbolic R1 will transfer the environmental liability of the site to the government, according to a local advocacy group. The state-owned Central Energy Fund, which manages South African energy assets, agreed to buy the 180 000-barrel-a-day Sapref plant, the Department of Mineral Resources and Energy said on Saturday. The asset will support the CEF’s growth strategy following the decline of local refining capacity, according to the department.