EMEA News
Deal in Offing to Revive Dormant Durban Refinery: Report
Tuesday August 6, 2024
A deal between the South African entities of Shell and BP that co-own the Sapref refinery and the South African government could return the dormant plant to operation.
A letter seen by Reuters indicates that the oil majors would pay around $15 million to the state-run Central Energy Fund for operational costs in the first year post-sale of the 180,000 barrels per day refinery.
CEF is in the process of buying the Durban plant for a nominal sum, according to the report.
South Africa has six refineries four by the coast and two inland. In the past, the Durban refinery has been a source of supply for the local bunkering sector.
