South Africa: SAPREF refinery sold to state-owned entity

On May 28, 2024, BP South Africa (bpSA) and Shell Downstream South Africa (SDSA) announced that 50% of the owned-assets of the SAPREF refinery have been sold to the South African state-owned entity, Central Energy Fund SOC Ltd (CEF).

According to the announcement, the sale includes the land, tanks, process units, pipelines to and from SAPREF to Island View terminal, and the Single Buoy Mooring for crude imports. It excludes bpSA’s marketing business, the operation of Island View terminal operations and Blendcor Ltd (lubricant and grease manufacturer). The sale depends on approval from the applicable regulators.

Situated in Durban, SAPREF was commissioned in 1963 as a joint venture between SDSA and bpSA. It was the lar