• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business Energy

Shell to exit South Africa’s downstream businesses

1 year ago
in Energy, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
Royal Dutch Shell Plc signage is displayed outside the company's gas station in Torrance, California, U.S., on Sunday, July 28, 2019. Photographer: Patrick T. Fallon/Bloomberg

Royal Dutch Shell Plc signage is displayed outside the company's gas station in Torrance, California, U.S., on Sunday, July 28, 2019. Photographer: Patrick T. Fallon/Bloomberg

91
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Shell to exit South Africa’s downstream businesses

Oil major Shell will divest its majority shareholding from a local South African downstream unit after a comprehensive review of its businesses across all regions, it said on Monday.

“As a result of this review, Shell has decided to reshape the downstream portfolio and intends to divest our shareholding in SDSA … this decision was not taken lightly,” a Shell statement said. It did not specify when the decision took effect.

Shell Downstream SA (SDSA) was formed after Shell South Africa and black empowerment company, Thebe Investment Corporation, agreed a decade ago to merge Shell South Africa Marketing and Shell South Refining businesses. Thebe held a 28% equity stake.

Shell, which has been present in South Africa for more than century, is still exploring the country’s offshore, incurring opposition from environmental campaigners who have launched court action.

During the divestment process, Shell said on Monday it would work to preserve SDSA’s operating capabilities and maintain its brand presence.

A Thebe spokesperson was not immediately available for comment.

RelatedPosts

Africa’s Fastest-Growing Economy Sets new Rules for Foreign Stake in Local Banks

Nigeria’s Oil Production Could Reach 2 Million bpd by Next Year

BoG Halts GCB Bank Dividend Payment Over Regulatory Breach

One of SDSA’s main assets and South Africa’s largest refinery, Sapref, in the east coast port city of Durban has not been operating since 2022 when Shell and its refinery joint venture partner, BP decided on a spending freeze and halt to the refinery’s operations.

Flooding along the coast that killed nearly 400 people that same year severely damaged the plant, which at that stage provided around 35% of South Africa’s refining capacity.

South Africa’s Central Energy Fund said two years ago it was interested in Sapref, which has a nameplate capacity of 180,000 barrels per day, as it seeks to overcome energy security concerns.

On Monday, an energy official, speaking on condition of anonymity, said CEF had signed a non disclosure agreement with the parties involved and therefore could not comment.

 

Tags: ShellShell to exit South Africa’s downstream businessesSouth Africa’s downstream businesses
No Result
View All Result

Highlights

How an Idle Land Tax Could Build 10,000 Homes in 5 Years

Thibaut Courtois Accuses La Liga of ‘Manipulation’ Amid Protests Over Miami Fixture

Historic Bid: U.S. Joins Forces with Mexico, Costa Rica, and Jamaica for 2031 Women’s World Cup

Bank of Ghana Sells GHS 7.0bn in 56-Day Bills at 21.46% Interest Rate

Deputy Finance Minister Hints 2026 Budget to Prioritise Fiscal Discipline and Job Creation 

FirstBank and Coronation Insurance Strengthen Partnership to Deliver Greater Value to Customers

Trending

Business

Africa’s Fastest-Growing Economy Sets new Rules for Foreign Stake in Local Banks

October 21, 2025

Africa’s Fastest-Growing Economy Sets new Rules for Foreign Stake in Local Banks Ethiopia has officially moved closer...

Nigeria’s Oil Production Could Reach 2 Million bpd by Next Year

October 21, 2025

BoG Halts GCB Bank Dividend Payment Over Regulatory Breach

October 21, 2025

How an Idle Land Tax Could Build 10,000 Homes in 5 Years

October 21, 2025

Thibaut Courtois Accuses La Liga of ‘Manipulation’ Amid Protests Over Miami Fixture

October 21, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.