Aramco, ADNOC and Trafigura possible buyers for Shell’s network in South Africa

Shell is said to be aiming to raise nearly $1 billion from the sale of its downstream operations in South Africa.

Shell is reportedly attracting acquisition interest for its South African service stations from several major players, including Saudi Aramco (ARMCO), Abu Dhabi National Oil Company, Sasol, and commodity trader Trafigura, according to a Bloomberg report.

Shell is said to be aiming to raise nearly $1 billion from the sale of its downstream operations in South Africa, which encompass a network of 600 service stations, along with trading and fuel supply businesses.

Rothschild is advising Shell on the sale, with a buyer expected to be chosen by the end of the year, although the timeline may extend into 2025, according to the report.

The list of bidders is likely to be shortened over the next few weeks, and binding offers made by December, said the people.