TotalEnergies sells minority stake in Natref refinery to the Prax Group
Published on: Dec 1, 2023
Natref refinery has a capacity of 108,500 barrels of oil per day and supplies supplies the main South African inland market.
TotalEnergies has signed an agreement to divest the 36.36% minority stake, held by TotalEnergies Marketing South Africa, in National Petroleum Refiners of South Africa (Natref) to the Prax Group.
Located at Sasolburg (Free State, South Africa), Natref refinery has a capacity of 108,500 barrels of oil per day, supplies the main South African inland market of Johannesburg area and is operated by a JV between Sasol (63,64%) and TotalEnergies Marketing South Africa.
“The transaction is in line with the Company strategy to focus on its large integrated fuels & petrochemicals platforms and to divest its non-core assets” commented Jean-Pierre Sbraire, Chief Financial Officer of TotalEnergies.
TotalEnergies has been present in South Africa for nearly seventy years, produces and markets a wide range of energies from fuels, biofuels, natural gas and green gases, renewables and electricity and remains committed to its operations in the country.
