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UK energy company to get stake in Sasol’s Natref refinery in Sasolburg

SASOLBURG - A UK-based energy company will acquire a 36% stake in the Natref oil refinery in Sasolburg, which is owned by Sasol and TotalEnergies. South African energy and chemicals group Sasol owns a 63.64% interest in the 108 500 bl/d refinery. The Prax Group, a British multinational conglomerate dealing in oil refining, storage, distribution and sales of crude oil, petroleum products and biofuels, on Friday announced it has signed a sales and purchase agreement for just more than a third of a share in the company. TotalEnergies CFO Jean-Pierre Sbraire says the transaction is in line with the company strategy to focus on its large integrated fuels and petrochemicals platforms and to divest its noncore assets. The Prax Group states that it has a proven record of operating, optimising and improving strategically important assets. The group plans to improve the refinery’s competitive position through future strategic investment and says it is able to draw upon experience in technological upgrading to ensure stability and security of energy supply in South Africa through continuity of operations.

PHOTO: (Supplied)


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