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South Africa's Central Energy Fund gets Durban refinery land, possessions

South Africa's stateowned Central Energy Fund has actually gotten land and assets at the nation's largest refinery which has actually run out operation for the last two years, the energy ministry said on Saturday.

Oil major Shell stated earlier this month that it would divest its bulk shareholding from a regional South African downstream system after a detailed review of its organizations throughout all areas.

One of Shell Downstream SA's (SDSA) primary properties was the 180,000 barrel daily refinery SAPREF, a joint endeavor in between itself and BP in the east coast port city of Durban, which has actually stood idle because 2022 in the middle of a costs freeze and subsequent flood damage.

The sale consists of the SDSA and bpSA interests in the SAPREF land and other involved properties, which include crude and finished item tanks, process units, pipelines to and from SAPREF to Island View terminal and the single buoy mooring for crude imports, a declaration from the Department of Mineral Resources and Energy said.

The sale omits terminal operations at the Island View depot and the lubes blending and grease producer, Blendcor, the department included.

South Africa, a net importer of refined petroleum items, has actually been seeking to invest in brand-new refinery capacity for more than a years to help overcome energy security challenges, worsened recently since the closure of its 2 biggest refineries, both located in Durban.

(source: Reuters)