REFINERY NEWS ROUNDUP: Lower refinery runs in Africa
Refinery runs in Africa are expected to decline in January, partly on limited demand recovery and partly on extended outages in South Africa, according to S&P Global Platts Analytics.
The Engen refinery in Durban the second largest in the country was shut following a fire and explosion on Dec. 4, while the Cape Town refinery has been closed since July.
Engen has previously said it was “considering several options” for the refinery, although no decision has been made. The company said it remained “fully committed to operating the Engen refinery in a safe and reliable manner.”
Nigerian authorities moved to seize assets belonging to one of the nation’s largest banks to recoup damages owed by Royal Dutch Shell Plc to a local community over a decades-long dispute.
Shell sells OML 17 stake for $533mn
Shell Petroleum Development Co. (SPDC) has sold its 30% stake in OML 17 to TNOG Oil and Gas, for $533 million.
Updated: 19/01/2021, 1:26 pm
Shell Nigeria
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Shell Petroleum Development Co. (SPDC) has sold its 30% stake in OML 17 to TNOG Oil and Gas, for $533 million.
SPDC said that $453mn was paid on completion with the remainder to come over an agreed period. It did not reveal how long this would take.