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Shareholders of SA's largest oil refinery Sapref, south of Durban, have decided to suspend operations indefinitely by the end of March as they consider selling the plant.
Shareholders of SA's largest oil refinery Sapref, south of Durban, have decided to suspend operations indefinitely by the end of March as they consider selling the plant.
Shareholders of SA's largest oil refinery Sapref, south of Durban, have decided to suspend operations indefinitely by the end of March as they consider selling the plant.
By Paul Burkhardt (Bloomberg) – South African plants owned by Glencore and Petroliam Nasional that make up 43% of the nation’s oil-refining capacity are expected to stay shut until at least 2022, according to energy consultant Citac. Astron Energy, a unit of Glencore, has yet to restart the 100,000 barrel-a-day Cape Town refinery after a deadly explosion and fire in July. Petronas unit Engen Holding’s Durban plant also stopped production in December after a fire. The closures will force South Africa to rely heavily on fuel imports. All four of South Africa’s oil refineries – with a ...