Sasol mulls buying majority stake in Chevron's South African assets

08-Jul-16

Petrochemicals firm Sasol is considering buying a majority stake in Chevron's South African assets, including a 110,000 bpd oil refinery and retail stations, as per Reuters. Chevron, which has had a presence in South Africa for more than a century, said in January it would sell its 75% stake in its business in the country after making similar sales in Nigeria due to weak oil prices.
South Africa's Energy Department will investigate a bid by state-owned Strategic Fuel Fund to buy Chevron's assets without seeking clearance.