Shell Plc intends to exit shareholdings in its South African retail, transport and refining operations, Daily Maverick reported. <\/p>\n\n\n\n
The energy company made the decision after reviewing its downstream and renewables business across all regions and markets, the website reported<\/a>, citing Shell. <\/p>\n\n\n\n Local media, including Sunday Times and City Press, reported that Shell plans to exit South Africa, where it has about 600 forecourts and has operated since 1902.\u00a0<\/p>\n\n\n\n Shell and BP Plc\u2019s southern African unit jointly own the Sapref refinery \u2014 the nation\u2019s biggest \u2014 in Durban on the country\u2019s east coast. <\/p>\n\n\n\n The 180,000 barrel-a-day facility halted operations ahead of a sale in 2022 and was subsequently damaged by floods.\u00a0<\/p>\n\n\n\n The government published new rules in 2022 that require refiners to meet low-sulfur fuel specifications by 2023, which rendered most of the nation\u2019s fleet obsolete, according to a lobby group representing the fuel manufacturers.<\/p>\n\n\n\n Shell in 2020 said it was\u00a0reviewing its shareholding<\/a>\u00a0in Sapref.<\/p>\n\n\n\n
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