PARIS--(BUSINESS WIRE)--Regulatory News:
In line with its strategy to divest non-core assets, TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) has announced the signature of an agreement to divest the 36.36% minority stake, held by TotalEnergies Marketing South Africa, in National Petroleum Refiners of South Africa (Natref) to the Prax Group. The transaction is subject to customary approvals, consents and authorisations.
Located at Sasolburg (Free State, South Africa), Natref refinery has a capacity of 108 500 barrels of oil per day, supplies the main South African inland market of Johannesburg area and is operated by a Joint Venture between Sasol (63.64%) and TotalEnergies Marketing South Africa (36.36%).
“The transaction is in line with the Company strategy to focus on its large integrated fuels & petrochemicals platforms and to divest its non-core assets” commented Jean-Pierre Sbraire, Chief Financial Officer of TotalEnergies.
TotalEnergies has been present in South Africa for nearly seventy years, produces and markets a wide range of energies from fuels, biofuels, natural gas and green gases, renewables and electricity and remains committed to its operations in the country.
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About TotalEnergies
TotalEnergies is a global multi-energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our more than 100,000 employees are committed to energy that is ever more affordable, more sustainable, more reliable and accessible to as many people as possible. Active in nearly 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.
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Cautionary Note
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