{"id":89414,"date":"2024-09-08T00:00:00","date_gmt":"2024-09-08T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/09\/08\/aramco-eyes-shells-south-africa-downstream-business\/"},"modified":"2024-09-08T00:00:00","modified_gmt":"2024-09-08T00:00:00","slug":"aramco-eyes-shells-south-africa-downstream-business","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/09\/08\/aramco-eyes-shells-south-africa-downstream-business\/","title":{"rendered":"Aramco eyes Shell\u2019s South Africa downstream business"},"content":{"rendered":"

Aramco + Adnoc going head to head in South Africa?<\/strong> Oil giant Aramco and Abu Dhabi National Oil Co. (Adnoc) are reportedly vying for Shell\u2019s network of selrvice stations<\/a> in South Africa, Bloomberg<\/a> reports, citing unnamed sources it says are familiar with the matter. <\/p>\n

Other bidders? <\/strong>Global commodities trader Trafigura could be interested. Long-shot players could also be interested, including Omani energy firm OQ, South Africa\u2019s Central Energy Fund, and South Africa\u2019s chemicals and energy player Sasol, according to Bloomberg.<\/p>\n

Not the first time we\u2019ve heard this:<\/strong> Shell confirmed in May<\/a> that it\u2019s looking to sell its South Africa downstream assets, leading to unconfirmed news reports<\/a> that Aramco had its eyes on the assets. <\/p>\n

Aramco has an appetite for downstream assets: <\/strong>\u201cThe downstream business is where we have M&A opportunities and now LNG (liquefied natural gas) as well. We have targets and markets and we work with these opportunities as they come,\u201d Aramco Executive Vice President Yasser Mufti told Reuters<\/a> last week. Aramco also acquired a 40% stake in oil retail company Gas & Oil Pakistan in June<\/a>.<\/p>\n

The details: <\/strong>Shell aims to raise up to USD 1 bn from this sale, which encompasses their trading and fuel supply operations across 600 stations in the country. The sale would include the company\u2019s aviation, marine, construction and road, trading and supply, commercial fuels, and lubricant operations. <\/p>\n

The timeline:<\/strong> A final list of bidders is expected soon and binding offers are due by December. The final decision on the sale could be made by the end of this year or possibly stretch into early 2025.<\/p>\n

ADVISORS-<\/strong> Shell is being advised on the sale by Rothschild & Co.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

The transaction could wrap up before year\u2019s end or in early 2025<\/p>\n","protected":false},"author":1,"featured_media":89415,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2575],"tags":[139,2425,10,14,2044],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-89414","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-aramco","tag-energy","tag-enterpriseam-ksa","tag-ma-watch","tag-shell","wpautop","entry"],"acf":{"mongo_id":"b6ddea1f-f3db-4f29-a8b2-84d459407593","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/9\/469.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Aramco eyes Shell\u2019s South Africa downstream business","related_issue":[89407],"teaser":"The transaction could wrap up before year\u2019s end or in early 2025","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/9\/.7ee352be-32be-4c8a-afb1-215773abcc51.mp3"},"yoast_head":"\nAramco eyes Shell\u2019s South Africa downstream business - 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