BP and Shell "pausing" production at Sapref - looking for buyer

[Jan]

South Africa's biggest fuel refinery is shutting down

BP South Africa and Shell Downstream South Africa have announced they will pause operations at South African Petroleum Refineries (Sapref) in Durban by the end of March 2022.

The two shareholders of the refinery will implement a spending freeze and pause refinery operations at Sapref no later than the end of March 2022 as they will attempt to find a buyer for the refinery.

 

[Polymathic]

Hello Chinese firm

 

[Baise]

Eish ... thats a lot of jobs gone

 

[Herr der Verboten]

Eish ... thats a lot of jobs gone

Basic Income Grant will fix that

 

[BuckRogers]

ANC must be so proud

 

[mr_norris]

What exactly is the reason for the decision to look for another buyer in the first place? I see that they paused production during last years riots, but that only lasted a week. Is it money? New environment regulations? It's all so vague.

 

[KleinBoontjie]

The decision comes after consultation with the government, unions, and Sapref employees.

Why do I think it is "because of" and not "after consultation with". Probably unreasonable demands and shareholders saying "fok julle naaiers"

 

[elf_lord_ZC5]

Why do I think it is "because of" and not "after consultation with". Probably unreasonable demands and shareholders saying "fok julle naaiers"

No longer economic luck viable ... , have fun ANC

 

[rvZA]

South Africa’s biggest fuel refinery is shutting down​

Yeah, Cyril may just be in time announcing the BIG tonight! Thank god!

 

[Gazg]

What a loss of revenue for eThekwini Municipality.

 

[mypetcow]

Petrol price increase here we come. Electric cars need to get here faster!

 

[Kawak]

More negative for our current account, less jobs, go ANC, go unions, you've done well, now which industry do we shut down next...

 

[maumau]

Mission accomplished

 

[rvZA]

Mission accomplished

No padawan.... still many companies to go.... too many people still employed in the private sector by capitalists. The fight for freedom is still ongoing.....

 

[rvZA]

Hello Chinese firm

Will be a good thing for China. We have a population of 50m, they over a Billion. As long as it creates jobs for them here in SA, I see no problem with that.

 

[Kodi]

This will play nicely into Gwedi's hands.

 

[Shadowchaser1]

Petrol price increase here we come. Electric cars need to get here faster!

I suspect petrol will be around R25 per liter by Dec 22.

 

[quovadis]

I suspect petrol will be around R25 per liter by Dec 22.

R30 is my guess.

 

[R13...]

Mission accomplished

What mission? Article doesn't say why they are pausing, with the reason being that they don't want to spend money upgrading to cleaner fuels. Engen are also converting from refinery to an import terminal as they are opting to import cleaner fuels than covert their refinery.

 

[mypetcow]

What mission? Article doesn't say why they are pausing, with the reason being that they don't want to spend money upgrading to cleaner fuels. Engen are also converting from refinery to an import terminal as they are opting to import cleaner fuels than covert their refinery.

Thankfully the Rand is such a stable currency and that all oil is traded in US$. Nothing to see here.
If the infrequent but regular petrol price adjustments are a bit much imagine how much fun it will be when they start changing monthly or weekly...