TotalEnergies has taken a significant step in its strategic asset realignment, signing an agreement to divest its 36.36% minority stake in the National Petroleum Refiners of South Africa (Natref) to the Prax Group. The move aligns with TotalEnergies’ strategy to shed non-core assets, focusing on large integrated fuels and petrochemicals platforms. The Natref refinery, situated in Sasolburg, South Africa, boasts a daily oil processing capacity of 108,500 barrels and caters to the Johannesburg area market.

The transaction, executed by TotalEnergies Marketing South Africa, awaits customary approvals and consents. Jean-Pierre Sbraire, CFO of TotalEnergies, emphasized the commitment to operations in South Africa, where the company has been present for nearly seventy years, contributing to the country’s energy landscape through diverse offerings, including fuels, biofuels, natural gas, green gases, renewables, and electricity.

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