Shell is ditching its SA downstream business after more than 120 years

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Shell is ditching its SA downstream business after more than 120 years

Loveworld / 36 mins

May 9, 2024

1 min read

Shell has confirmed plans to exit South Africa after more than 120 years of operation.
In a statement issued on Monday afternoon, the oil major said it had decided to divest its majority shareholding from a local South African downstream unit following a comprehensive review of its downstream and renewables businesses across all regions.
The downstream business has traditionally encompassed refining, transporting and selling fuel to customers. Shell has around 700 fuel service stations in South Africa.
“As a result of this review, Shell has decided to reshape the downstream portfolio and intends to divest our shareholding in Shell Downstream SA (SDSA). Considering SDSA’s illustrious history, this decision was not taken lightly,” the company said.