Sasol ditches Chevron asset sale
US oil company says the search for a buyer for 800 filling stations, Cape Town refinery and Durban lubricants plant will continue
Global oil refiner and marketer of petroleum products Chevron said the process of disposing of its assets in SA was continuing, although Sasol, an early interested party, had abandoned its bid to purchase. The proposed disposal involves more than 800 filling stations operating under the Caltex brand. Chevron also plans to sell its Cape Town refinery and a lubricants plant in Durban. Petrochemical conglomerate Sasol has not divulged its reasons for withdrawing and Chevron is likewise tight-lipped about the disposal. Such permission is routine in transactions of this magnitude by state-owned companies. The fallout led to the immediate dismissal of both Gamede and Jawoodeen and an investigation of all the SFF’s contracts by Joemat-Pettersson. Several months later, the saga claimed another casualty when Joemat-Pettersson fired Central Energy Fund chairman Xolani Mkhwanazi for, she claimed, also pursuing a transaction with Chevron. However, Mkhwanazi — who held confidential, informal tal...
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