The Central Energy Fund (CEF), the state-owned company whose main asset is oil and gas firm PetroSA, is in talks with Sasol to buy petrol stations as the embattled chemicals and synthetic fuels group scrambles to raise cash to pay down debt.

"There are assets that are being sold currently for what used to be the national entity  that is Sasol," the fund’s chair, Monde Mnyande, told a recent parliamentary meeting. "We are looking at those and discussing very strongly with Sasol and seeing what assets we can acquire so that we can build up our entities of PetroSA and the CEF."

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now