CEF welcomes approval of bid to acquire 50% of BP Cape Town terminal
The Competition Tribunal has approved the transaction without conditions
14 August 2022 - 17:36
The Central Energy Fund (CEF), which oversees SA’s strategic crude oil stockpiles, has welcomed the approval given by the competition authorities for the acquisition by its subsidiary the Strategic Fuel Fund (SFF) of a 50% interest in the assets of BP Southern Africa’s Cape Town terminal.
The CEF, which manages oil reserves through the SFF, said in a statement on Sunday that the deal would enable it to import finished products to mitigate risks brought about by the shutdown of some of the big refiners in the country...
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