TotalEnergies' unit in South Africa is preparing to divest its 36.36% stake in the National Petroleum Refiners of South Africa (Natref) to the Prax Group. Natref is a refinery in Sasolburg with a processing capacity of 106,500 barrels of oil per day.
The Natref refinery is responsible for supplying Johannesburg and its surroundings and most of South Africa's internal market. The remaining 63.64% stake is hold by operator Sasol Oil.
The transfer of TotalEnergies' share in the asset to Prax Group is still subject to approvals from authorities.
The decision is part of a larger move from TotalEnergies to divest its non-core assets.
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