Shell in talks with UAE's ADNOC for South Africa fuel outlet sale, Bloomberg News reports

Shell in negotiations with ADNOC for South Africa fuel stations sale

Shell is negotiating the sale of its South African fuel station network to Abu Dhabi National Oil Company (ADNOC).

Shell to Transfer 10% of South Africa’s Fuel Market in $1 Billion Deal With UAE State Oil Firm

South Africa’s fuel market may soon see a major change as Shell moves closer to selling its downstream business in the country to Abu Dhabi National Oil Company, also known as ADNOC, in a deal worth about $1bn. If the deal goes through, ADNOC would take control of around 600 service stations and almost 10% … The post Shell to Transfer 10% of South Africa’s Fuel Market in $1 Billion Deal With UAE State Oil Firm appeared first on Business Elites A…

Adnoc in advanced talks to buy Shell’s SA fuel stations

Shell Plc is in advanced talks with Abu Dhabi National Oil Co (Adnoc) to sell its retail fuel stations in South Africa, according to people with knowledge of the matter. Adnoc emerged as the preferred bidder after Shell’s talks with Gunvor Group – one of the world’s biggest independent oil traders – fell through, said the people who asked not to be identified as the discussions are private. An agreement may be reached as early as this quarter, t…

Shell in talks with UAE's ADNOC for South Africa fuel outlet sale, Bloomberg News reports

Shell ​is ⁠in advanced ‌talks with Abu ​Dhabi's state oil ​company ADNOC to ​sell its retail ⁠fuel stations in South Africa ​Gas