TotalEnergies to sell stake in South African refinery to Prax

TotalEnergies has agreed to offload a minority 36.36% stake in National Petroleum Refiners of South Africa (Natref) to energy company Prax Group.

Natref represents a collaboration between TotalEnergies Marketing South Africa (36.36%) and Sasol (63.64%). Situated in Sasolburg within South Africa's Free State province, the Natref refinery serves the primary inland market in the Johannesburg area. With a daily oil processing capacity of 108,500 barrels, the sale of Natref is a strategic move by TotalEnergies to divest from its non-core assets.