First reported by ft.com
UAE’s Adnoc strikes $1bn deal for Shell’s South African fuels business
Abu Dhabi oil giant snaps up Shell’s South African business in $1billion Africa expansion
By
Ayodeji Adegboyega
9h ago
Source
Business InsiderAbu Dhabi oil giant snaps up Shell’s South African business in $1billion Africa expansionbusinessinsider.comAbu Dhabi National Oil Company’s fuel retail arm has struck a $1 billion (R16 billion) deal to acquire Shell’s downstream business in South Africa, marking its biggest move yet into sub-Saharan Africa as Gulf energy companies expand their global footprint while Western oil majors continue reshaping their portfolios.
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