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Stock impact report

Shell to exit downstream businesses in South Africa, Malaysia [Yahoo! Finance]

BP p.l.c. (BP) 
Last bp p.l.c. earnings: 4/29 04:01 pm Check Earnings Report
Company Research Source: Yahoo! Finance
In South Africa, Shell will sell its majority stake in SDSA following an extensive analysis of its operations worldwide. "As a result of this review, Shell has decided to reshape the downstream portfolio and intends to divest our shareholding in SDSA... this decision was not taken lightly," Shell was quoted by Reuters as saying. SDSA was established after a merger between Shell South Africa Marketing and Shell South Refining, with the Thebe Investment Corporation holding a 28% stake. The Sapref refinery is one of SDSA's primary assets, with a nameplate capacity of 180,000 barrels per day. It has been inactive since 2022 following a joint decision with bp to freeze spending and halt operations. In Malaysia, Shell is in talks with state-owned Aramco to sell its network of approximately 950 fuel stations. Discussions commenced in late 2023, and a deal could be reached in the upcoming months, reported Reuters , citing sources. Industry sources estimate the potential transac Show less Read more
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