Shell's purported decision to exit South Africa has surprised many, given the country is a lucrative market for the international oil giant.
Shell has chosen to reshape its Downstream portfolio and has plans to sell its shareholding in Shell Downstream South Africa ., after reviewing its downstream and renewables business in various regions and markets, the energy company, as reported on the website citing Shell, has decided to divest from certain ventures.
In 2022, the 180,000 barrel-a-day facility, which was scheduled for sale, ceased operations and suffered flood damage. “Don’t panic. What Shell is saying is they’re not going to close down their retail network if they do what they did in the rest of Africa,” he said.
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