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According to Reuters London on September 13, the South African Competition Tribunal has conditionally approved Glencore's proposal
to acquire the South African assets of Chevron, the second largest oil company in the United States, for $973 million.
Chevron agreed to sell its 75 percent stake in South Africa to a state-owned Chinese company
last year before Glencore, a world-renowned minerals and commodities trader.
Chevron's assets in South Africa include a refinery in Cape Town with the capacity to process 110,000 barrels of crude oil per day, a lubricant plant in Durban, 845 gas stations and other oil storage facilities, in addition to 220 convenience stores
in South Africa and Botswana.
According to Reuters London on September 13, the South African Competition Tribunal has conditionally approved Glencore's proposal
to acquire the South African assets of Chevron, the second largest oil company in the United States, for $973 million.
Chevron agreed to sell its 75 percent stake in South Africa to a state-owned Chinese company
last year before Glencore, a world-renowned minerals and commodities trader.
Chevron's assets in South Africa include a refinery in Cape Town with the capacity to process 110,000 barrels of crude oil per day, a lubricant plant in Durban, 845 gas stations and other oil storage facilities, in addition to 220 convenience stores
in South Africa and Botswana.
