Who are the three bidders for the 36.36% stake in South Africa's Natref refinery, and what is notable about two of them?

According to the news, Trafigura is one of three bidders for the 36.36% stake in Natref; the other two are Black-owned South African energy companies. Notably, those two local firms 'may at a later stage be backed by a western energy partner', reflecting South Africa’s Black Economic Empowerment policy aimed at redressing historical exclusion of the Black majority from economic sectors.

Why is the 36.36% stake in Natref up for sale, and who previously owned it?

The stake is up for sale because British-based Prax Group — which acquired it from TotalEnergies for an undisclosed sum two years ago — 'went into administration in 2025'. The refinery is South Africa's only inland crude oil refinery, with a capacity of 108,500 barrels per day, and Sasol holds the remaining majority interest and has the right of first refusal.

Trafigura Among Three Bidders for Minority Stake in South Africa's Natref Oil Refinery, Sources Say

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Trafigura Among Three Bidders for Minority Stake in South Africa's Natref Oil Refinery, Sources Say — ChemBrief Topics

Trafigura Among Three Bidders for Minority Stake in South Africa's Natref Oil Refinery, Sources Say

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