Central Energy Fund to acquire the Sapref plant from BP and Shell.

Central Energy Fund, a South African state-owned institution that ensures proper use of energy to meet the energy needs of South Africa, agreed to acquire the Sapref oil refining plant from British multinational oil and gas companies BP and Shell. Financial terms were not disclosed. The deal includes shares of BP and Shell in the amount of 50% shares each in a land plot owned by Sapref, and other assets, including crude oil and finished product tanks, process plants, pipelines from the refinery to the Island View terminal, as well as a single berth for imports of crude oil.