Trafigura is among three bidders competing for a minority stake in South Africa’s Natref oil refinery, as the sale process for the asset gathers momentum. The stake amounting to about 36.36%, is being marketed following the financial collapse of UK-based Prax Group, which previously acquired it, as reported by Reuters.
The Natref refinery, operated by Sasol, is the country’s only inland crude processing facility, with a capacity of roughly 108,500 barrels per day. Sasol retains majority ownership and holds a right of first refusal on the stake, giving it strategic influence over the outcome of the transaction, as stated in Reuters reporting.
In addition to Trafigura, two Black-owned South African energy firms are also participating in the bidding process, potentially backed by international partners at a later stage. The structure reflects South Africa’s Black Economic Empowerment policies, which aim to increase local participation in key industries, as highlighted by Reuters.
Analysts say the deal underscores continued investor interest in Africa’s downstream oil sector, where demand for refined fuels remains resilient even as global markets shift toward cleaner energy. The outcome of the bidding process could reshape ownership dynamics in one of South Africa’s most strategic refining assets.
