Insight

The non-refining, refinery transaction: Chevron divesting its assets in South Africa

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Report summary

As Chevron finalises a sales and purchase agreement for its businesses in South Africa and Botswana, the media has focused its attention on the Chevref refinery in Cape Town. Wood Mackenzie believes though the value of the deal lies not in the refinery but Chevron's other assets in the country- including a service station distribution network and access to the Saldhana Bay crude oil storage facilities. The future of the refinery in Cape Town faces both political and market challenges from domestic and international sources. In this insight, we discuss why either Sinopec or Glencore remain prepared to pay nearly US $1 billion for Chevron's businesses in South Africa, and the future of the downstream sector in the country.

What's included

This report contains

  • Document

    The non-refining, refinery transaction: Chevron divesting its assets in South Africa

    PDF 545.34 KB

Table of contents

  • Executive Summary
  • Introduction
  • Refinery
  • Service Station Distribution Network
  • Saldahna Bay Crude Oil Storage
  • Financial Analysis
  • Future
  • Conclusion

Tables and charts

This report includes 3 images and tables including:

Images

  • Typical crude slate- Chevref refinery Cape Town 2016
  • Refining margins Chevref refinery Cape Town 2016-2023
  • Map of refining, pipeline, and storage infrastructure in South Africa

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