Insight
TotalEnergies' NATREF and Shell’s PCK Schwedt stakes sold to the Prax Group
Report summary
On 1st December 2023, TotalEnergies agreed to sell its minority stake in South Africa's NATREF refinery to the Prax Group. The 108 kb/d capacity refinery, a joint-venture with Sasol, is currently one of only two operational oil refineries in South Africa. The Prax Group also announced its acquisition of Shell's interest in PCK Schwedt refinery on 15th December 2023. The 239 kb/d capacity site is co-owned with Rosneft Deutschland and ENI. How do these divestments align with the strategic focus of these oil majors? And what do these transactions mean for the Prax Group? This insight explores the deals in more detail.
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