"Sasol, Petronas in joint venture"

Oil and gas group Sasol and Petronas International Corporation Limited (PICL) — a wholly-owned subsidiary of Malaysian State oil company Petroliam Nasional Berhad (Petronas), together with their respective Black Economic Empowerment partners Worldwide African Investment Holdings and a Sasol BEE entity, Tshwarisano LFB Investment, have signed definitive agreements in respect of a joint venture comprising Sasol's Liquid Fuels Business and Engen Limited and its subsidiaries, the parties announced on Tuesday.

The joint venture will be called Uhambo Oil Limited and will be headquartered in Cape Town.

The envisaged combination of Engen and Sasol LFB will create a leading South African liquid fuels business, which will comprise Sasol's and Engen's liquid fuels refining, blending, marketing and distribution businesses in the retail, commercial and wholesale markets, the parties said.

Full Article : iafrica.com