Shell To Exit Downstream South Africa Assets

Shell is preparing to divest from downstream operations in South Africa as a result of an internal portfolio review, Shell said in a statement on Monday reported by Reuters and confirmed in an interview with the Daily Maverick just hours later.  Shell holds a majority share in Shell Downstream SA (SDSA), which was formed by the merger agreement between Shell South Africa and Thebe Investment Corporation a decade ago. The partnership was intended to merge Shell’s marketing and refining business, with Thebe, a black empowerment group,…