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TotalEnergies sells its shares in Natref to Prax

TotalEnergies withdraws from Natref by selling its shares to Prax, aligning its strategy with more integrated and strategic activities.

energynews
Le 6 December 2023

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As part of its refocusing strategy, TotalEnergies has taken a significant decision to sell its 36.36% stake in the Natref refinery in Prax. Located in Sasolburg, South Africa, Natref plays a key role in the region’s energy supply, particularly in Johannesburg. This refinery, operated jointly with Sasol, has a processing capacity of 108,500 barrels of oil per day.

Alignment with TotalEnergies’ Strategy

The decision to sell its stake in Natref reflects TotalEnergies’ strategic direction. Jean-Pierre Sbraire, CFO of TotalEnergies, emphasizes that this transaction is in line with the company’s strategy of focusing on its large integrated fuel and petrochemical platforms, while progressively divesting its non-core assets.

TotalEnergies’ presence and ongoing commitment in South Africa

Despite this sale, TotalEnergies remains strongly committed to South Africa. Present in the country for almost 70 years, the company continues to play a major role in South Africa’s energy sector. It produces and markets a diversified range of energies, including fuels, biofuels, natural gas, green gases, renewable energies and electricity.

About TotalEnergies

TotalEnergies, a world-renowned multi-energy company, is engaged in the production and marketing of a variety of energies. With over 100,000 employees and a presence in nearly 130 countries, TotalEnergies is a key player in the quest for more affordable, sustainable and accessible energy. It integrates sustainable development into all its operations, thus contributing to people’s well-being.

The sale of TotalEnergies’ stake in Natref to Prax not only symbolizes a strategic change for the company, but also reflects trends in the global energy sector, where large companies are increasingly focusing on integrated, strategically viable activities.

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