JOHANNESBURG, April 23 British oil company BP
intends to invest nearly 5 billion rand ($539 million) in
South Africa over the next five years, half of which will be
spent to upgrade a joint-venture refinery it owns with Shell
The upgrade will primarily be to comply with South Africa's
proposed clean fuels requirements, group managing director Iain
Conn said in a statement on Tuesday.
Some of the money will also go to opening 120 new convenience
stores at fuel stations in partnership with South African
retailer Pick n Pay.
The company said it would also be investing in neighbouring
($1 = 9.2715 South African rand)
(Reporting by Helen Nyambura-Mwaura; Editing by Jon Herskovitz)