May 25, 2017 / 12:02 PM / in 2 years

South Africa's govt wants Sinopec to retain refinery capacity

CAPE TOWN, May 25 (Reuters) - South Africa is in talks with China’s Sinopec over its take-over of Chevron Corp’s Cape Town refinery and will look to ensure that production capacity was retained and enhanced, Economic Development Minister Ebrahim Patel said on Thursday.

Sinopec will pay almost $1 billion for a 75 percent stake in Chevron Corp’s South African assets and its subsidiary in Botswana to secure its first major refinery in Africa, the companies announced in March. (Reporting by Wendell Roelf; Editing by James Macharia)

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