ADNOC Buys Shell’s South Africa Fuel Business

Adnoc to Buy Shell's South African Fuel Stations

Adnoc Distribution is has agreed to buy Shell fuel stations across South Africa in a deal valued at 1 billion. CEO Bader Saeed Al Lamki explained the rationale behind the move to Bloomberg's Abeer Abu Omar on Horizons Middle East and Africa. (Source: Bloomberg)

ADNOC Distribution Acquires Shell Downstream South Africa in R16 Billion Deal

JOHANNESBURG, Gauteng — In a major shift for the local energy retail sector, UAE-based ADNOC Distribution has announced the acquisition of Shell Downstream South Africa for R16 billion. The strategic purchase encompasses Shell’s entire downstream footprint in the country, promising to maintain the familiar Shell brand while introducing advanced digital and operational enhancements for local []

Nvidia Stock Is Now Cheaper Than Coca-Cola. Here's the Math.

The market's most valuable company now trades at a discount to a soda maker.

Manufacturers embrace local sourcing, value addition to cut import dependence

By Yinka Kolawole Nigeria’s manufacturers are increasingly embracing local sourcing and value addition as a survival strategy to reduce dependence on imported inputs amid rising production costs that continue to undermine their competitiveness within the domestic and regional markets. Industry operators, however, warn that without lower financing costs, improved infrastructure, better logistics and stronger government support [] The post Manufacturers embrace local sourcing, value addition to cut import dependence appeared first on Vanguard News.

Thailand’s Bangchak fuels North Asia push with HK$2.1b Caltex petrol stations deal

One of Thailand’s largest energy conglomerates has bought Caltex petrol stations in Hong Kong in a HK2.1 billion (US270 million) deal, which the firm will use as a springboard into North Asia. Semi-privatised Bangchak Corporation Public Company on Tuesday completed the acquisition of 100 per cent of the shares of Chevron Hong Kong from Chevron Companies (China), according to a Bangchak statement. A source told the South China Morning Post that the sale was driven by a combination of factors,...