March 20, 2018
Volume 1 Issue 12
South Africas Competition Tribunal approved stated-owned Chinese energy giant Sinopecs deal to acquire a 75 percent stake in Chevron South Africa. Conditions included a 6 billion South African rand (U.S. $499 million) investment in the Western Cape refinery over the next five years, and the promise of exporting Chevron S.A. products to China. EPPCO, a joint venture between Enoc and Caltex, signed an agreement with Middle Eastern online retailer Souq to sell its automotive and industrial lubricants through the Amazon-owned platform. Malaysian oil company Petronas opened a new $60 million global research and technology center last week in Turin, Italy.