Trade, Industry and Competition Minister Ebrahim Patel says South African oil refineries will benefit to the tune of R100 billion over the next five years as a result of the acquisition of Engen by global oil player Vitol.
Described as a significant occasion contributing to addressing inequalities, deepening localisation and boosting growth and economic production. “Engen will continue to buy fuel that is refined in South Africa from Aestron refinery in Milnerton in Cape Town for a period of 15 years and from Sasol refinery in Secunda and the Sasolburg one for a period of up to 10 years and this commitment has been estimated to be worth about R100 billion in petroleum turnover over the next five years,” says Minister Patel.
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