Shell in negotiations with ADNOC for South Africa fuel stations sale

Shell is negotiating the merchantability of its South African substance presumption web to Abu Dhabi National Oil Company (ADNOC), according to a Bloomberg report.

The imaginable deal, estimated to beryllium worthy astir $1bn (£737.52m), would spot ADNOC get Shell's 600 retail outlets successful South Africa. It would assistance ADNOC summation astir a 10% stock of the country's substance retail market.

The quality bureau reported that ADNOC became the preferred campaigner aft earlier talks betwixt Shell and Gunvor Group, a commodity trading firm, were discontinued.

Its study besides indicated that an statement betwixt Shell and ADNOC could beryllium finalised arsenic soon arsenic this quarter, with the talks successful an precocious stage.

These discussions are taking spot against a backdrop of vigor marketplace instability linked to ongoing struggle successful the Middle East.

This situation has affected large vigor companies including Shell, which precocious revised its first-quarter (Q1) expectations for state production.

Shell, which has operated successful South Africa for much than 100 years, announced plans successful precocious 2024 to exit its downstream operations successful the region.

Earlier this year, Shell reported nett income of $4.1bn, oregon $0.71 per diluted share, for Q4 2025, up from $928m, oregon $0.15 per diluted share, successful the corresponding play of 2024.

Adjusted net for Shell successful Q4 2025 were recorded astatine $3.3bn, representing an 11% alteration from the erstwhile twelvemonth and falling beneath expert expectations of astir $3.5bn.

ADNOC antecedently announced its volition to put $150bn (Dh550.88bn) from 2026 to 2030, aiming to grow and respond to worldwide vigor requirements.

Before the Iran conflict, ADNOC accounted for astir 4% of planetary lipid production.

"Shell successful negotiations with ADNOC for South Africa substance stations sale" was primitively created and published by Offshore Technology, a GlobalData owned brand.

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