TotalEnergies announced on Friday that it had signed an agreement with the British Prax group for the sale of its minority stake in a refinery in South Africa.

Europe's second-largest oil company by market capitalization, behind Shell, says that the sale of its 36.4% stake in the Natref site is in line with its strategy of divesting non-strategic assets.

In a press release, the group explains that it now intends to focus on its large integrated refining-petrochemical platforms.

Located in Sasolburg, south of Johannesburg, the Natref refinery, with a production capacity of 108,500 barrels of oil per day, was previously operated as part of a joint venture with Sasol (63.6%).

The amount of the transaction was not disclosed.

Present in South Africa for nearly 70 years, Total plans to continue producing and marketing multiple energies (fuels, biofuels, renewable energies, electricity) in the country.

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