Fuel company Astron Energy, formerly Caltex, has requested information and to intervene in the proposed takeover of SA’s biggest petrol station chain, Engen, by Dutch-Swiss multinational Vitol Energy.
Astron has expressed concern its crude oil refinery in Cape Town could ultimately be pushed out of the market by imports. This would potentially leave SA with only one operational plant and none on the coast, potentially putting the economy at greater risk of damage from global disruptions and price volatility.
In November, the Competition Commission gave the nod to a takeover of Engen by Vitol, but with a raft of conditions, including procuring locally refined products and boosting black ownership in the value chain.
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