Shell (SHEL) has shortlisted Abu Dhabi National Oil and Gunvor as potential buyers for its downstream assets in South Africa, Bloomberg News reported Thursday, citing people familiar with the matter.
The assets are valued at about $1 billion, and both companies are strong contenders, the report said. Shell and Gunvor declined to comment, and ADNOC said, "We don't comment on market speculation."
Potential bidders including Trafigura's Puma Energy, Sasol and PetroSA are out of the running, the report said. Trafigura and Sasol declined to comment, and PetroSA couldn't be reached immediately, Bloomberg said.
A decision on the sale may be announced in the coming weeks, though talks continue, and there is no guarantee that a sale will occur, the report said.
Saudi Aramco had shown interest, but it is unclear if the company is still involved in the process, the report said. Saudi Aramco declined to comment, Bloomberg said.
Shell, ADNOC, Trafigura, Sasol, PetroSA and Saudi Aramco didn't immediately respond to requests for a comment from MT Newswires, and Gunvor declined to comment.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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