South Africa plans to revive two state refineries
South Africa's Central Energy Fund announced plans to invest roughly $7.15 billion to upgrade the Sapref refinery in Durban and additional billions to restart the Mossel Bay gas-to-liquids plant, with combined spending exceeding $8 billion. Sapref, bought in 2024 for a symbolic 1 rand after flood damage, could expand from 180,000 to between 400,000 and 650,000 barrels per day, pending National Treasury approval and financing talks with Afreximbank and others, with a final decision targeted for 2027/28. CEF plans interim revenue moves by reviving Sapref's LPG imports and leasing storage tanks while phased Mossel Bay restarts would raise capacity in two stages.
South Africa plans multi-billion-dollar refinery restarts to reduce fuel imports
Context
Sapref was damaged by floods and has been idle since 2022. Mossel Bay has been idle since 2020 due to gas shortages. CEF is seeking treasury approval and discussing financing, with a decision aimed for 2027/28.
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