UAE company ADNOC is bidding $1 billion for Shell's downstream operations.
Abu Dhabi-based ADNOC Distribution has agreed to buy Shell Downstream South Africa, which will see it take ownership of one of the country’s largest fuel retail businesses.
If the deal goes through, it will wrap up Shell’s planned exit from South Africa’s downstream fuels market.
Announcing the transaction, ADNOC Distribution said the R16 billion ($1 billion at R16.25) acquisition includes about 580 service stations, commercial fuels, lubricants, aviation and marine fuels businesses, as well as around 360 convenience stores.
Shell sold about 3.5 billion litres of fuel during 2025, making it one of South Africa’s largest fuel retailers, the UAE government-owned company said in a statement.
