Abu Dhabi National Oil Company’s fuel retail arm has struck a $1 billion (R16 billion) deal to acquire Shell’s downstream business in South Africa, marking its biggest move yet into sub-Saharan Africa as Gulf energy companies expand their global footprint while Western oil majors continue reshaping their portfolios.
The acquisition gives ADNOC Distribution control of Shell Downstream South Africa, including 580 company- and dealer-owned service stations, wholesale fuel operations, aviation and marine fuels, lubricants, and a network of 360 convenience stores that sold about 3.5 billion litres of fuel in 2025.
The transaction is expected to close in 2027, subject to regulatory approvals.
The deal also gives the Abu Dhabi-based company a significant presence in one of Africa’s largest and most sophisticated fuel retail markets, extending its operations beyond the UAE, Saudi Arabia and Egypt. It follows ADNOC Distribution’s purchase of a 50% stake in TotalEnergies Marketing Egypt in 2023 as the company accelerates its international expansion strategy.
“The Proposed Acquisition marks a significant milestone in ADNOC Distribution’s international growth strategy and reflects our confidence in South Africa as a high-potential, well-regulated fuel retail sector,” ADNOC Distribution Chief Executive Eng. Bader Saeed Al Lamki said.
