that it is exiting its downstream operations in South Africa has generated a lot of responses. It has been used as a political football by opposition parties, saying this shows how companies are fleeing South Africa and that more will follow if theShell’s decision to abandon its forecourt operations is in line with its 2024 energy transition strategy. It aims to focus on charging stations for electric vehicles, biofuels and a move away from oil products such as petrol and diesel.
Thebe, which has a 28% stake in Shell’s downstream operations, is rightfully infuriated by its poor evaluation after 20 years.Essentially worthless, said the oil giant. Thebe is pushing Shell to arbitration on the dispute. It values its stake at $200 million . The Black Business Council lamented the failure of the B-BBEE Commission to effectively monitor how multinationals treat their empowerment partners. The commission often fails to respond to communication or problems brought to its attention.