Oryx buys BP’s LPG businesses in SA
Addax & Oryx Group (AOG) subsidiary Oryx Energies has agreed to buy the South African liquefied petroleum gas (LPG) distribution businesses of BP and its 45%-owned Masana Petroleum Solutions subsidiary for an undisclosed amount.
This follows privately owned AOG’s announcement in February that it plans to invest $400-million in Africa’s energy sector over the next five years, with the aim of becoming a significant player in the down- stream sector in the region.
The company aims to build more infra- structure in Africa and develop specialities such as bitumen and LPG.
“This is an important step in the roll-out of our regional LPG strategy,” AOG chairperson Jean Claude Gandur said in late March.
BP last year announced its intention to sell its LPG bottles and bulk business, in addition to part of its wholesale LPG activities in the UK, Portugal, Austria, Poland, the Netherlands, Belgium, Turkey, China and South Africa.
“We are pleased to have reached an agree- ment with Oryx Energies, given its depth of experience in the LPG sector and its commitment to the transformation agenda in South Africa,” commented BP South Africa head Gerard Derbesy.
BP supplies a range of industrial, commercial and domestic customers in South Africa, with sales of nearly 40 000 t/y of bulk, cylinder and aerosol LPG.
Masana LPG serves large, commercial and industrial consumers, with sales of 20 000 t/y of bulk LPG.
Oryx Energies, which plans to conclude the deal by the third quarter of the year, will absorb over 45 employees in Johannesburg, Cape Town, Pretoria and Durban through Oryx Oil South Africa.
The deal is subject to the necessary legal and regulatory approvals.
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