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Total, Glencore and Gunvor bidding for Chevron’s South African assets
CAPE TOWN (Capital Markets in Africa) – Total, Glencore and Gunvor are bidding for a 75 percent stake in Chevron’s South African downstream assets, which include a refinery, three industry sources told Reuters on Tuesday. U.S. oil major Chevron said in January it planned to sell 75 percent of its South African business unit, which includes a 110,000-barrels-a-day refinery in Cape Town. The second bidding round in which actual offers were made closed on Sept….
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