Sasol and BP seal fuel depot joint venture agreement

South Africa’s Sasol, a world leader in gas-to-liquids (GTL) production, and BP Southern Africa signed a fuel depot joint venture agreement that gives the two companies shared ownership of two depots: the Alrode fuel depot in Alberton; and the Waltloo depot in Pretoria. The agreement, which was approved by the Competition Commission, gives the two companies equal access to the depots.
Prior to the agreement, the Alrode depot was fully owned by Sasol, and BP owned Waltloo. The agreement gives joint ownership of the two depots, with Sasol and BP both having a 50% interest in each of the two fuel facilities. The two depots have a storage tank farm, offices, petrol, diesel fuel and additive storage tanks, road and rail gantries, as well as a workshop. In addition to these facilities, the Waltloo depot has access to the Transnet pipeline. (July 2, 2012)