Cheered on by ANC advocates of state intervention led by energy minister Gwede Mantashe, the government looks set to purchase the 180,000 b/d South African Petroleum Refineries (Sapref) joint venture, to pre-empt a sale or closure of the ageing unit by its owners Shell and BP. How to finance and keep open the outmoded facilities in the South African rust belt will pose major challenges, writes Marc Howard.
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