Major Russian bank to revive South African refinery ...News

Pretoria has expressed confidence that selecting Gazprombank as an investor will not trigger Western sanctions South African national oil company PetroSA has chosen Russia’s Gazprombank as its preferred investment partner to revive a gas-to-liquid (GTL) fuel refinery in the southern town of Mossel Bay, despite the threat of Western sanctions. The move, announced on Monday, has been approved by South Africa’s cabinet, according to officials. A final investment decision is expected in April of next year. The US and its Western allies have imposed sanctions on Gazprombank, Russia’s third-largest lender by assets an

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Major Russian bank to revive South African refinery ...News

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