Sasol, Petronas JV moves toward approval

Source: www.gulfoilandgas.com 5/16/2005, Location: Africa

South African energy and chemical company Sasol Ltd, Malaysian National petroleum corporation Petronas and black economic empowerment partners Tshwarisano LFB Investment and Afric Energy Resources (a wholly-owned subsidiary of Worldwide African Investment Holdings) today noted the South African Competition Commission's recommendation to the South African Competition Tribunal regarding their proposed liquid fuels joint venture, to be called Uhambo Oil Ltd.

"We welcome the Competition Commission's recommendation for conditional approval of the joint venture to the Competition Tribunal," said the parties in a joint statement.


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