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Africa|Freight|Petrochemicals|Refinery|Transnet|transport
Africa|Freight|Petrochemicals|Refinery|Transnet|transport
africa|freight|petrochemicals|refinery|transnet|transport

Transnet ends long-drawn Sasol Oil dispute through R4.3bn settlement

Natref refinery

Natref refinery

Photo by Creamer Media

26th May 2025

By: Marleny Arnoldi

Deputy Editor Online

     

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Petrochemicals giant Sasol’s Oil division has confirmed it has reached an agreement with State-owned freight utility Transnet, which will make a net payment to Sasol Oil of R4.3-billion before June 30, to settle multiple disputes between the two entities.

In the first matter, the High Court on June 20, 2024, handed down a judgment in favour of Sasol Oil and TotalEnergies Marketing South Africa whereby Transnet was due to pay Sasol Oil R3.9-billion plus interest to settle the dispute.

The dispute related to charges levied to transport crude oil from Durban to the Natref refinery. The Natref refinery is owned 63.64% by Sasol Oil and 36.36% by TotalEnergies.

The oil majors claimed damages arising from Transnet’s alleged breach over a number of years in its obligation to set pipeline tariffs for conveyance of crude oil in terms of an agreement that had been entered into between the parties in 1991.

Transnet then sought leave to appeal that judgment to the Supreme Court of Appeal, which rendered the High Court judgment order suspended.

In August 2024, the High Court heard another matter instituted by Transnet against Sasol Oil to recover an amount of R855-million, with judgment still having been pending as of May 18.

On May 18, Sasol Oil and Transnet signed an agreement to settle their respective disputes, to which Transnet will make a net payment to Sasol Oil of R4.3-billion in full and final settlements of both disputes.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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