Oryx Energies increases its majority interest in Oryx Gas South Africa

12 September 2024

Oryx Energies is pleased to announce that it has acquired Royale Energy (Pty) Ltd.’s 10.57% shareholding in Oryx Gas South Africa (Pty) Ltd.

Oryx Energies Holdings South Africa (Pty) Ltd., a wholly owned subsidiary of Oryx Energies, today announced its acquisition, for an undisclosed amount, of the 10.57% shareholding in its affiliate Oryx Gas South Africa (Pty) Ltd. held by Royale Energy (Pty) Ltd. With this move, the company solidifies its majority interest in Oryx Gas South Africa (Pty) Ltd., a leading Liquefied Petroleum Gas (LPG) distribution company, to further expand its offering to end-consumers and key accounts via its dealership network and direct sales.

The acquisition marks Oryx Energies’ latest investment in its LPG activity, which targets the leading position in each market in which the company operates. The move strengthens Oryx Energies’ presence in South Africa and reflects the company’s commitment to supporting the energy transition towards cleaner fuels in the country.

Commenting on the closure of the transaction, Sidy Bane, Oryx Energies Downstream Manager East Africa, said: “This acquisition supports our efforts to make cleaner energy available to a greater area of South Africa and its communities. In this context, we are proud to be one of the main sponsors of World LPG Week 2024, which is to be held in Cape Town in November.”

Stephen Paris, Oryx Energies Chief Financial Officer, added: “We are very glad to have increased our participation in Oryx Gas South Africa, one of our leading affiliates. This paves the way for further development of, and investment in, LPG, a cornerstone of our ambitious global three year-strategic plan, Oryzon 25. Oryx Energies is committed to being a leading LPG player in sub-Saharan Africa.”

Oryx Energies already occupies a leading position in LPG across sub-Saharan Africa and has been promoting LPG for almost 25 years. Safe, efficient, competitively priced and more sustainable than traditional fuel, LPG has a pivotal role to play in the transition towards cleaner energy and offers proven benefits to both industrial and domestic users.