According to media reports, the state-owned Central Energy Fund (CEF) is considering the acquisition of Sapref, the largest crude oil refinery in southern Africa.
The 180 000-barrel-a-day plant, based in Durban, is a joint venture between Royal Dutch Shell and BP.
With pressure mounting for countries to reduce their impact on climate change, the South African government published new rules in September that require refiners to meet low-sulphur fuel specifications by 2023.
