07:22 AM EDT, 06/20/2024 (MT Newswires) -- Sasol ( SSL ) said Thursday the High Court of South Africa ordered Transnet SOC to pay Sasol Oil and TotalEnergies' (TTE) Marketing around 6.2 billion South African rand ($340 million) in damages plus interest over a tariff dispute.

Transnet SOC, through its business unit Transnet Pipelines, transports crude oil for Sasol Oil and TotalEnergies from Durban to their Natref crude oil refinery in Sasolburg. In 2017, Sasol Oil joined TotalEnergies in taking legal action against Transnet for allegedly breaching an agreement from 1991 regarding pipeline tariffs for crude oil transportation that led to Transnet overcharging Sasol Oil for several years.

Transnet said Thursday it would appeal the High Court's decision.

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