10:59 AM EDT, 05/06/2024 (MT Newswires) -- Shell (SHEL) has decided to divest its majority stake in downstream assets in South Africa, media outlets reported Monday, citing the oil giant.

"As a result of this review, Shell has decided to reshape the downstream portfolio and intends to divest our shareholding in SDSA ... this decision was not taken lightly," Reuters quoted a Shell statement.

"Shell has decided to reshape the Downstream portfolio and intends to divest our shareholding in Shell Downstream South Africa (SDSA)," Daily Maverick quoted Shell's response.

Shell has been operating in South Africa for at least a century, the media reports added.

Shell did not immediately respond to MT Newswires' request for comment.

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