It began expanding into downstream oil in May after setting up a retail franchise in Mexico. Glencore has agreed with Off the Shelf to acquire 100 % of Chevron South Africa , and the entire issued share capital of Chevron Botswana for $ 500 m . The payment will be made in part from Glencore ’s own resources , with the energy trader investing at least $ 500 m over next 12 months . The new assets include energy , retail and industrial energy businesses in South Africa and Botswana and provide an attractive downstream opportunity for Glencore .
Glencore has agreed with Off the Shelf to acquire 100 % of Chevron South Africa , and the entire issued share capital of Chevron Botswana for $ 500 m . The payment will be made in part from Glencore ’s own resources , with the energy trader investing at least $ 500 m over next 12 months . The new assets include energy , retail and industrial energy businesses in South Africa and Botswana and provide an attractive downstream opportunity for Glencore .