Shell just agreed to sell 124 years of South Africa to Abu Dhabi. 580 stations, $1 billion, one signature. Not distress, Shell is chasing fatter margins elsewhere. ADNOC already produces the crude and refines it. Buying this network means it can now distribute and sell that same fuel through 580 working stations, instead of building new retail infrastructure from scratch and waiting years for a licence. #GlobalArbitrage #Shell #ADNOC #SouthAfrica #Africa