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South Africa's cabinet gives go ahead for single state-owned petroleum entity


12 Jun 2020

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South Africa’s cabinet on Thursday approved the merger of three state-owned oil and gas firms to form a single national oil company, as it tries to cut debt by reducing the number and increase the competitiveness of state-owned firms.

PetroSA, which runs the Mossel Bay gas-to-liquid refinery and explores for petroleum reserves, gas development company iGas and the Strategic Fuel Fund (SFF) which manages fuel reserves, will be merged to form the National Oil Company, the cabinet note said.

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Source: Reuters





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