Silly Government Dreams: South Africa: Govt Takes Steps to Form National Oil Company – November 15, 2023

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Govt Unveils Plan to Form State-Owned Oil and Gas Company

Minerals and Energy Minister Gwede Mantashe has introduced a bill to create the South African National Petroleum Company, merging government-owned oil and gas entities, reports News24. This new entity will include existing companies like the Strategic Fuel Fund, PetroSA, and iGas, under the control of the Department of Mineral Resources and Energy (DMRE). The goal is to consolidate energy operations and assets, ensuring government control and potentially acquire stakes in private oil and gas exploration firms. The company aims to manage the entire fuel energy chain and develop South Africa’s energy infrastructure. Stakeholders have a 30-day window to comment on the proposal after its publication in the Government Gazette.

Source: https://allafrica.com/stories/202311150046.html



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