The newly created South African National Petroleum Company will be the sole overseer of all the country's petroleum and fossil fuels.
All of South Africa’s fossil fuel and petroleum matters now fall into a single company, the South African National Petroleum Company.
claims will become a leading player in the country’s energy sector and is comprised of other Central Energy Fund bodies like iGas, PetroSA and the Strategic Fuel Fund. This new petroleum company is also expected to be the sole overseer of South Africa’s petroleum resources and fossil fuels. The formation of the new company was approved by Cabinet in 2020, with three subsidies of the CEF merging into one., and has been pushed for several years by Mineral Resources Minister Gwede Mantashe, who continues to support South Africa’s wholesale exploitation of fossil fuels, despite climate change pressures, both internationally and locally.
SANPC will now use a leasing model to select which of the assets of PetroSA it wants folded into itself until the rest of the problems facing PetroSA can be sorted out. Essentially, only the healthy parts of PetroSA will join SANPC while the unhealthy parts are “resolved.”
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
vivo South Africa lights up Miss South Africa 2024: Radiant celebration of SA womenMia le Roux made history as the first hearing-impaired woman to take the title.
Read more »
PARALYMPICS 2024: Para-athlete Mpumelelo Mhlongo wins gold in 100mThis is Team South South Africa's first medal in Paris.
Read more »
South Africa to Champion Global South Agenda During 2025 G20 PresidencyAs South Africa prepares to assume the presidency of the G20 in 2025, it aims to prioritize the developmental agenda of developing countries and emerging market economies. This follows a trend of leadership by Global South nations within the G20, including Indonesia (2022), India (2023), and Brazil (2024).
Read more »
South Sudan vs South Africa: Preview, How to Watch, H2H, Team NewsBafana Bafana will get another chance to claim their first win in the 2025 Africa Cup of Nations qualifying series as they battle South Sudan in their next game.
Read more »
SAS Manthantisi was at right place at wrong timeSA Navy chief, Monde Lobese, has presented the findings of a board of inquiry into the tragic incident on the SAS Manthatisi submarine.
Read more »
Economic co-operation is the bond that binds Africa and ChinaInitiatives under the FOCAC framework have shown that platforms promoting South-South co-operation can deliver substantial outcomes, the writer says. Initiatives under the FOCAC framework have shown that platforms promoting South-South co-operation can deliver substantial outcomes, the writer says.
Read more »