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.”