Cabinet approves plan to merge PetroSA, SFF & iGas into one company

In its meeting on Wednesday, Cabinet was briefed on the ongoing work to rationalise the oil and gas subsidiaries of the state-owned diversified energy company, the Central Energy Fund.

The PetroSA GTL refinery at Mossel Bay. Picture: petrosa.co.za

JOHANNESBURG - Cabinet on Thursday approved the planned appointment of a restructuring company to merge PetroSA, the Strategic Fuel Fund (SFF), and iGas into one national petroleum company.

In its meeting on Wednesday, Cabinet was briefed on the ongoing work to rationalise the oil and gas subsidiaries of the state-owned diversified energy company, the Central Energy Fund (CEF).

The appointed company would find the most viable model of this single entity.

The plan was in line with President Cyril Ramaphosa’s announcement made in his State of the Nation Address earlier this year in February.

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