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Jefferies, JP Morgan and Barclays threaten to cut off PetroSA's funding over Gazprombank deal

The public oil company is facing severe financial hardship and chose Gazprombank to help relaunch the Mossel Bay Refinery. It may lose funding from other foreign banks as a result. [...]
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In Focus | South Africa
State-owned PetroSA in death throes as national energy crisis persists

PetroSA has been fighting for survival since its Mossel Bay refinery shut in 2020. Its crisis has deepened in recent months, with a lack of funds preventing urgent maintenance work on high-risk infrastructure. Company documents seen by Africa Intelligence paint a grim picture of an almost bankrupt firm hobbled by inept management and an allegedly cavalier chairman, Nkululeko Poya.

LogoSubscribers only Energy, Politics 12.06.2023
PetroSA interim chairman Nkululeko Poya, Energy and Mineral Resources Minister Gwede Mantashe and President Cyril Ramaphosa.

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