ANCYL supports new oil refinery at Coega; opposition from BP

2010-02-26 12:51

THE ANC Youth League has said it is “fully behind” PetroSA’s

efforts to develop a new oil refinery at Coega, near Port Elizabeth.

The league says it fully supports the proposed 400?000 barrel-a-day

crude oil refinery, in spite of “the lame opposition” from oil company BP.

“In supporting this brave and courageous initiative by the

state-owned PetroSA, we reject and dismiss BP’s attempts to oppose the

establishment of the oil refinery.

“BP’s opposition to the initiative is clearly informed by their

obsession with profit maximisation, at the expense of the country’s economic

development,” the league adds.

BP, it says, is not interested in creating more jobs in SA.

The league is referring to BP’s comments last week urging

government to consider expansion of existing refineries before embarking on the

construction of a refinery at Coega.

BP also said it made no sense to burden South African taxpayers

when better and cheaper options were available “than building a new, expensive

refinery”.

According to the ANCYL its support for PetroSA’s establishment

falls squarely within the league’s 23rd national congress resolution that the

state should play a significant and leadership role in the development of

amongst others, minerals and petroleum industries.

In a separate statement yesterday, PetroSA said a new refinery

would be in the best interests of South Africa.

“Although we recognise that BP may not be comfortable with fresh

competition, building a new crude oil refinery would certainly be in the best

interests of South Africa,” PetroSA president and chief executive Sipho Mkhize

said.

BP Africa officials told Sapa that comment would be provided later

today.


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