PetroSA CEO fired

Cape Town - The board of South Africa's national oil company, PetroSA, said on Monday it had terminated the contract of chief executive Sipho Mkhize following a disciplinary hearing.

"The board of directors of PetroSA hereby confirms that following the outcome of a disciplinary process in respect of the CEO, Sipho Mkhize, his contract of employment has been terminated, with immediate effect," the company said in a statement.

PetroSA did not mention the nature of the disciplinary hearings but said it would seek to ensure minimal disruption at the firm. The company was not immediately available for further queries.

Mkhize could not immedately be reached for comment.

The company, which manages the state's commercial petroleum and gas assets, plans to build a 400 000 barrel per day refinery, with a final investment decision on the $9bn project expected by 2012.

PetroSA also operates one of the world's largest gas-to-liquids refineries at Mossel Bay in South Africa and holds exploration acreage in Gabon, Equatorial Guinea, Egypt, Namibia and Mozambique.

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