New CEO for SA's state oil company

2020-01-22 11:26

Pragasen Naidoo previously served served as group chief operations and business development officer at the Central Energy Fund.

Shooting of top Hawks cop may affect, delay major PetroSA corruption cases

2019-11-11 15:41

Hawks Colonel Christelle Stemmet, who was shot and killed at her Cape Town home, was leading probes into major corruption scandals at state-owned petrochemical company PetroSA.

Forensic probe into 2015 sale of strategic fuel stocks complete - Mantashe

2019-07-10 06:01

The probe concerns the sale of 10.3 million barrels of oil by the Strategic Fuel Fund in late 2015 when global oil prices were at a historic low.

PetroSA can survive 'beyond today' thanks to emergency plan, MPs hear

2019-03-12 17:54

Turning around state oil company PetroSA is one of the biggest priorities of its parent company, the Central Energy Fund.

Hawks probing PetroSA staffers for fraud, corruption

2018-06-01 07:34

PetroSA is at the centre of a fresh storm, as senior staffers have been accused of fraud and corruption in a case now being investigated by the Hawks.

PetroSA saved (for the moment)

2018-04-22 05:56

State-owned oil company PetroSA was been saved from an imminent R7.4 billion cash crunch by the minister of environmental affairs, Edna Molewa.

CEF to probe PetroSA, SFF deals and will seek legal action over fuel sale

2017-10-24 06:01

The Central Energy Fund's board wants a court to declare an illegal sale of SA's strategic oil reserves void, and plans to launch a full-scale probe into the Strategic Fuel Fund and PetroSA, a source told Fin24.

Wait on for veil to lift on SA secret fuel sale

2017-10-03 07:02

The Central Energy Fund board chairperson says the fund is still calculating how much SA lost when 10.3 million barrels from its strategic fuel reserve were sold off in 2015.

Ailing PetroSA clinches deal with Russian exploration firm

2017-09-04 16:38

PetroSA has signed a deal with Russian exploration company Rosgeo which is expected to bring oil and gas development of about $400m to South Africa.

Relief for financiers as loss-making PetroSA gets new board

2017-07-06 10:40

The Central Energy Fund has appointed an interim board for PetroSA as financiers seek assurances after PetroSA’s botched Project Ikhwezi made a R14.5bn loss.


PetroSA: $359m Rosgeo deal has been a long time coming

2019-11-20 05:00

PetroSA acting CEO Bongani Siyadini says a farmout contract between the state oil company and Rosgeo has taken longer than usual to finalise.

Zuma-linked lawyer, former PetroSA boss in court on fraud, theft charges

2019-11-10 08:58

Two men, a lawyer with strong links to the Zuma family and a former CEO of PetroSA, will appear in court this week on charges relating to sweeping allegations of corruption at the state-owned company in 2011 and 2012.

Net closing on those linked to the illegal sale of key crude oil stock, MPs hear

2019-03-13 06:15

Investigations into the disposal of strategic crude oil stock in December 2015 are expected to draw to a close soon, members of Parliament heard.

PetroSA still facing uncertain future - Auditor General

2019-02-12 18:00

Low crude oil prices are taking their toll on national oil company PetroSA, and the Auditor General has raised concerns over its ability to continue operating in future.

PetroSA must move from ICU to normal ward before it becomes healthy, says Radebe

2018-05-08 14:37

Energy Minister Jeff Radebe supports the Central Energy Fund's turnaround strategy to nurse PetroSA back to health.

EXCLUSIVE: PetroSA said to be on verge of promoting previously suspended officials

2018-04-13 18:02

The state owned company has suffered various setbacks including a R1.4bn loss in the 2016-17 financial year and the resignation of board members in the midst of its financial bedlam.

Caught between a rock and Zwane

2017-10-08 06:00

Facing insolvency, the Central Energy Fund is being dogged by a dodgy fuel deal and uncertainty over the role of the resources minister.

PetroSA makes R1.4bn loss in 2016/17

2017-09-29 19:04

PetroSA’s net loss of R1.4bn in the 2016/17 financial year casts doubt on whether the state-owned entity would be able to continue operating, the Auditor General says in a report.

Minister denies CEF board suspension

2017-08-01 15:51

Energy Minister Mmamoloko Kubayi has denied that she had suspended the Central Energy Fund's board members.

PetroSA on the brink after R14.5bn loss

2017-06-25 06:02

Financiers seek assurances in the wake of the gross mismanagement and incompetence that led to Project Ikhwezi’s collapse.

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