Mineral Resources and Energy minister Gwede Mantashe has said that the deal to have Russian state-owned company Gazprombank invest in
technically insolvent PetroSA for a share of its profits to restart its mothballed gas-to-liquid fuel refinery should be the preferred way for government to deal with embattled SOEs. Mantashe said that this is because it would not entail the sale of state assets. [The Central Energy Fund’s recent report has revealed that in 2022/23, embattled PetroSA earned R24.5 billion in revenue, mainly by selling diesel to Eskom at high margins.
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