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

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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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Headlines

Assomption Island in the Seychelles, 2023.
Spotlight | Africa The high environmental risk of Al-Khayyat billionaires' luxury hotel diplomacy Inner Circle | Africa Rafael Grossi leverages solid African contacts in bid for UN top job
Rafael Grossi, Director General of the International Atomic Energy Agency, in New York, on 21 April 2026.
DRC Kinshasa's curious $205m debt to Abu Dhabi Algeria Stellantis and Renault's contrasting fortunes in Oran Congo French courts set to take 'presidential' Falcon off Commisimpex and its financiers Eritrea Eight candidates vie to become UN special rapporteur on human rights in Eritrea
Special Rapporteur on the Situation of Human Rights in Eritrea, Mohamed Abdelsalam Babiker in Geneva, Switzerland, in February 2024.
Ghana France's Ocea close to signing deal to supply Navy Morocco Mohammed VI launches two new hospitality ventures Ivory Coast, Niger From Niamey to Abidjan, Nab Consulting makes its mark in financial consulting sector Somalia NISA intel agency and aviation authority in power struggle at Mogadishu airport

Related topics to this article

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