Petroleum Africa
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Wednesday, November 22, 2017
South Africa is looking for aid in constructing a new 400,000 bpd refinery. According to David Mahlobo, the country’s energy minister, South Africa wants the national oil companies of its BRICS partners help with the funding that would be structured by senior debt and equity.
South Africa’s BRICS partners are Brazil, Russia, India, and China.
The refinery, the brainchild of state-run PetroSA, has been on the drawing board for close to a decade. PetroSA’s planned refinery at Coega, dubbed Project Mthombo, has seen many false starts over the years and its price tag has only grown.
“South Africa is at a tipping point regarding its refining capabilities,” Mahlobotold energy committee of the parliament. “The refinery can be structured with senior debt and equity.” Mahlobo told parliament’s energy committee.
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