PetroSA (The Petroleum, Oil and Gas Corporation of South Africa (SOC) Ltd.) is the national oil and gas company (NOC) of South Africa. Its main activities are the extraction of natural gas from offshore fields about 89 km from Mossel Bay, the production of synthetic fuels from this gas through a gas to liquids (GTL) process, and the extraction of crude oil from oil fields off the South Coast of South Africa.[1] The GTL Refinery is located in Mossel Bay. Its capacity is about 45 000 bpd and processes both the gas and condensate to produce liquid fuels and chemicals. The company is also involved in the exploration for and development of new sources of oil and gas.
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| Company type | Public |
|---|---|
| Industry | Oil and gas industry |
| Founded | 1965 |
| Headquarters | , |
Key people | Nkululeko Poya (Chairman) Sandisiwe Ncemane (Group CEO) |
| Products | Petroleum Natural gas Petroleum products |
| Revenue |  R 13.7 billion (2020) |
 R 334 million (2020) | |
| R (5.579 billion) (2020) | |
| Total assets | R 14.394 billion (2020) |
| Total equity | R (4 464) billion (2020) |
| Owner | Government of South Africa |
Number of employees | 1486 (2020) |
| Parent | Central Energy Fund (SOC ) Ltd |
| Subsidiaries |
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| Website | www |
PetroSA was formed in January 2002 from the merger of three previous entities: Mossgas (Pty) Limited, Soekor (Pty) Limited, and parts of the Strategic Fuel Fund Association. Soekor was divided into parts to provide staff for PetroSA and also for the Petroleum Agency of South Africa, otherwise known as PASA. Here are some of the key milestones leading up to this historic merger:
Soekor Pty Ltd. (from Suidelike Olie Eksplorasie Korporasie; 'Southern Oil Exploration Corporation') was South Africa's national oil company until 2002, when it was merged with Mossgas Pty Ltd to form PetroSA.[5] Soekor was the operator and developer of the first oilfield development in South Africa, the Oribi field discovered in 1990.[6] Soekor owned 80% of the field's exploration licensing.
Petroleum Agency of South Africa (PASA) is the state-regulator in the field of on-shore and off-shore oil and gas exploration.[7] In June 2018 PASA imposed temporary licensing restrictions in order to reform the country's oil and gas exploration licensing system.[8]
In 2020, Cabinet approved for PetroSA to be merged with the Strategic Fuel Fund (SFF) and the South African Gas Development Company SOC Limited (iGas) to form a new national petroleum company.[9]: 151
The company was implicated in a corruption scandal, dubbed "Oilgate" by the media, when it was reported that it had transferred R11 million to the ruling African National Congress in the run-up to the 2004 elections.[10][11]
For the year 2020, a loss of R5.6 billion was recognised, with total liabilities exceeding total assets by R4.5 billion.[9]: 151
| PetroSA leadership | |||
|---|---|---|---|
| Chairman | Chief executive officer | ||
| Term | Name | Term | Name |
| 2002-2010 | Popo Molefe | 2002-2003 | Mpumelelo Tshume |
| 2011-2012 | Benny Mokaba | 2004-2010 | Sipho Mkhize |
| 2013-2014 | Szwe Mncwango | 2011 | Yekani Tenza |
| 2015 | Gillian Nonhlanhe Jiyane | 01 Mar 2012-2015 | Nosizwe Nokwe-Macamo |
| 2016 | Bhekabantu Wilfred Ngubane | 2016 | Mapula Modipa |
| 2017-2018 | Nhlanhla Gumede | 2017-2018 | Kholly Zono |
| 2019–Present | Frans Baleni | 2018-2019 | Bongani Sayidini |
| 2020–2022 | Pragasen Naidoo | ||
| 2021 - Present | Nkululeko Poya | 2022 - Present | Sandisiwe Ncemane |