Petroleum industry appeals to MPs not to mess with ‘win-win’ measures in contested bill
The Offshore Petroleum Association of SA. which represents major oil and exploration companies, has appealed to the National Council of Provinces’ select committee on land and mineral resources not to reject crucial amendments to the Mineral and Petroleum Resources Development Amendment Bill which relate to offshore oil projects. It says these amendments should be ring-fenced and not be subject to the legal dispute that has arisen over all the 57 amendments introduced by the Department of Mineral Resources after President Jacob Zuma referred the bill back to Parliament on both substantive and procedural grounds. The department’s amendments include the amendments related to the state’s 20% carried interest with cost recovery in offshore oil projects, which Opasa supports. The department’s amendments have become the subject of intense legal dispute as they were introduced after the referral, and some of them did not emerge out of the public participation process as required. Several l...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.