The state is to have a 20%, cost-free interest and black participants a minimum 10% stake in all petroleum projects in terms of a draft bill gazetted by the department of mineral resources and energy on Tuesday.

The draft Upstream Petroleum Resources Development Bill has been published with cabinet consent for public comment, which is open until February 21. It has its origins in the Mineral and Petroleum Resources Development Amendment Bill, which was withdrawn partly so that petroleum resources could be dealt with in a separate piece of legislation...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now