MPs ignite on black share of petrol projects
The EFF demands a 51% black share in upstream petroleum projects, contrasting with the 10% proposed in a new bill
15 August 2023 - 17:48
UPDATED 15 August 2023 - 23:30
Strong views have been expressed over the level of black and state participation in upstream petroleum projects, two of the most critical aspects of draft legislation now before parliament.
The EFF says the black share should be 51% instead of the 10% provided for in the Upstream Petroleum Resources Development Bill, while the DA insists that anything higher than 20% for the state’s free carried interest in petroleum projects will deter investment. The department of mineral resources & energy is adamant that the 10% black share is appropriate...
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