New US sanctions on Gazprombank land PetroSA in a fix
Division of the Russian bank is financier of Mossel Bay refinery project
25 November 2024 - 05:00
PetroSA’s plan to revive its Mossel Bay refinery is in a precarious position after a decision by the US to sanction Russia’s Gazprombank, whose division is the project’s financier.
The state-owned oil and gas company last year picked Gazprombank Africa as a partner for its gas-to-liquid refinery, built to produce synthetic petrol from gas and gas condensate, saying at the time legal opinion had informed it such a deal would not fall foul of sanctions...
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