OIL AND GAS INDUSTRY
How the future of SA's energy resources hinges on passing of slow-moving amendments
The bill needs to become law soon as investors turn their attention to frontier jurisdictions such as Mozambique
In the cabinet reshuffle of February 26, Jeff Radebe become the sixth energy minister in less than five years. He started off his tenure with a clear sense of appreciation for the dire state of affairs that multiple changes to the leadership and Machiavellian policy sways of the Department of Energy have caused. He did not waste time. He swiftly signed 27 power-purchase agreements that had been left in limbo for more than two years. These will cumulatively result in R56bn being invested in SA by independent power producers, 12,000 jobs being created and ultimately more than 2,200MW of clean energy being added to the grid. On May 16, Radebe delivered an upbeat and ambitious budget vote speech that was clearly aimed at restoring investor confidence and signalling that SA is committed to supply reliable and competitive energy to support the growth of the economy. He undertook to work towards providing certainty on the country’s energy infrastructure build programme by reopening the rev...