The Central Energy Fund (CEF) sent communications to its subsidiary PetroSA in August warning it would withdraw financial support for key projects due to a lack of implementation progress.
This is believed to be one of the reasons PetroSA’s board placed CEO Xolile Sizani on suspension, pending an investigation. It is understood there were numerous clashes between the PetroSA board and Sizani during his eight-month stint over the matter and other issues, including his crafting of a new executive structure not approved by the board. ..
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