Energy committee chairman backs secrecy for report on R14.5bn PetroSA impairment
The forensic report on the R14.5bn impairment by state-owned gas-to-fuel company PetroSA could not be discussed by Parliament’s energy committee in an open meeting, chairman Fikile Majola said Tuesday. The impairment arose from the failed Ikhwezi project to dig wells offshore for more gas. The urgency of the project was to ensure future gas supplies for the Mossgas refinery but it failed to deliver the results anticipated: whereas 242-billion cubic feet was expected, only 25-billion cubic feet was produced. PetroSA says there are 11 reports — including internal reviews — dealing with the impairment but they have been kept "under lock and key" because they contain commercially sensitive information, the release of which would prejudice its interests. PetroSA has obtained a legal opinion to the effect that releasing the information would not be in the company’s interests. The committee has been trying to get access to the forensic report for some time, and refused to entertain a Petro...
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