Question NW3794 to the Minister of Mineral Resources and Energy
08 December 2023 - NW3794
Mileham, Mr K to ask the Minister of Mineral Resources and Energy
(1) Since 2005, what (a)(i) Government bailouts, guarantees and/or other financial assistance has been provided to The Petroleum Oil and Gas Corporation of South Africa (PetroSA) and (ii) was the quantum thereof in each case and (b) conditions were imposed on PetroSA in order to secure such assistance from Government; (2) whether PetroSA complied with the conditions imposed in each specified case; if not, what consequences arose from the noncompliance; if so, what are the relevant details?
Reply:
- PetroSA has not received any government bailouts or financial assistance since the aforementioned period, i.e. 2005. PetroSA has in past requested funding assistance, either in the form of capital injection or loan guarantees, which has not been provided or advanced.
- In the absence of the government bailouts, guarantees and/or financial assistance, there are no conditions imposed to PetroSA for fulfilment as a result no consequence management applicable to PetroSA on this item.