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The Portfolio Committee on Energy has welcomed the resignation of the interim PetroSA chairperson.

“PetroSA is facing serious corporate, financial and governance issues. We therefore welcome the resignation of the chairwoman,” said Mr Fikile Majola, Chairperson of the Committee. He added: “As the Committee, we are still of the view that the entire Board needs to resign and be reconstituted in order to rescue the state oil company. We urge the Minister of Energy to take urgent action to save PetroSA. The entity has a turnaround strategy which needs to be implemented so as to overhaul the current situation that PetroSA is faced with.”

Last month, the Committee had a meeting with PetroSA wherein the Committee expressed its concerns that the entity was on the verge of collapse. In the engagement with the entity, the Committee expressed its view that it had lost confidence in the entire Board of the parastatal.

Issued by Parliamentary Communication Services on behalf of the Chairperson for the Portfolio Committee on Energy, Mr Fikile Majola