https://www.engineeringnews.co.za
Africa|Energy|Resources
Africa|Energy|Resources
africa|energy|resources

South Africa’s oil reserves safe for now – Outa

28th June 2019

By: Simone Liedtke

Creamer Media Social Media Editor & Senior Writer

     

Font size: - +

The Organisation Undoing Tax Abuse (Outa) on Friday reported that the Central Energy Fund (CEF) and multinational commodity trader Glencore had agreed not to proceed with their case, which had been scheduled to be heard in the Cape High Court on Friday.

The CEF had filed an affidavit earlier this week, which halted the process that could have influenced the case regarding the sale of South Africa’s oil reserves.

Glencore – one of the companies that bought the oil reserves – had brought an application earlier this year that could lead to crucial reports, which could possibly influence the court’s decision, being excluded, Outa said in a statement on Friday.

Ahead of Friday’s court appearance, Outa wrote to Mineral Resources and Energy Minister Gwede Mantashe requesting his intervention. Outa said it had “not received any formal correspondence from the Ministry”.

“We believe that our call to the Minister has had an impact on this outcome,” the organisation added.

Despite the non-event, Outa chief legal officer Advocate Stefanie Fick said the agreement between the parties was “a huge achievement”, which was said to “highlight the role civil society plays in keeping government accountable and protecting the country’s interests over individual greed”.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Rittal
Rittal

Rittal is a world leading provider of top-quality integrated systems for enclosures, power distribution, climate control, IT infrastructure and...

VISIT SHOWROOM 
Multotec
Multotec

Multotec, recognised industry leaders in metallurgy and process engineering help mining houses across the world process minerals more efficiently,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 19 April 2024
Magazine round up | 19 April 2024
19th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.112 0.165s - 138pq - 2rq
Subscribe Now