The process of merging the State-owned entities of PetroSA, Igas and the Strategic Fuel Fund (SFF) into an “integrated national petroleum company” will formally begin on September 1, with six months having been set aside for the creation of a Newco that is “commercially viable”. All three entities are currently subsidiaries of the Central Energy Fund (CEF), with PetroSA in the throes of a long-running financial and operational crisis that has left it technically insolvent.
