PetroSA - 'It's a big mess'


FILE image of the PetroSA refinery in Mossel Bay, at sunset.

JOHANNESBURG - Another state-owned enterprise… another crisis.

Boardroom battles have left PetroSA in a state of chaos.

The state-owned enterprise is due to report billions of rands in losses for the 2014/15 financial year.

In addition, court papers show PetroSA is almost R15-billion in the red.

Several senior members have in recent weeks either been suspended or jumped ship.

All the uncertaintly has thrown the company&39;s ability to fulfill its mandate into doubt.

PetroSA, the Central Energy Fund and the Energy Department have all declined to comment on the status of the state oil company’s board.

At this stage, it&39;s even unclear who is running the company.

Parliamentary energy portfolio committee head, Fikile Majola, wants the entire board sacked and reconstituted, but others want them to face the music.

* Watch the full report by Nickolaus Bauer in the gallery above.