PetroSA has made headlines again this week. According to the press the state-owned oil company is set to suffer a projected devaluation of assets of R1.1 billion this financial year, in addition to the R14.5 billion in impairment it suffered in the 2014/15 financial year.
The PetroSA board, however, managed to escape an attempt to have it dissolved. A call was made to Minister of Energy Tina Joemat-Pettersson to fire the entire board.
Committee member, Motswaledi Matlala said, “On behalf of the committee I request of the minister: let’s fire the board and get new people who are serious about the lives of the people of this county.”
Interim board chairman, Bhekabantu Ngubane responded by saying that it would be sad day if the board were fired.
Adding to the company’s woes it was also reported in the press that an inexplicable decision by executives at the embattled oil company to feed oil into the state-of-the-art gas-to-liquid facility at Mossel Bay has led to a break down of the refinery, resulting in a two week shutdown and a R500 million loss in revenue.
Transnet has made headlines this week with parliament calling for a forensic investigation into Transnet and the Passenger Rail Agency’s multi-billion rand locomotive contracts.
A display commemorating the black South African troops who lost their lives aboard the SS Mendi in 1917 is currently open at the Centre for African Studies at the University of Cape Town.
According to the press the centre will also be hosting a multi-discipline conference focusing on the role that the soldiers aboard the SS Mendi played in the greater struggle for human rights and human dignity.
The SA Navy will just have to do more with less. That was the message delivered by Vice Admiral Mosuwa Hlongwana, Head of the SA Navy, in Simon’s Town this week.
According to the press the navy is experiencing more challenges, but with far less funding. Vice Admiral Hlongwana also stated that it is important to remember that the navy has 3,000km of coastline to patrol and traditional concepts would have to be challenged in driving the navy into the future.
The annual SA Navy Festival, in conjunction with Armscor, took place at East Dockyard in Simon’s Town last weekend. According to the press the event afforded the public the opportunity to tour naval ships and submarines, as well as view multi-capacity anti-piracy demonstrations.