Petroleum Oil and Gas Corporation of South Africa (PetroSA) Interim Chief Executive Officer (CEO) Joins African Energy Chamber’s G20 Forum Amid South African National Petroleum Company (SANPC) Formation, Operational Restructuring

Sesakho Magadla, Interim CEO of the Petroleum Oil and Gas Corporation of South Africa (PetroSA) will speak at the upcoming G20 Africa Energy Investment Forum – hosted by the African Energy Chamber (AEC) (https://EnergyChamber.org/) on November 21, 2025 in Johannesburg. As a follow-up to African Energy Week and a precursor to the G20 Leaders’ Summit, the forum provides a strategic platform for PetroSA to engage global investors as the company strives to revitalize legacy assets and advance fuel security across the country.

Magadla’s participation comes as the company undergoes a strategic restructuring, with the entity being incorporated into the newly-established South African National Petroleum Company (SANPC). The launch of the SANPC signals an important shift in South Africa’s oil and gas landscape and is expected to significantly improve the sector’s operational capacity and efficiency. The SANPC officially opened for business in April 2025 as a fully-fledged subsidiary of the Central Energy Fund (CEF), formed through the merger of three state-owned entities – iGas, PetroSA and the Strategic Fuel Fund – and operating under a lease and assignment model. The move allows the SANPC to lease select assets from the merging entities while isolating PetroSA’s legacy liability and the operational challenges at its gas-to-liquids (GTA) refinery in the Western Cape.

For PetroSA, being incorporated into the SANPC enables the company to enhance its operational efficiency while making its assets more commercially viable. A key focus is the Mossel Bay GTL refinery which has been closed since 2020 due to lack of feedstock. When operational, the refinery produces high-value products from methane and condensate, including petrol, diesel, kerosene, propone and more. Work is currently underway with the support of the CEF to reinstate the facility and resolve its operational constraints, with the most pressing challenge being finance. While Russian gas giant Gazprom International secured a contract to revitalize the facility in 2023, the contract has since collapsed, underscoring the need for a new investment partner to restart operations. The G20 Forum offers a strategic platform for PetroSA to engage global investors, aligning its refinery revitalization plans with Africa’s broader natural gas and industrialization agenda.

“Natural gas has a critical role to play in South Africa’s energy future, not only as a cleaner, more efficient fuel but as a catalyst for industrial growth and energy security. Revitalizing the Mossel Bay GTL refinery represents more than just restarting an asset; it’s about building a bridge between South Africa’s upstream gas potential and its downstream fuel needs. With the right investment and policy support, PetroSA can position the refinery at the heart of a diversified and resilient energy mix that powers industries, creates jobs and strengthens national self-sufficiency,” states NJ Ayuk, Executive Chairman, AEC.

Through high-level dialogue and dealmaking, the G20 Forum supports PetroSA’s objective to attract capital for feedstock supply, infrastructure upgrades and downstream integration – all of which are key to ensuring South Africa’s sustained fuel supply, reducing reliance on imports and reinforcing the country’s resilience against global energy disruptions. The forum also offers a strategic opportunity for South Africa to engage international energy companies to advance offshore gas projects, most of which have been stalled due to environmental opposition. For the country’s energy future, the development of upstream natural gas – and its associated downstream infrastructure – represents a top priority, paving the way for enhanced fuel access and sustainable economic growth.

To register for the Forum click here (https://apo-opa.co/4oZJ0ZC).

Distributed by APO Group on behalf of African Energy Chamber.