New Energy Minister to probe unauthorised sale of strategic fuel stock

New Energy Minister Mmamoloko Kubayi says an investigation will be launched into the unapproved sale of South Africa's strategic fuel stock last year.

The sale contradicted claims by former energy minister Tina Joemat-Pettersson that the disposal strategic oil reserves was merely rotation of stock.

Kubayi has succonded the department's director general (DG), Thabane Zulu, to act as CEO at the Strategic Fuel Fund (SFF).

She maintains that the move is within her legal powers and does not form any conflict of interest.

According to Kubayi, Zulu will ensure that disciplinary processes are followed at the SFF.

She explains how processes were flouted in the transaction.

In terms of the report, there definitely wasn't concurrency with Treasury.

Mmamoloko Kubayi, Minister of Energy

There is a breach, in terms of Public Finance Management Act (PFMA) law.

Mmamoloko Kubayi, Minister of Energy

Read: Energy Minister says gov must be more transparent on nuclear plans

The minister [was meant] to request the Treasury concur before... The letter was meant to be sent to the minister of Finance.

Mmamoloko Kubayi, Minister of Energy

She says her legal team will explore the department's options and investigate whether the sale contract can be nullified.

Kubayi reflected on the challenges facing the department, the turnaround strategy for oil company PetroSA and fresh plans for the nuclear build programme, after delivering the budget vote on Friday.

She spoke about the future of PetroSA, in light of mismanagement allegations at executive and board level.

Take a listen to:


Recommended

by NEWSROOM AI
Read More
New Energy Minister to probe unauthorised sale of strategic fuel stock

New Energy Minister to probe unauthorised sale of strategic fuel stock

Minister Mmamoloko Kubayi spoke about the sale of SA's strategic fuel stock without the sign off from National Treasury, and more.

Energy Minister says gov must be more transparent on nuclear plans

Energy Minister says gov must be more transparent on nuclear plans

Energy Minister Mmamoloko Kubayi reflects on South Africans' mistrust, plans for the nuclear build programme and the court ruling.

Kubayi delivers budget speech, its back to the drawing board for nukes programme

Kubayi delivers budget speech, its back to the drawing board for nukes programme

Department of Energy Minister Mmamoloko Kubayi tabled her budget speech on Friday.

Why SA no longer has strategic oil reserves

Why SA no longer has strategic oil reserves

John Maytham spoke to Business Day’s Carol Paton after new energy minister admitted selling off the country's oil reserves.

Energy minister gets the nod (for now) from DA shadow minister

Energy minister gets the nod (for now) from DA shadow minister

New Energy Minister Mmamoloko Kubayi has committed to fixing errors of her predecessor.

'Problem child' PetroSA lost R14.5 billion in a year (on a single project)

'Problem child' PetroSA lost R14.5 billion in a year (on a single project)

It also sold South Africa’s oil reserves when prices were at an eight-year low. New Energy Minister Mmamoloko Kubayi is livid.

Energy minister says she is willing to open up nuclear debate to the public

Energy minister says she is willing to open up nuclear debate to the public

New Energy Minister Mmamoloko Kubayi briefed Parliament’s portfolio committee on energy on Tuesday.

High Court rules SA nuclear deal unlawful and unconstitutional

High Court rules SA nuclear deal unlawful and unconstitutional

Earthlife Africa, which brought the case, says the judgment vindicates its argument that the process government has followed was unlawful.

IPP signing delay puts R58 billion private investment in renewables on hold

IPP signing delay puts R58 billion private investment in renewables on hold

Independent Power Producers (IPP) office for renewables says delay in signing ceremony as new energy minister to consult further.

Eskom's delayed renewable energy deal 'economic suicide', says expert

Eskom's delayed renewable energy deal 'economic suicide', says expert

Energy expert Ted Blom explains that the signing of power agreements with the renewable energy industry will sink Eskom further.

Popular articles
The weed debate continues

The weed debate continues

Callers on the Eusebius McKaiser Show discuss the ConCourt's ruling to decriminalize dagga.

Sapo CEO says Sassa deal will generate money to go back into the fiscus

Sapo CEO says Sassa deal will generate money to go back into the fiscus

CEO of the SA Post Office Mark Barnes explains how the Sassa deal will benefit grant beneficiaries and the state in the long run.

Heinrich Volmink could've been a good mayor but Dan Plato gets the livery collar

Heinrich Volmink could've been a good mayor but Dan Plato gets the livery collar

Prof Jonathan Jansen sings Volmink's praises as Dan Plato is elected to lead the City of Cape Town taking over from De Lille.

'We can barely enforce tobacco legislation, how will we to deal with dagga?'

'We can barely enforce tobacco legislation, how will we to deal with dagga?'

International law enforcement expert and former Drug Unit Commander Lobo das Neves says ruling opens a different can of worms.

Kaptein Kurt Darren on music and all the money he’s making from it

Kaptein Kurt Darren on music and all the money he’s making from it

Laat die dansvloer brand! The Money Show’s Bruce Whitfield interviews Afrikaans musician Kurt Darren.

ConCourt rules dagga legal for private use, but what is private?

ConCourt rules dagga legal for private use, but what is private?

Associate Professor of Law at Wits University James Grant says the ConCourt did not define what private use was.

17-year-old learner killed teacher for not allowing him to jump the food queue

17-year-old learner killed teacher for not allowing him to jump the food queue

Spokesperson for Education department says the fact that this learner is still in Grade 10 at 17 may indicate there is a problem.