PetroSA Chief reveals company’s contribution in SA’s energy sector at Africa Oil & Power

The third day of Africa Oil & Power conference 2019 addressed many issues. The Chairman of PetroSA, Nhlanhla Gumede outlined the realities in the country's energy sector. He emphasized on the fact that South Africa is an oil consuming country and would remain as such. He also discussed how PetroSA contributes to the country's energy security.

"Energy security is a key issue in South Africa in the sense that a large part of our economy is dependent on energy. The oil side is even worse, in that half of our transport is actually oil based and remains oil based. I know that maybe in the future it will change to electric vehicles but, the need for oil will always be there," Nhlanhla Gumede said at Africa Oil & Power 2019.

According to him, French major Total's Brulpadda discovery has a big role to play in in balancing the country's energy model and consumption. "We have to say 'thank you' to Brulpadda, perhaps South Africa's reliance on oil may change. We remain a largely oil consuming country but we need to plan for eventualities that may emerge from that," he added.

The country can take various approaches including owning alternative resources in other countries by providing a possible solution for decreasing South Africa's dependence on oil imports. "That is the strategy that PetroSA embarked on, we have operated in Equatorial Guinea and gone as far as Egypt for that matter in Africa" he cited.

He also noted the importance of increased cooperation between national oil companies (NOCs) as as an effective way to build thriving and sustainable energy economies. "There must be some kind of collaboration between producer NOCs and largely consuming NOCs like ourselves," he revealed.