{"id":12147,"date":"2012-07-06T00:14:24","date_gmt":"2012-07-05T22:14:24","guid":{"rendered":"http:\/\/www.myza.co.za\/07\/s-africa-oil-firms-warned-to-boost-black-ownership\/"},"modified":"2012-07-06T00:14:24","modified_gmt":"2012-07-05T22:14:24","slug":"s-africa-oil-firms-warned-to-boost-black-ownership","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africa-oil-firms-warned-to-boost-black-ownership\/","title":{"rendered":"S.Africa oil firms warned to boost black ownership"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p><span class=\"articleLocation\">JOHANNESBURG, July 5<\/span> (Reuters) &#8211; Black ownership of fuel<br \/>\ncompanies operating in South Africa is far below state-mandated<br \/>\ntargets agreed in 2000, the energy minister said on Thursday,<br \/>\nwarning companies could lose their operating licences if they<br \/>\nfailed to make up ground.<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>Under the Petroleum and Liquid Fuels Charter of 2000,<br \/>\ncompanies committed to achieve 25 percent black ownership by<br \/>\n2010 to boost the participation of blacks in the Africa&#8217;s<br \/>\nbiggest economy.<\/p>\n<p><span><\/span><\/p>\n<p>But Energy Minister Dipuo Peters said an audit had found the<br \/>\naverage black shareholding was 18.9 percent instead of the<br \/>\nmandated 25 percent. Only Total had fully complied<br \/>\nwith this ownership obligation.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;Overall the findings of the audit are extremely<br \/>\ndisappointing,&#8221; Peters told journalists.<\/p>\n<p><span><\/span><\/p>\n<p>Other firms active in the industry include South Africa&#8217;s<br \/>\nstate-owned PetroSA, Shell, BP, Chevron,<br \/>\npetrochemicals group Sasol, and Engen, majority-owned<br \/>\nby Malaysian state oil group Petronas.<\/p>\n<p><span><\/span><\/p>\n<p>Peters said there was only 48 percent compliance with the<br \/>\ncharter, which also set targets on management control, oil<br \/>\nprocurement, skills development, participation of women, access<br \/>\nto joint infrastructure and retail networks, among others.<\/p>\n<p><span><\/span><\/p>\n<p>The minister said she would meet with the companies to set<br \/>\nagreed deadlines for them to meet these targets. She could not<br \/>\nspecify how much time they would be given.<\/p>\n<p><span><\/span><\/p>\n<p>But she warned that companies continuing to violate the<br \/>\ncharter could lose their licenses or have their activities<br \/>\ncurtailed, such as limiting their crude imports.<\/p>\n<p><span><\/span><\/p>\n<p>South Africa is a net importer of fuel and any disruption to<br \/>\nrefining activities and crude imports could hit supplies of<br \/>\nfuel. South Africa suffered shortages last year because of<br \/>\nstrikes and refinery problems.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>JOHANNESBURG, July 5 (Reuters) &#8211; Black ownership of fuel companies operating in South Africa is far below state-mandated targets agreed in 2000, the energy minister said on Thursday, warning companies could lose their operating licences if they failed to make up ground. Under the Petroleum and Liquid Fuels Charter of 2000, companies committed to achieve [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-12147","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/12147","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=12147"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/12147\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=12147"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=12147"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=12147"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}