The main legislation governing the upstream industry is the Mineral and Petroleum Resources Development Act; the act was amended in March 2014. Under the new terms, the state is entitled to a 20% carried interest in all new projects, and the state may increase its interest up to 100%, either by acquisition or through entering production sharing agreements. In earlier drafts, state ownership was capped at 50%, but this clause was subsequently dropped. The pricing terms for stake acquisition are also unclear, fuelling concerns of asset fire sales, in which the government buys into prospective acreage at heavily discounted rates. Another area of concern surrounds the proposed disbandment of the industry regulator PASA and the wider discretionary powers afforded to ministers.

Key View

SWOT

Industry Forecast

Upstream Exploration

Upstream Projects 

Upstream Oil Production

Upstream Gas Production

Refining

Refined Fuels Consumption

Gas Consumption

Oil Trade 

Gas Trade

Industry Risk/Reward Index

Upstream SSA: Risks On The Rise 

Downstream SSA: The Global Underperformer

South Africa Downstream Oil & Gas Risk/Reward Index

Market Overview

South Africa Energy Market Overview 

South Africa Oil & Gas Infrastructure Overview

Competitive Landscape

South Africa Oil & Gas Competitive Landscape 

Company Profile

South Africa Oil & Gas Profile: PetroSA 

Regional Overview

SSA: Oil Production Faltering, As Gas Picks Up The Pace

Oil & Gas Glossary

Oil & Gas Methodology