PetroSA seeks CEO to lead revamp

South Africa’s PetroSA is taking steps to end a legacy of mismanagement and continuing annual losses as it plans a project with TotalEnergies, according to its interim chairperson. The State-owned oil company has reported a string of losses, including a record R20.7-billion in 2019, and experienced a high turnover of executives through the same period. More recently, the government made plans to expand PetroSA’s profile, adding gas and fuel storage businesses as the nation sees an increase in oil and gas activity.