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South Africa cabinet approves merger

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Hydrocarbon Engineering,

South Africa’s cabinet recently approved a move to merge three of the country’s state-owned oil and gas firms to form a single national oil company.

Reuters reports that PetroSA, iGas and the Strategic Fuel Fund (SFF) will be merged to form the National Oil Company.

South Africa’s President Cyril Ramaphosa has previously pledged to fix the country’s state-owned enterprises (SOEs), which are a major drain on the country’s public finances.

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