CEF expects newly merged SANPC to be stabilised by this time next year

The Central Energy Fund (CEF) Group of Companies on March 14 provided an update on the merger of its subsidiaries Petro SA, iGas and the Strategic Fuel Fund, to create a single entity called the South African National Petroleum Company (SANPC).

In addressing the Portfolio Committee on Mineral Resources and Energy, CEF chairperson Ayanda Noah said the merger of the three entities was entering Phase 2, which is focused on stabilising the entity, following the completion of design and operationalisation activities in Phase 1.