Incorrect!
There are processes in place to ensure the procurement process is fair and somewhat transparent, but following them is not for a high-flying executive like yourself. In this case, a key irregularity is one of the organisations has no track record in financing deals of this size or immediate access to such a large amount of funding. It’s run by a well connected “political operator” though. So you’re going to encourage the two winning bidders to create a joint venture, but inexplicably give the new company part of the third contract to restart the refinery as well![31] Still - maybe you did the right thing. In July 2024 it was discovered that Equator Holdings, the organisation run by that political operator, had been liquidated because for several years it failed to pay the R35K a month salaries at a local football club it owned[32]. Thus the whole multi billion rand deal is now in jeopardy. You couldn’t make it up…
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Did we mention one of the key players in this deal is Gazprombank, the Russian bank associated with oil and gas investments? So there’s also the issue of potential sanctions busting activities given that the invasion of Ukraine has made that country a pariah. Still - those geopolitics have increased fuel prices to ridiculous levels at the pumps, even as wholesale costs have dropped, so we’ll get a good price from any new gas mined!
References
- 31Media reports on the founding of EquaTheza,
https://www.dailymaverick.co.za/article/2024-01-23-petrosa-taps-notorious-political-operator-for-massive-offshore-gas-deal/ - 32Own goal! PetroSA’s multi-billion rand offshore gas deal thwarted by unpaid soccer player,
https://amabhungane.org/own-goal-petrosas-multi-billion-rand-offshore-gas-deal-thwarted-by-unpaid-soccer-player/
