South Africa’s ‘Vague’ Oil-Law Changes Seen Deterring Investment
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South Africa risks deterring investors in its oil resources by proposing “vague” amendments to mineral and energy legislation, according to New York-based consultants Horizon.
“Over the last two years, South Africa has witnessed unprecedented interest from international oil majors,” Anne Fruhauf, director of Africa energy at Horizon, said by e-mail. “But the Mineral Resources Development Act amendments could nip this nascent boom in the bud.”