Mantashe calls for bold oil and gas exploration to boost South Africa's economic growth

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Minister of Petroleum Resources and Energy, Gwede Mantashe, has called for an aggressive push to explore fossil fuels and monetising South Africa’s indigenous resources in a bid to plug the national fiscus and grow the economy by an average of 5%. South Africa has not been able to exploit its oil and gas potential to its fullest on the back of legal challenges and litigation raised by local and international environmental groups. Speaking at the opening of the 4th Southern African Oil and Gas Conference in Cape Town on Wednesday, Mantashe said the fact that the Budget had to be revised for the first time in the history of the democratic government because parties did not agree with the proposed increase in VAT amid a tax revenue shortfall, highlighted a…

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Star South Africa (Digital) - 1 Issue, 2025-03-20

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