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PetroSA is considering a new oil refinery in Port Elizabeth to meet the country's increasing energy demands.
PETRO SA's Thabo Mabaso said they went to Parliament today and presented their corporate plans until the year 2017.
He said among the initiatives the parastatal is embarking on is the looking of a possibility of establishing a crude oil refinery in Port Elizabeth.
He said they are still in the very initial stages and conducting a feasibility study...this could take up to two years.
In May 2012, PetroSA signed a joint study agreement with China's state-owned energy and chemical conglomerate Sinopec Group.
The agreement defined the process by which PetroSA and Sinopec would shape the business case for Project Mthombo, the initiative to construct a world-class crude oil refinery at Port Elizabeth’s Coega Industrial Development Zone.
Commissioning of the Coega refinery is scheduled for the period between 2018 and 2020.
