South Africa Oil & Gas Q4 2018
Given limited reserves, South Africa will remain a small producer of oil and gas until 2027. The country has a large butinefficient refining sector and the refined products output levels are set to decline over the coming decade due to lack ofinvestment. The recently proposed overhaul of South Africa's regulatory and fiscal regimes for the oil and gas industry could helpattract much needed investment, but the reforms are moving slowly. As a result, the country will become increasingly dependent onoil, gas and refined products imports during 2018-2027.
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