Malema: Nationalise oil and gas discoveries

fin24.com

- fin24.com | a week ago

Government should nationalise oil and gas discoveries, such as the recent deep-water oil and gas find off the SA coast by French oil company Total, leader of the Economic Freedom Fighters (EFF) Julius Malema said.

Malema was speaking during the debate of President Cyril Ramaphosa's State of the Nation address, where he commented on the Total discovery announced last week.Subscribe to Fin24’s newsletter here The president dubbed the find as a "game changer".

"Whether you like it or not - we are extremely encouraged by the report this morning about the Brulpadda block in the Outeniqua Basin, which some have described as a 'catalytic find'.""This could well be a game-changer for our country and will have significant consequences for our country’s energy security and the development of this industry," Ramaphosa said last week.

READ: New oil find could be a 'game changer' for SA, says RamaphosaBut on Tuesday Malema said the president neglected to explain that 90% of the oil and gas discovery would benefit foreign companies.

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