Podcast excerpt·FRI, 04 SEPT 2026 · 15:15:04–15:17:30 SAST
A short excerpt from BNC#9 | Baloyi Q&A: Trump tariffs, Hormuz fallout, SA's offshore gas, what Sasol's worth to SA's GDP on BizNews Radio. Watermarked for fair-dealing attribution, free to share.
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Before we go to the questions, I keep asking you this: the oil and gas resources off the shore. Have you got any update for us on how that's looking? That needs to be accessed. We're having almost everyone, whether it's Total, BP, I mean, the Qatar Energy saying, guys, I'll give you a stat that Total gave me. I mean, we were with the president in Paris almost three or four.
Weeks ago, and I had the privilege of speaking with the C of Total, but also I mean, with Emmanuel Macron. We had the opportunity to have a dinner with him, and they were talking about what's happening in Southern Africa. And they said, in a year, in Namibia, they drilled 20 exploration holes and they found in excess of, I think they said 3 billion barrels of oil and gas, and they're going to invest more than 20 to 30 billion dollars in extracting.
That. And they can see, I mean, because they've studied this thing, that there's potentially more resources in our site of the basin. But I mean, in 10 years, from the drill to one exploration, all of them are serious challenges and reforms that are required. Because when we think about energy, it has to be the energy mix. We have to be able to explore all energy forms. I mean, not only to bring pests down, but to make sure you have diversity of energy supply.
We are like number five in renewable energy, but renewable energy doesn't work on its own. I mean, we understand you need renewable energy, you need oil and gas, you need fossil fuels, but we have to find the perfect mix for all our energy systems. And then we should grow in sustainable energy. So the opportunity is there, the reforms, and I know that the DMRE is thinking hard about it, but that unfortunately requires
Cooperation in terms of what I call policy coherence, where you bring DMRE and DFFE together and then say, how do we make sure that we can safely, because that's what we need to do, we can safely explore all our energy resources and choose the right path for the country in the long term in terms of the energy mix. Because we're seeing lots of money flowing in from Namibia, we're seeing similar amounts of money flowing into Mozambique in terms of FGI and South Africa.
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