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Bloomberg
South Africa’s Department of Mineral Resources has issued a moratorium on new applications for petroleum exploration and development in order to change its licensing process.
The restriction won’t affect applications received before the date of publication of the notice, which appeared in the online version of the Government Gazette on June 28 and was signed by Minister Gwede Mantashe.
The restriction “is primarily aimed at using licensing as a tool to achieve the transformation ideal†and fast-track exploration, Petroleum Agency South Africa, the country’s oil and gas regulator, said in a statement cited by the department.