Tag: capital generation

Total S.A.'s (Total) initial discovery just over two years ago of gas concentrate in the Outeniqua Basin (Brulpadda prospect, Block 11B/12B) offshore South Africa, a deposit reportedly containing around one billion barrels of oil equivalent, has placed a spotlight on the potential of South Africa's upstream oil and gas industry.

The South African economy is facing a savings crisis. Citizens cannot afford to save enough money to drive the necessary capital generation for investment because of the suffocating effects of the government’s economic policies, such as high tax rates and levies on certain products like fuel.