During the first half of 2015, PetroSA representatives had exploratory discussions with James Street Capital Partners (JSCP). In these exploratory discussions JSCP expressed an interest in partnering with PetroSA in the trading function of the business. In the three meetings held with JSCP representatives, PetroSA outlined the workings of its procurement policy and procedures, and the requirement to always adhere to these. The discussions with JSCP never materialised into any agreements.
No agreements were concluded with JSCP.
There are no ongoing discussions with JSCP.
PetroSA policies require the National Oil Company to perform a due-diligence probe on the company that is presenting a proposal. The policies also stipulate that such potential partners need to sign a Non-Disclosure Agreement. In the case of JSCP, their proposal could not be progressed as the process of verification was never finalised.