26 APR 2013 00:00 - AMABHUNGANE REPORTERS
Whistleblowers and investigations reveal how bosses and well-connected service providers allegedly conspired to loot from the national oil company.
HSBC was cut loose for pricey, less experienced Harith
Zuma family rumour stokes PetroSA fire
The bulk of the allegations involve two mega deals: PetroSA's trumpeted acquisition last year of a company with crude oil acreage in Ghana, and PetroSA's confidential plan to buy petrol stations across South Africa.
Protests by PetroSA staff and board members, including its internal tax specialist, chief internal auditor, board audit committee chair and then-chief financial officer, culminated in November with Rain Zihlangu, then a director, laying a complaint with the police. He eventually submitted three affidavits.
PetroSA said this week that in its environment "swift decision-making and quick turnaround times are critical" but, "unfortunately, some deviations from our normal procurement processes have occurred".