S.Africa ready to re-evaluate new oil and gas law - mines minister

CAPE TOWN, July 15 Tue Jul 15, 2014 10:11am EDT

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CAPE TOWN, July 15 (Reuters) - South Africa may reconsider a new oil and gas law to ensure that investors can be make profits while securing a place for the state in the sector, Mineral Resources Minister Ngoako Ramatlhodi said on Tuesday.

Parliament passed the law in March, giving the state a 20 percent free stake in new gas and oil exploration and production ventures and alarming operators such as Total and Exxon Mobil, which are looking to explore in South Africa. (Reporting by Wendell Roelf; Editing by Ed Stoddard)