Minister of Mineral Resources and Energy Gwede Mantashe has reassured South Africans that the country’s fuel supply is secure, despite ongoing tensions in the Middle East. Mantashe confirmed that South Africa has eight million barrels of strategic fuel reserves, which will be used in the event of a real crisis.
According to Mantashe, the current petroleum supply security arrangements are adequate to withstand a sustained external supply shock. He stated that the supply is secured until the end of April, and that there is no reason to panic. The minister was responding to a question from ANC MP Fasiha Hassan, who asked about the adequacy of the current petroleum supply security arrangements.
Fuel Reserves and Supply
Mantashe explained that the country’s fuel reserves are sourced from various locations, including the Atlantic Basin and Africa. He noted that the LPG supply remains stable, as it is sourced from the Atlantic Basin. The minister also mentioned that the crude oil used in the country is sourced from Africa and the Atlantic Basin, not from the Middle East.
The minister added that the Cape Town refinery maintenance shutdown will conclude in April, which will add to the reliability of the supply in the country. Planned imports are covering the duration of the shutdown and connected measures.
Monitoring the Situation
Mantashe said that the department is monitoring the situation closely, and that they are receiving various reports about people hoarding diesel in anticipation of the increased price. He sent a stern warning to those who are engaged in the “illegal” hoarding of diesel, stating that it is unacceptable and will be addressed.
The minister’s comments come amid concerns about the impact of the Middle East tensions on the global oil market. According to the Department of Mineral Resources and Energy, the country’s energy security is a top priority, and the department is working to ensure that the country’s energy needs are met.
Some of the key facts about the country’s fuel supply include:
- The country has eight million barrels of strategic fuel reserves.
- The fuel reserves will be used in the event of a real crisis.
- The current petroleum supply security arrangements are adequate to withstand a sustained external supply shock.
- The LPG supply remains stable, as it is sourced from the Atlantic Basin.
- The crude oil used in the country is sourced from Africa and the Atlantic Basin, not from the Middle East.
