South Africa has unveiled plans to establish a strategic petroleum reserve of about 36 million barrels as part of efforts to strengthen the country’s energy security against global supply disruptions. The proposal, released by the Department of Mineral Resources and Energy for public consultation, aims to reduce the country’s exposure to international oil market volatility […]
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South Africa has unveiled plans to establish a strategic petroleum reserve of about 36 million barrels as part of efforts to strengthen the country’s energy security against global supply disruptions.
The proposal, released by the Department of Mineral Resources and Energy for public consultation, aims to reduce the country’s exposure to international oil market volatility and geopolitical crises.
Under the draft policy, South Africa plans to maintain emergency petroleum reserves equivalent to 60 days of national demand, with most of the stock held as crude oil and the remainder as refined petroleum products.
The government also intends to require fuel manufacturers and wholesalers to maintain additional reserves of refined products, including petrol, diesel and aviation fuel.
Authorities say the initiative will improve the country’s resilience to global supply disruptions and protect the economy from the impact of future energy crises.
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