THE AFRICA TIMES | SOUTH AFRICA — South Africa has proposed a new strategic fuel stocks policy. This initiative would require both state and private fuel companies to maintain mandatory reserves, aiming to strengthen the nation’s preparedness for global oil supply disruptions.
Policy Details
The draft policy, issued by the Department of Mineral and Petroleum Resources for public consultation, arises amid growing concerns over energy security. Tensions in the Middle East continue to disrupt shipping through the Strait of Hormuz, which is vital for global oil and liquefied natural gas exports.
According to the proposal, all licensed oil and fuel wholesalers and importers must hold fuel stocks equivalent to 21 days of supply. Seventy percent of these reserves would consist of crude oil, while the remaining 30% would comprise refined products such as diesel and jet fuel.
