Draft Strategic Petroleum Stocks Policy

The Department of Mineral and Petroleum Resources has published the Draft Strategic Petroleum Stocks Policy for public comments. "The policy aims to strengthen South Africa’s energy security and minimise the economic impact of supply shocks. The policy proposes a mixed stockholding model under which the South African National Petroleum Company (SANPC) will maintain strategic reserves equivalent to 60 days of net imports for both crude oil and refined petroleum products, with a phased increase to 90 days over the long term. The policy will contribute to safeguarding national energy security, improving resilience against global supply shocks and supporting sustainable economic growth."