South Africa seeks new fuel suppliers

South Africa is seeking alternate suppliers of fuel as disruptions to imports from the Middle East pose the biggest threat to the nation from the war on Iran.

President Cyril Ramaphosa’s government is in talks to find more supply options after the conflict reduced traffic from the critical Strait of Hormuz to a trickle, Minister of Mineral and Petroleum Resources Gwede Mantashe said at a conference in Cape Town on Monday.

“For refined products we rely on the Middle East,” he said, adding that disruption to fuel shipments are the “biggest threat” to the country.

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South Africa has lost half its refining capacity in the past few years as plants closed because of accidents and a lack of investment.

Oman, Bahrain and United Arab Emirates are among South Africa’s top diesel suppliers as its share of imports grows.

Mantashe reiterated an earlier warning by the department that regulated prices will surge at the end of the month.

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