/ Nov 13, 2026
/ Nov 13, 2026

South Africa unveils plan for 36 million-barrel strategic petrol reserve

Published on

By

South Africa plans to build a 36 million-barrel petrol reserve as part of a new strategy to strengthen the country’s energy security and protect its economy from global oil supply disruptions.

 

According to Channels Television, the proposal is contained in a draft Strategic Petroleum Stocks Policy released by South Africa‘s Department of Mineral Resources and Energy (DMRE) for public consultation.

The move follows concerns over disruptions to global oil supplies during the recent Iran-US conflict, which pushed oil prices higher and slowed traffic through the Strait of Hormuz, a key global oil shipping route.

The draft policy states that South Africa, as a net importer of crude oil and refined petroleum products, remains vulnerable to international supply chain disruptions, price volatility and geopolitical tensions.

It proposes maintaining emergency petroleum reserves equivalent to 60 days of national demand, with about two-thirds stored as crude oil and the remainder as refined petroleum products.

The DMRE said the National Treasury and the state-owned South African National Petroleum Company would develop financing mechanisms to fund the acquisition and maintenance of the strategic reserves.

South Africa consumes around 27 billion litres of petroleum products annually, with the transport sector relying on liquid fuels for approximately 90 per cent of its energy needs. The government warned that any disruption in fuel supplies could have severe economic and social consequences.

The policy also proposes making it compulsory for licensed fuel manufacturers and wholesalers to maintain an additional 14 days of refined petroleum stocks, including petrol, diesel and jet fuel, to improve short-term supply resilience.

The government said the combination of state-owned strategic reserves and mandatory private sector stockholding would help cushion the economy against future global supply shocks.

South Africa remains a net importer of petroleum products, unlike Nigeria, which has reduced its dependence on imported petrol following increased production at the Dangote refinery.

You May Like

Leave a Reply

Your email address will not be published. Required fields are marked *

Most Popular

Must Read

Inspector-General of Police (IGP) Tunji Disu speaking at a youth leadership and security dialogue in Abuja.

2027 elections: IG cancels police leave, orders security crackdown

The Inspector-General of Police, Olatunji Disu, has cancelled the leave of police officers assigned to election security duties ahead of Nigeria’s 2027 general elections and ordered an intensified nationwide crackdown on banditry.   Disu also directed the immediate deployment of additional police personnel, operational vehicles and air support to communities affected by bandit attacks. He gave Commissioners of Police in affected states 72 hours to submit updated security threat assessments and operational requirements to Force Headquarters. The directives were announced on Wednesday during the monthly conference of strategic senior officers of the Nigeria Police Force in Abuja. The police chief acknowledged that bandit attacks remained ongoing in some states, stressing the need for intelligence-led operations and stronger collaboration with local communities. He directed the Deputy Inspector-General of Police in charge of Operations to coordinate the deployment of additional personnel and equipment to affected areas in consultation with the relevant police commands. Disu also instructed police commands to strengthen intelligence gathering by engaging traditional rulers, village heads, hunters’ associations and local vigilante groups. He said communities must have the confidence to provide information that could help security agencies identify and apprehend bandits. IG restricts police officers’ movement ahead of 2027 elections On preparations for the 2027 general elections, Disu announced the immediate cancellation of leave for all officers and men assigned to election security duties. He also directed Commissioners of Police and other senior officers to remain within their respective commands until the conclusion of the electoral process. According to him, any senior officer seeking to travel outside their area of responsibility must obtain express approval from Force Headquarters. The IGP further ordered police commands to verify the readiness of election security equipment, communication facilities, operational vehicles and protective gear, with reports due before the end of the week. He directed Commissioners of Police to establish direct coordination with the Independent National Electoral Commission, the military, the Department of State Services and the Nigeria Security and Civil Defence Corps. Disu warned officers against allowing politicians to use them to compromise the electoral process, facilitate thuggery or interfere with voters’ rights. He stressed that the police would remain non-partisan and provide equal protection to candidates, political parties, supporters and eligible voters, regardless of their political affiliations. He warned that officers found colluding with political actors or undermining the integrity of elections would face disciplinary action in accordance with the law. Police arrest 218 suspected bandits, rescue 95 kidnap victims Meanwhile, Disu disclosed that the police had arrested 218 suspects for banditry and terrorism since the last strategic officers’ conference. The Force also arrested 85 suspected armed robbers, 129 suspects for murder and culpable homicide, 59 suspected kidnappers and 120 suspected cultists. He added that police operations within the period led to the rescue of 95 kidnap victims and the recovery of 306 assorted firearms, 630 rounds of ammunition of various calibres and 116 stolen vehicles. The IGP commended officers involved in the operations, acknowledging their contributions to the achievements recorded by the Force. IG orders payment of fallen officers’ benefits Disu also directed Commissioners of Police to ensure the immediate payment of outstanding death benefits and entitlements owed to families of officers killed in the line of duty. He instructed commissioners to personally verify pending cases in their commands, stressing that families of fallen personnel should not be left without support. Additionally, he ordered a welfare audit across police commands to identify outstanding entitlements, accommodation challenges and other pressing welfare needs. The reports are expected to reach his office within 30 days. The police chief also urged senior officers to strengthen supervision, discipline and operational effectiveness while warning against corruption, extortion, abuse of authority and unlawful use of force.
Read more

Editor's Pick

Trending News

Newsletter

Enter your email address and receive notifications of news by email.

You have been successfully Subscribed! Ops! Something went wrong, please try again.

© 2026 GongNews. All Rights Reserved.