SA moves to build 60-day strategic fuel reserve as government eyes greater energy security

Minister of Mineral and Petroleum Resources Gwede Mantashe speaking at the Fuels Industry Imbizo in Johannesburg on Wednesday.

South Africa is preparing to significantly strengthen its energy security through a new Strategic Petroleum Stocks Policy that will require the country to maintain strategic fuel reserves equivalent to 60 days of net imports.

This was announced by Mineral and Petroleum Resources Minister, Gwede Mantashe, at the Fuels Industry Imbizo on Tuesday.

Mantashe said the draft policy is now ready for Cabinet consideration before being released for public comment, marking a major step in government’s efforts to reduce the country’s vulnerability to global fuel supply disruptions.

If approved by Cabinet, the draft policy will be released for public consultation, paving the way for what could become one of the most significant reforms to South Africa’s fuel security framework in decades.