South Africa Plans to Increase Strategic Oil Reserves by 10 Million Barrels

According to Jin10, South Africa's Ministry of Mineral Resources and Energy (DMRE) announced a policy draft on July 9 to increase strategic oil reserves by 10 million barrels to address current inventory gaps. The proposed reserves would total approximately 36 million barrels, covering 60 days of national demand, with about two-thirds held as crude oil and the remainder as petroleum products. The government plans to establish financing mechanisms through the National Treasury and national oil company.
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