• Restoring sanity to SA

    We should be driven by the thought that SA belongs to all who live in it, says Solly Moeng.

  • Clamouring for action

    2017 will see battles between politicians as well as those tired of politicking, says Daniel Silke.

  • Realistic dreaming

    Preparation and sound advice will turn entrepreneurial dreams into reality, says Ian Mann.

All data is delayed
Loading...
See More

Equatorial Guinea to sell oil to Swaziland

Jan 13 2012 08:18
Reuters

Johannesburg - Equatorial Guinea has agreed to supply Swaziland with crude oil, but the product will first need to be refined in South Africa, Business Report said on Friday.

Swaziland, which currently sources all its fuel products from South Africa, does not have its own refinery.

Quoting government officials, the paper said the deal was clinched during a meeting between Equatorial Guinea President Teodoro Obiang Nguema Mbasogo and King Mswati III of Swaziland.

There were no details on the volume of crude oil to be sold to Swaziland or how the impoverished country would pay for it.

Swaziland is Africa’s last absolute monarchy, which analysts said has been run for years almost as a personal fiefdom by King Mswati III and now teeters on the brink of financial collapse.

South Africa has offered a bailout loan but Swaziland has refused, seeing attached conditions calling for political reforms as too stringent, government officials said.

 
swaziland  |  equatorial guinea  |  oil

NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Comments have been closed for this article.
 

Company Snapshot

We're talking about: SMALL BUSINESS

From fossils to finance – that’s been the career trajectory of Dr Merrill van der Walt, a palaeontologist until recently. She is now a statistician with a difference.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

SA's avoidance of junk status by rating agencies: Moody's and Fitch

Previous results · Suggest a vote

Loading...