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Govt calls for review of fuel stocks

Johannesburg - The department of energy has called for an urgent review of SA's strategic fuel stock amid the current political crisis in north Africa and the Middle East and its effect on the oil price.

At an Energy Indaba in Sandton, Johannesburg, on Tuesday, Deputy Energy Minister Barbara Thompson said: "No one can deny the negative impact of what is happening in the Middle East. The price of oil has reached and gone beyond the $100 per barrel mark, a fact that puts a serious financial strain on our economy, which is slowly recovering from a recession.

"There is an urgent need to review the country's strategic fuel stock to ensure that the government, together with the oil industry, maintains reserves that will face whatever future oil challenges befall us," Thompson said.
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