Everything Mining Industry Country Focus How to Guide
Intelligence on industry and mining

CEF, SFF welcome High Court decision on sale of strategic crude oil reserves

The Central Energy Fund (CEF) and its subsidiary, the Strategic Fuel Fund (SFF), have welcomed the Western Cape High Court's judgment in reversing the 2015 sale of South Africa's strategic crude oil reserves. The CEF stated that the "landmark victory" was the culmination of a series of court proceedings that was initiated by the CEF and the SFF after it was determined that a former SFF executive had "unlawfully concluded a series of agreements, which resulted in the disposal of South Africa's ten-million barrels of strategic crude oil reserves.

Latest content...

Register for daily alerts on news as it breaks in various key economic sectors - Click here to register