The M&G understands that this is not the first time Eskom approached PetroSA with an emergency request for diesel. This has put added strain on PetroSA’s ability to provide diesel for the utility.
Last week, Eskom chairperson Jabu Mabuza revealed that the utility had spent R4.5-billion in six months on diesel. Its budget for diesel in the current financial year is R666-million.
But, significantly, the two companies from which PetroSA bought more than 32-million litres of diesel, European oil giant Vitol and its local empowerment partner, Vesquin, are at the centre of the controversial sale of South Africa’s crude oil emergency reserves. Part of the investigation involves an unexplained R20-million that was deposited in attorney Gamede’s dormant trust account at the time the deal was being negotiated and concluded.
The Central Energy Fund, the mother body of PetroSA and the Strategic Fuel Fund, is in court trying to reverse the sale and stands to lose billions of rands if it has to replenish the emergency stocks at current oil prices.
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