South Africa’s monthly petroleum product imports are expected to as much as triple by next year from pre-pandemic levels as domestic refineries close, according to energy consultant Citac.
Africa’s biggest industrialised nation already relies on imports to meet up to 60% of its fuel demand, and any increase in shipments will require improvements to existing storage facilities, ports and pipelines, Citac said in a report.
“These closures are significant and mostly in response to the CF2 regulations,” Citac said, referring to the policy. The shutdown of the Engen oil refinery, a lack of feedstock for state-owned PetroSA’s gas-to-liquids plant and an explosion at Glencore Plc’s Cape Town refinery have all affected capacity already curtailed by the pandemic. Sapref, the country’s biggest plant, owned by Shell Plc and BP Plc, stopped operations as it awaits a sale.
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