South Africa Cabinet Approves Draft Policy For 60-Day Fuel Reserve
State-owned SANPC will hold the crude and fuel stockpile, rising toward 90 days, following a 2024 study that found gaps.
- Cabinet approved the draft Strategic Petroleum Stocks Policy at its July 1, 2026 meeting.
- South African National Petroleum Company will build and manage the crude and refined product reserve.
- A 2024 government study found gaps in existing stockholding and flagged weak domestic refining capacity.
Why it matters: Government stockpiles exist because markets fail exactly when a country needs oil most.
GCIS - Statement on the Cabinet meeting of Wednesday, 1 July 2026 (South African Government) ↗ · Jul 13, 20267/13/26 · ✓ Checked✓ Check