Africa’s richest country has about half of its oil-refining capacity shutFinanceAfrica’s richest country has about half of its oil-refining capacity shut

Africa’s richest country has about half of its oil-refining capacity shut

Roughly 49% of South Africa’s refining capacity remains idle. Over the past five years, South Africa’s refining capacity has been cut in half due to a combination of accidents and underinvestment.

As a result, the country now relies on imports to meet over 60% of its fuel demand, according to Transnet SOC Ltd., the state-owned logistics firm.

In the first quarter of 2025 alone, South Africa imported 4.2 million tons of refined petroleum products, according to energy consultancy CITAC.

For the full year, imports are projected to reach around 15.5 million tons, nearly double Kenya’s estimated 8.9 million tons and significantly more than Nigeria’s 6.4 million tons.

Sapref, the country’s largest refinery, owned by the Central Energy Fund (CEF), is shut, taking 180,000 barrels per day out of production. Engen’s plant, which pumps out 120,000 barrels daily and is now owned by Vitol, is also shut.

Meanwhile, Sasol’s Natref facility, with a daily output of 108,000 barrels, is down due to an outage. Plus, PetroSA’s gas-to-liquid plant, also run by the CEF, has stopped working, taking another 45,000 barrels a day out of the picture.

Source: AFrica.businessinsider

Leave a Reply

Your email address will not be published. Required fields are marked *

Start your journey towards financial success today!

Unleash your financial possibilities by tapping into untapped opportunities and employing strategic planning, enabling you to maximize growth and achieve financial success.

Unlock your finance potential.

© 2023 HolyGrail Capital. All Rights Reserved.