South Africa oil map, March 2022, downstream crop

South Africa looks to foreign investors to restore lost refining capacity

In depth
Issue 508 - 25 Jun 2024 - By Tonderayi Mukeredzi | 7 minute read

South Africa has lost about 50% of its oil refining capacity since 2020, with three key refiners taken off line, leaving the country heavily reliant on imports for refined fuel products. Faced with a growing mismatch between local demand and supply, the authorities have been trying to encourage local and foreign investors to revive and expand the idle refineries and build new ones to ensure energy security, writes Tonderayi Mukeredzi.

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