Page 13 - AfrOil Week 47 2022

AfrOil PROJECTS & COMPANIES AfrOil

Mantashe paid a visit to Saudi Arabia last month (Photo: Twitter/@GwedeMatashe1)

The project never came to fruition. Neverthe- country,” Mantashe told the National Assembly
less, during a visit to Saudi Arabia last month, on November 16.
Mantashe said that South Africa had again put In response to questions, the minister said
the refinery project back on the agenda, News24 that the country’s Strategic Fuel Fund (SFF) was
writes. building additional storage capacity for refined
This follows the destruction of key parts of petroleum in Saldanha and Mossel Bay to ensure
the Sapref refinery in Durban following floods the country has sufficient strategic stocks.
in KZN in April. Mantashe had hoped that the Of South Africa’s 10.3mn barrels of crude oil
state-owned Central Energy Fund (CEF) would stocks, 6mn barrels are due to be sold to cover
buy Sapref after joint owners Royal Dutch Shell the cost of the ZAR1.50 (about $0.09) price
and BP ceased operations in March. relief to consumers earlier this year, Mantashe
“We made efforts to revive Sapref, but it was told MPs.
subject to disaster in KwaZulu-Natal. We are The SFF would mitigate the risk of selling
now engaging a number of players. One is Saudi these stocks by increasing refined product
Aramco’s proposal to build a refinery in the stocks, he was quoted as saying by News24. ™

Circle K rolls out convenience stores at

Puma Energy stations in South Africa

SOUTH AFRICA THE US-based retail group Circle K has begun to expand more rapidly across Puma Energy’s
its rollout of convenience stores in South Africa, more than 112 service stations in South Africa.
using the Swiss-owned global energy company The rollout has the potential to create 2,000 jobs
Puma Energy’s forecourt network. in a year.
The first of the Circle K stores was launched In an interview with News24, Hamza Faroo-
at Puma Energy’s filling station at The Wilds in qui, CEO of the Millat Group, said The Wilds
Pretoria on November 24, with the second store was the “first American outpost of this global
to be added shortly in Krugersdorp, News24 brand” which has 16,000 stores globally in 28
reports. countries. He said the plan was to disrupt the
Johannesburg-based Millat Group, which convenience retail market in SA by offering con-
owns the licence for the Circle K convenience sumers something new and fresh.
store in SA, believes the US brand has the nec- According to Farooqui, the big oil majors in
essary ingredients to take on the country’s top South Africa were more concerned about selling
players in the forecourt market. gasoline and diesel, with a secondary focus on
According to Millat Group, 10 forecourt the convenience shopping offering available at
shops will be initially established with plans their forecourts.

Week 47 24•November•2022 www. NEWSBASE .com P13