The Department of Mineral and Petroleum Resources has signalled that reopening South Africa’s closed oil refineries will not provide a short-term solution to rising fuel prices and supply concerns, despite growing public debate around energy security.
Speaking alongside the Fuels Industry Association of South Africa, officials stressed that the country would remain exposed to global oil market volatility even if refining operations were restored.
Global Dependence Still a Key Risk
According to Fiasa CEO Fani Tshifularo, most of South Africa’s closed facilities are crude oil refineries, meaning they depend on imported feedstock. This limits their ability to shield the country from global price shocks.
“Even if those refineries were operational today, they would still be dependent on imported crude oil and subject to the same global price shocks,” he said.