DA calls for urgent investigation into illegal sale of strategic oil stocks

The Democratic Alliance have asked President Cyril Ramaphosa to initiate an urgent Special Investigation Unit (SIU) investigation into the illegal sale of South Africa’s strategic fuel stocks at below-market prices.

According to DA Shadow Minister for Energy, Gavin Davis, the sale of the country's strategic oil reserves dates back to December 2015.

He explains that about 10 million oil barrels kept for emergencies were quietly sold to three different private companies at a cost of $280 million which is below the market price.

This happened very quietly under former energy minister, Tina Joemat-Pettersson in 2015.

Gavin Davis, DA Shadow Minister for Energy

Initially when it was raised before Parliament, Pettersson claimed that it was not sold, but a rotation of stock, and it was later found to be completely false.

Gavin Davis, DA Shadow Minister for Energy

Davis spoke about a law firm's report that was never made public, which states clearly that Tina Joemat-Pettersson approved the deal in cahoots with the CEO of strategic fuel fund.

He says Minister of Energy David Mahlobo, told the Energy Portfolio Committee this week that the investigation, which was initiated by the Department, was a "shoddy" report.

He said the report is defective because there was a conflict of interest and they didn't follow the rules, which is to hear both sides of the story.

Gavin Davis, DA Shadow Minister for Energy

This is precisely why we have asked the Special Investigative Unit, which is an independent body, because we dont think it's right that the minister gets to decide on whether the report is right or not and it's a report we haven't even seen and it is not even in the public domain.

Gavin Davis, DA Shadow Minister for Energy

To hear the rest of the interview, listen below:


This article first appeared on CapeTalk : DA calls for urgent investigation into illegal sale of strategic oil stocks


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