Minister of Mineral and Petroleum Resources Gwede Mantashe has once again moved to assure South Africans that the country’s fuel supply is secure.
This comes as tensions in the Middle East and global energy markets continue to push international oil prices higher, raising concerns over potential disruptions to the country’s fuel imports.
Speaking in Parliament during the tabling of the Department of Mineral and Petroleum Resources’ 2026/27 budget on Tuesday, Mantashe said the government has introduced a temporary fuel levy reduction and is working to expand local oil refining and fully operationalise the South African National Petroleum Company.
“Whilst South Africans have welcomed this intervention, we are fully aware that it is not a permanent solution. The reality confronting us is that South Africa remains overly dependent on imported refined petroleum products,” Mantashe said.
“It is neither sustainable nor just for a country with significant mineral and petroleum potential, such as ours, to remain exposed to external supply shocks in this manner”.
He said in this era, where energy security is closely tied to national stability, the government cannot remain passive.
Mantashe said the budget is designed to respond to global uncertainty, protect South Africans’ livelihoods, ensure the country has a secure energy supply, and shield the economy from rising international fuel prices.
“In this era, where energy security is intrinsically linked to national stability, we cannot stand on the sidelines and be passive observers.
“This budget is our strategic response to these geopolitical realities, a commitment to protecting the livelihoods of our people, securing our energy future, and anchoring our economy against the rising tides of international instability and price volatility”.
Mantashe said the SANPC Bill must be fast-tracked to make the company fully operational, allowing the state to play a strategic role in South Africa’s oil and gas sector.
“It is imperative that we accelerate processing of the South African National Petroleum Company Bill (SANPC) to enable the full operationalisation of the SANPC as a strategic state-owned entity to enable meaningful and strategic state participation in the oil and gas sectors, as envisioned in the Upstream Petroleum Resources Development Act (UPRDA”.
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