Due for an oil change: South Africa's downstream oil sector
South Africa, the largest economy on the African continent, has a growing demand for oil that has outgrown its capacity to adequately supply its own needs. As the fuel deficit grows, there will be more reliance on imports in order to satisfy domestic demand - a trend which is increasingly detrimental to national fuel supply security. Oil demand growth is supporting an expanding network of retail service stations, mostly under the brands of the oil majors, all of which also have a refining...
Table of contents
A highly regulated oil market in a dangerously deficit position
Economic development will support rising vehicle ownership, increasing fuel demand
An ageing domestic refining portfolio that is unable to satisfy a large energy appetite