The sale of 10-million barrels of SA’s strategic fuel stocks is to be contested in court, acting Strategic Fuel Fund CEO Thabane Zulu has confirmed. The outcome of the case will determine whether the country has access to any strategic stocks at all. At one point it appeared that the sale was conditional on SA being able to buy back the stocks in case of need, but Zulu said this would be decided by the court. The acting CEO appeared before Parliament’s energy portfolio committee on Wednesday, along with board members and executives of the Strategic Fuel Fund’s parent company, the Central Energy Fund and sister company PetroSA. Zulu said in an interview after the meeting that a legal opinion with recommendations had been obtained from the legal team commissioned by former minister of energy Tina Joemat-Pettersson on which the court proceedings would be based. Last week the legal team was given the go-ahead to proceed. “So the process has started to give effect to the recommendations ...
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