Buyer of SA's reserves wants his barrels of oil
The Department of Energy is in crisis as Taleveras Petroleum Trading has demanded to be given its fuel, which will leave the country poorer by 4-million barrels of oil
The Department of Energy is in crisis as Taleveras Petroleum Trading, one of the three companies that bought South African strategic oil reserves, has demanded to be given its fuel, which will leave the country poorer by four million barrels of oil. Taleveras CEO Martial Beauvallon sent a letter to Godfrey Moagi, acting CEO of the Strategic Fuel Fund (SFF), to notify it that the oil trading company would be exporting its barrels. The letter dated April 20 was not the first. "Kindly note that as per our earlier notification dated 2nd March 2017 we plan to export our barrel from the month of May and therefore this notification should duly be considered as formal notification in line with ... the storage agreements as well as the tank warrants dated 1 January 2016. "We believe that the notification provides SFF with advance notice and ample time to implement the above clauses in line with the agreements," reads the letter. It was revealed last year that the SFF had sold 10million barre...
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