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Energy Minister Jeff Radebe says OPEC member countries have given South Africa a guarantee of secure oil supply.
Radebe has been holding discussions with delegates from the global oil producers’ group at the third Oil and Power conference in Cape Town.
Radebe says South Africa struggles with escalating fuel prices.
“I had a very fruitful discussion with the Secretary General of OPEC about issues to mutual consent. As you know we are 90% dependent on OPEC countries as we consume about 100 tonnes of crude oil everyday which is equivalent to 700 000 barrels of crude oil per day. We are offering security of demand and they will give us security of supply. But more than that, we are looking at issues of collaboration”.
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