Crude oil reserves back on the spotlight

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The probe into the sale of the country’s crude oil reserves once again came under the spotlight when Energy Minister David Mahlobo and his department appeared before Parliament on Tuesday.

On previous occasions,  previous energy minister Mammoloko Kubayi conceded that there had been governance problems related to the sale of 10 million barrels of crude oil.

“There is a number of investigations that are being conducted on the strategic fuel fund, about 30 contracts were initially within the scope to be investigated but the number has increased to 50 and one of those investigations has to deal with the sale of the oil reserves,” says Mahlobo.

Mahlobo says that they have met with the investigators, although they have not completed their report, they have shared a preliminary report.

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