Ukraine to buy no more coal from South Africa — energy minister
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Athandiwe Mercuria energy trading sa south africa 01 Sep Energy Minister Mmamoloko Kubayi has yet to act on a report into the sale of state oil. Last year, the CEF commissioned the investigation, which reviewed several fuel trading and sale contracts that had been flagged for irregularities.
One is a Rmillion contract given to a small oil solutions company, Enviroshore Trade and Logistics, which was tasked with recovering fuel that had been stored by the apartheid government at the Ogies coal mine in Mpumalanga.
Enviroshore is owned by Eugene Makhaye and Arthur Potts. Former SFF chief executive Bheki Gila and acting general manager of commercial Sibusiso Gamede struck a deal with Makhaye and Potts that they could do as they pleased with the oil to ensure the Ogies project continued, according to the report.
But as of December last year, the oil has still not been returned and the SFF has simply disposed of a state asset, the report states. It is also understood that the SFF has still not received a cent from Enviroshore for the proceeds from the Ogies mine.
Spokesperson for Enviroshore Vuyo Mkhize claims the company is continuing to recover and process sludge, as well as pumping water from the Ogies mine, and that they are meeting performance targets. This sale was accompanied by at least two letters written mercuria energy trading sa south africa Gila and Gamede stating that:. Mercuria then entered into a storage agreement with the SFF to store the same mercuria energy trading sa south africa. The SFF falls under the ambit of the department of energy, and Kubayi confirmed that she had received mercuria energy trading sa south africa report and was waiting on the CEF to make final recommendations.
The three lucky companies include Taleveras, which bought four million barrels, and Vitol and Glencore, which bought three million each. At the time news of the sale broke, the ministry and the SFF denied it was a sale but said it was rather a rotation of stock. It was also said the oil would not leave the country and the SFF had the option to buy it back. Each of the contracts involving the three companies went through a closed bidding process. According to the report, the processes were never authorised by the SFF board, as is required, and the contracts are rendered invalid by the failure to comply with regulatory approvals.
Energy Minister Mmamoloko Kubayi announced in Parliament that a full-scale investigation would be conducted into the multibillion-rand asset disposal.
But four months down the line, Kubayi is still awaiting the recommendations, based on numerous reports, from the CEF. Create Account Lost Your Password? Toggle navigation Toggle profile. News Rm oil deal probe in a mercuria energy trading sa south africa Athandiwe Saba 01 Sep Mercuria energy trading sa south africa sale was accompanied by at least two letters written by Gila and Gamede stating that: The report recommends that the mercuria energy trading sa south africa officer and the board should be held accountable.
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