South African oil companies will meet Iranian officials in October to discuss the reopening of crude imports once international sanctions against Iran are lifted.
Deputy energy minister, Thembisile Majola, was cited by Reuters news agency as saying that South Africa was planning to build a crude oil refinery, which would use Iranian crude and add to the existing state-owned PetroSA gas-to-liquid plant in Mossel Bay.
According to news reports, international sanctions against Iran could be lifted as soon as next year as Tehran and Western countries seek to rebuild trade ties.
Iran was once South Africa’s biggest oil supplier, exporting about 380 000 barrels a day, fuelling one of Africa’s most advanced economies, reported Reuters.
