On top of everything else, an economically destructive fuel shortage may be on the cards.
South Africa’s largest crude oil refinery, Sapref, said on Tuesday it was shutting down and declaring force majeure on contracts in the face of the ongoing social unrest partly triggered by the jailing of former president Jacob Zuma.
The Shell/BP joint venture made the announcement in a letter to clients.
“Sapref has been obliged to make the difficult decision to shut down the refinery.
“As a result of the aforegoing, Sapref hereby declares the occurrence of an event of force majeure, excusing Sapref from performing under the agreement,” the letter, dated 13 July, says.
Read the full article on the Daily Maverick website: Sapref oil refinery declares force majeure, shuts down a third of South Africa’s fuel supply
Author: Derrick Markotter
RCCI Webmaster Derrick runs a boutique web marketing agency, IdealMedia Marketing.