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South Africa to Keep Importing Oil from Iran

Source: www.gulfoilandgas.com 7/25/2012, Location: Asia

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South Africa’s Energy Minister Dipuo Peters has stressed his country’s determination to continue its crude oil imports from Iran, despite the U.S.-engineered sanctions against Tehran.

Peters emphasized that a disruption of oil imports from the Islamic Republic will be very costly for South Africa and would create many difficulties for the country since one of their main refineries operates with Iranian crude.

According to the report, Peters also said that Pretoria imports some 26 percent of its oil supplies from Iran, 80 percent of which is used to produce gasoline fuel for vehicles.

The official further noted that certain decisions by the U.S. and Europe cause difficulties for South Africa since the sanctions against the Islamic Republic are really not “our decision, but we end up suffering losses due to the measures.”

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