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  • Posted May 31, 2012 by

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    South African oil imports from Iran drops 43% in April

    NCRI- South African Revenue Service said on Thursday that South Africa’s crude oil import from Iran fell 43% to $211 million in April from the previous month, Reuters reported. The fall in the crude oil import from Iran was reported to be due to pressures by Western governments to cut Iranian crude import as part of sanctions to force Iranian regime to halt it nuclear bomb making efforts.

    Until late last year, Iran was South Africa's biggest crude supplier of Africa's biggest economy, accounting for 26 percent of total oil imports.
    Gwede Mantashe, secretary general of the ruling African National Congress, told Reuters last week that South Africa had no choice but to comply with Washington's wishes because it could take a heavy hit if it does not comply. "We will do it because we are a small economy, and so I'm sure we'll cut back," he said.
    Meanwhile, Petroliam Nasional Bhd. (PET)’s Engen unit, the biggest South African importer of crude oil from Iran, said on Thursday that it has suspended imports of oil from Iran.
    According to a report by Bloomberg, Engen spokeswoman Tania Landsberg said that Engen, which operates the country’s second-biggest refinery based in Durban and with a capacity of 135,000 barrels a day, normally buys about 80 percent of its supplies from Iran.
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