South Africa Keen To Resume Iranian Oil Imports

MAITE-CopySouth Africa is looking forward to resuming trade with Iran, including oil imports, once sanctions are lifted following a nuclear deal between Tehran and six majors powers, the foreign minister said on Wednesday.

Iran was once the biggest oil supplier to South Africa – which is Africa’s second-biggest crude consumer, importing around 380,000 barrels per day (bpd) in total.

“Of course if sanctions are lifted that’s a win-win situation and South Africa will also benefit from that,” Foreign Minister Maite Nkoana-Mashabane said in response to a question about resuming oil imports from Iran.

Nkoana-Mashabane said South Africa had never agreed with sanctions against Iran and that its oil refiners had suffered from a ban on crude exports from the Middle Eastern country.

South Africa bought around 68,000 bpd from Iran in May 2012, a month before it halted crude purchases as Western countries pressured Tehran over its nuclear programme. That was well down from peak purchases in 2011.

Iran and six major world powers reached a nuclear deal on Tuesday, capping more than a decade of negotiations with an agreement that could transform the Middle

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  • South Africa’s consumption of up to 380,000 bpd is huge and would be a big market for Nigeria. But why is South Africa rather prefering to buy from Iran to Nigeria with the best crude quality?

    • akeebaba


  • Alabasta

    The South African foreign minister’s statement about the resumption of oil import from Iran once sanctions are lifted says a lot about the relationship between Nigeria and South Africa. Nigeria’s love for South Africans, South African goods and services and South Africa itself is not reciprocated by South Africa. They see us as proud, unwanted rivals who want to displace them as number one economy in Africa. The South African people are not as welcoming as other Africans, a situation probably made worse by years of apartheid’s isolation, oppression and violence. Nigeria on the other hand creates the conditions for the rest of the world to exploit her. Her people just will not produce anything. Even when they produce something they are not patronized by Nigerians. It was variously referred to as a country that consumes without producing. Nigeria does not have a friend in but transient business relationship with South Africa.