SA’s strategic fuel stock was sold for peanuts admitted new Energy minister

New Energy Minister Mmamoloko Kubayi has admitted that South Africa sold much of its strategic fuel stock last year‚ contradicting her predecessor‚ Tina Joemat-Pettersson.

Kubayi told parliament’s portfolio committee on energy on Tuesday that the sale of the oil to a foreign enterprise at the rock-bottom price of $29 a barrel was indeed a sale and not a mere rotation of oil stock‚ as Joemat-Pettersson had always claimed‚ to general disbelief.

Kubayi gave no indication of what level of strategic oil reserves remained‚ and committee chair Fikile Majola of the ANC would not allow any questions to her.

Democratic Alliance (DA) MP Gordon Mackay immediately said that parliament had been misled and that those responsible must be fired.

“This is an absolute travesty. It comes after months of denial by the deputy minister‚ who is still in her position‚ and the previous minister.

“Parliament has been deliberately misled. Heads must roll at the energy department‚” said Mackay‚ who has at times led a lonely crusade to uncover the truth.

Kubayi showed every intention of wanting to be a new broom that sweeps clean‚ saying transparency and accountability would be her watchwords as she dealt with what she referred to as the department’s “problem children“‚ including the nuclear deal.

The central Energy Fund saw the money in their account. Or shall I say “the change” – R300m? They are still trying to ascertain who sold it at a great loss. Tina Tina Joemat-Pettersson denied that the fuel reserves had been sold at the time time. She said it had been “rotated”.

It is quite obvious the reserves had been sold for some reason. And the only reason I can think of, is for the money, of which a large share, most likely went into someone’s or some entity’s pocket.
Let us take a wild guess!

Source:  Sowetan Live


Enjoyed this post? Share it!