For sale: 5 million barrels of oil, owned by the SA government.

The Strategic Fuel Fund (SFF) has taken the first steps to sell a portion of SA's crude oil reserves by calling for bidders to register for pre-approval ahead of the bidding day. The proceeds of the sale – which it is hoped will be around R6 billion – will be used to plug the hole in the national revenue fund left by the reduction of the fuel levy in April and May. The SFF said in a tender issued in mid-August that it would sell five cargoes of 950 000 barrels each. <a href="https://kaya959.co.za">Kaya 959</a>