- Monday, 18 January 2016
- Written by Bloomberg
The potential return of Iranian oil exports to South Africa threatens to displace barrels from Saudi Arabia and Nigeria that plugged the supply gap when sanctions were imposed on OPEC’s fifth-biggest producer.
"The re-emergence of Iranian crude oil provide options for those willing to buy from Iran," Avhapfani Tshifularo, executive director of the South African Petroleum Industry Association, said in an e-mail response to questions. "Iranian imports are likely to displace the Nigerian and Saudi Arabian crudes, since they seem to have filled the gap since South Africa stopped importing Iranian crude oil."
SAPIA compiled the nation’s crude import data from its member refiners and the South African Revenue Service.