South Africa Looks To Nigeria For Secure Oil Supply
From Bernama
With the uncertainty over supply of oil from Iran, South Africa is looking to Nigeria to purchase its oil, says Deputy President Kgalema Motlanthe following the signing of a Memorandum of Agreement with Nigerian Vice-President Namadi Sambo.
South Africa may be forced to comply with an order by the United States to cease buying oil from Iran, from which it sources about a quarter of its oil requirements, or risk economic penalties from America. Energy Minister Dipuo Peters last week that the government would decide on its response to proposed sanctions by the end of this month.
