The Organisation Undoing Tax Abuse (Outa) says a Cape High Court case on Friday will determine the fate of South Africa’s strategic crude oil reserves that are worth more than R9.3-billion.
Outa states that, between December 2015 and January 2016, South Africa’s strategic oil reserves had been sold illegally to several companies without due process and with a disregard for any required approval of the boards of directors of both the Central Energy Fund (CEF) and the Strategic Fuel Fund.