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S.Africa hopes for EU "breakthrough" over Iran oil

South Africa expects a "breakthrough" in its discussions with Brussels about the impact of EU sanctions on oil exports from Iran, historically its biggest supplier of crude, a top South African energy official said on Friday

Reuters, Friday 15 Jun 2012
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Views: 646

"There is going to be a meeting in Moscow quite shortly, which we firmly believe is going provide a breakthrough with regard to the sanctions," Nelisiwe Magubane, director general in the energy department, told reporters.

"We put our case in a manner that indicated that the sanctions are not just going to impact the South African economy, but it is also going to impact that of our neighbours."

Africa's biggest economy is currently looking to source oil from Angola, Nigeria and Saudi Arabia to replace supplies from Iran,a top energy official said on Friday.

 South Africa's crude oil imports from Iran fell 43 percent to 286,072 tonnes in April from the previous month, while supplies from Saudi Arabia nearly doubled to 671,419 tonnes. The remaining 258,184 tonnes came from Nigeria.

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