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South Africa sold 10 million barrels of oil to traders in December
May 26, 2016 / 11:32 AM / a year ago

South Africa sold 10 million barrels of oil to traders in December

JOHANNESBURG, May 26 (Reuters) - South Africa's state-run Strategic Fuel Fund (SFF) sold 10 million barrels of crude in December at $28 a barrel to a unit of Glencore, Vitol and Taleveras, a director in the Central Energy Fund said on Thursday.

Tseliso Maqubela told Reuters that the condition of the sale was that the oil not be exported and so the government considered it to be part of its strategic reserve stockpile. (Reporting by Zimasa Mpemnyama and Ed Stoddard; Editing by Joe Brock)

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