Minister of Mineral and Petroleum Resources, Gwede Mantashe, has called for stronger collaboration between government and industry to ensure South Africa’s long-term energy security and economic growth.
Speaking at the Fuel Industry Imbizo hosted by the Fuel Industry Association of South Africa (FIASA), Mantashe highlighted the challenges facing the global petroleum sector, including ongoing instability in the Middle East, which continues to affect fuel prices, supply chains and investment decisions worldwide.
Despite these challenges, he commended the fuel industry for working with government to maintain stable fuel supplies in South Africa. However, he raised concerns about instances where some fuel operators increased prices before official adjustments and warned that such practices undermine public trust and industry credibility.
The minister also expressed concern over the illegal adulteration of fuel products, particularly the blending of diesel with illuminating paraffin. He said the practice damages equipment, distorts markets and poses risks to the economy and national security. Government, together with law enforcement agencies, will continue efforts to combat fuel-related criminal activities.
Looking ahead, Mantashe said South Africa’s energy future depends on a diversified energy mix that includes both conventional fuels and emerging energy sources. He highlighted biofuels as a key opportunity for job creation, rural development and reducing greenhouse gas emissions. The government is encouraging investment in the sector following the publication of a regulated biofuels price aimed at creating greater certainty for investors.
The minister also provided an update on key legislative developments, including the Petroleum Products Bill and the implementation of the Upstream Petroleum Resources Development Act, both aimed at modernising and strengthening the country’s petroleum industry.
Energy security remains a priority for the government. Mantashe revealed that a draft Strategic Petroleum Stocks Policy has been prepared for Cabinet consideration. The policy proposes maintaining strategic fuel reserves equivalent to 60 days of net imports to improve the country’s resilience against future supply disruptions.
He further called for increased oil and gas exploration, investment in local refining capacity and the expansion of the Liquefied Petroleum Gas (LPG) market to provide households with cleaner and more affordable energy options.
Mantashe concluded by urging industry stakeholders to work with the government in building a secure, competitive and sustainable petroleum sector that supports South Africa’s development goals and positions the country as a regional energy hub within Southern Africa.
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