By DEVON MAYLIE
JOHANNESBURG -- South Africa's Sasol said Thursday it has
found suppliers to replace the crude oil it normally sources
from Iran as the West imposes trade restrictions and sanctions
on the Islamic Republic.
Sasol, the world's largest producer of motor fuels from
coal, relies on Iranian oil imports for about 20% of its crude
requirement, or 12,000 bpd, at its Natref refinery.
South Africa as a whole relies on Iranian crude for roughly
25% of its oil imports.
"In view of recent developments regarding trade
restrictions, introduction of both petroleum and non-petroleum
sanctions and heightened military presence in the Strait of
Hormuz, Sasol Oil has sourced alternate suppliers to meet its
crude oil requirements, thereby mitigating risks associated
with oil supply disruptions from the Middle East," the company
The energy producer said in January it would seek to
diversify away from Iranian crude.
At the announcement of its results earlier this month, the
company's chief financial officer said it already buys from
Saudi Arabia so could buy more from there.
It didn't provide details on the exact sources of supply
Dow Jones Newswires