Dodgy oil deal gets its (costly) day in court

Oil reserves expected to return to SA at huge expense to state

13 September 2020 - 00:00 By Sipho Masondo

The Strategic Fuel Fund (SFF) will face off against oil traders in the Western Cape High Court tomorrow in a bid to overturn its decision to sell 10-million barrels of SA's strategic reserve crude four years ago.

And though documents seen by the Sunday Times reveal the fund is in the process of concluding agreements to pay millions of rands to settle hedging losses incurred by at least one of the oil traders in the deal, SFF CEO Godfrey Moagi has denied this...

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