|
Related Topics |
|
In today's blog we take a look at South Africa's crude oil imports from January 2010. But instead of focussing on the monthly value of South Africa's crude oil imports we will take a look at who South Africa's big crude oil suppliers are.
Exactly where is South Africa's crude oil imports coming from? And how many suppliers makes up say 80% of South Africa's crude imports? Does South Africa's crude oil come from a variety of countries or is it concentrated around a few? What is the total Rand value of South Africa's crude oil imports per year? We answer these questions below. |
|
Who supplies South Africa's crude oil?
The chart below shows the total Rand value spent on crude oil imports from each of these countries from January 2010 up to March 2018. And the graphic makes it clear that the majority of South Africa's crude oil imports come from a select few countries. And of them, Saudi Arabia is by far the biggest supplier of South Africa's crude.
From the start of 2010, R355.6billion worth of crude oil was imported from Saudi Arabia (or around 37.7%) of South Africa's crude oil came from Saudi Arabia. Nigeria came in a distant second place with R259billion (around around 27.5%) of South Africa's crude oil coming from the Western African country. Angola is in third place with R146.1billion (or 15.5%) of South Africa's crude oil coming from Angola.
In total South Africa imported R942.6billion worth of crude oil from the start of 2010 up to March 2018. The list below shows a list of the top 25 countries from which South Africa imported crude oil.
In total South Africa imported R942.6billion worth of crude oil from the start of 2010 up to March 2018. The list below shows a list of the top 25 countries from which South Africa imported crude oil.
- Saudi Arabia 355 616 179 416 (37.7%)
- Nigeria 259 028 317 455 (27.5%)
- Angola 146 093 054 184 (15.5%)
- Iran 59 709 054 972 (6.3%)
- United Arab Emirates 34 154 601 444 (3.6%)
- Ghana 16 105 281 873 (1.7%)
- Qatar 11 546 958 435 (1.2%)
- Equatorial Guinea 8 513 189 963 (0.9%)
- Iraq 7 249 043 518 (0.8%)
- Oman 5 449 971 216 (0.6%)
- Colombia 4 763 480 521 (0.5%)
- United Kingdom 4 311 774 249 (0.5%)
- Kuwait 4 172 039 916 (0.4%)
- Togo 3 481 804 425 (0.4%)
- Mozambique 2 572 193 599 (0.3%)
- Gabon 2 446 575 753 (0.3%)
- United States of America 2 269 877 572 (0.2%)
- Switzerland 2 165 769 032 (0.2%)
- Norway 1 934 837 999 (0.2%)
- Ecuador 1 729 371 293 (0.2%)
- Guinea 1 346 932 762 (0.1%)
- Argentina 1 180 755 317 (0.1%)
- Panama 1 069 135 553 (0.1%)
- Russia / Russian Federation 947 613 034 (0.1%)
What is interesting to note is the fact that Iran is still in fourth place, especially considering the fact that loads of sanctions have been placed on Iran making it impossible to import crude from Iran for a substantial amount of time. Showing that when there are no sanctions against Iran and South Africa can import crude from them, we do import a lot from them if and when they are able to.
Crude remains one of South Africa's single biggest imports (together with vehicles, and parts related to vehicles and machinery and equipment) and is set to remain that way indefinitely as we are extremely dependent on crude oil and we do not have this natural resource available in South Africa, even though we are a very mineral rich country.
The parts related to vehicles is not because vehicles in South Africa break down a lot, but is due to the fact that we have various vehicle assembly plants in South Africa, think BMW Rosslyn plant in Pretoria or VW plants in the Eastern Cape. We therefore import the parts, assemble the cars and then exports the completed vehicles, making vehicle exports one of South Africa's single biggest exports.
Crude remains one of South Africa's single biggest imports (together with vehicles, and parts related to vehicles and machinery and equipment) and is set to remain that way indefinitely as we are extremely dependent on crude oil and we do not have this natural resource available in South Africa, even though we are a very mineral rich country.
The parts related to vehicles is not because vehicles in South Africa break down a lot, but is due to the fact that we have various vehicle assembly plants in South Africa, think BMW Rosslyn plant in Pretoria or VW plants in the Eastern Cape. We therefore import the parts, assemble the cars and then exports the completed vehicles, making vehicle exports one of South Africa's single biggest exports.
Let us know what you thought of this article: |