According to SARS South Africa has not imported a drop of oil from the UAE in 2024
Category: International Trade
Date: 24 October 2024
Date: 24 October 2024
So what happend with crude oi imports from the UAE?
The image below comares crude oil imports in 2019 against the value of crude oil imports for 2024 (up to September 2024). And as the image below shows that a significant amount of crude oil was imported pre-covid from the United Arab Emirates (UAE). In 2019 South Africa imported roughly R15billion worth from the UAE, or about 2billion kilograms. Yet in 2024 according to the statistics released by SARS South Africa has not imported a single drop of oil from the UAE. We find this highly unlikely and probably incorrect as measured by SARS.
What is interesting to see in the graphic above is the fact that South Africa is imorting more oil from countries on the African continent, such as Algeria and Angola. But the reduced crude oil imports from the middle east is puzzlng. One wonders why, as they have some of the best crude in the world that would require less refining than crude oil imported from other locatons.