OILGATE

Between December 2015 and January 2016 South Africa’s strategic oil reserves were sold to several companies without consideration for emergency situations that may plague the country in future. The crucial reserves were sold at a ridiculously low price with the option of South Africa buying it back at an inflated rate. Nicknamed “Oilgate” the media and public applied pressure on the Central Energy Fund to prevent the deal from taking place. Now, almost three years later, one of the effected companies, Glencore, has approached the court to set aside the matter.

Eskom has accrued R19.6bn in irregular spending since 2012. 

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Odoo CMS - a big picture

Between December 2015 and January 2016 South Africa’s strategic oil reserves were sold to several companies without consideration for emergency situations that may plague the country in future. In addition, the crucial reserves were sold at a ridiculously low price with the option of South Africa buying it back at an inflated rate. Nicknamed “Oilgate” the media and public applied pressure on the Central Energy Fund to prevent the deal from taking place. Now, almost three years later, one of the effected companies, Glencore, has approached the court to set aside the matter. 




OilGate Overview By Adv. Stefanie Fick

 
 

OUTA's Head of Legal: Adv Stefanie Fick providing us with an overview of the OilGAte matter South Africa is currently facing. 

OilGate Impact By Ronald Chauke 

 
 

OUTA's Head of Legal: Adv Stefanie Fick providing us with an overview of the OilGAte matter South Africa is currently facing.