House Chairperson, I find it very interesting Minister that you say the reserves are Nigeria and Iraq when 44% of our oil are crude oil imports in South Africa come from the Kingdom of Saudi Arabia.
The 1996 Energy White Paper mandates the Strategic Fuel Fund, SFF, must hold 90 days supply of fuel stock for South Africa's refineries, which is in line with global standards. Then there was a Draft Strategic Fuel Stocks Policy which has been under discussion 2013 and that suggest that there should be a 60day stock holding. Then there is a ministerial directive that says no, we only need a 10.3milion barrel which is about 18days cover.
Minister, the question is this, given that former Minister Joemat- Pettersson sold off our strategic reserve and it is currently sitting in the tanks somewhere and I am well aware of that. But we can't touch it because it is a subject of a court case. So nobody knows who actually owns that. Given that, that is the case, what will you do in the event of an emergency requiring the release of the strategic fuel reserve?