President Jacob Zuma
President Jacob Zuma

President Jacob Zuma
President Jacob Zuma
— The Strategic Fuel Fund (SFF), the guardian of SA’s strategic crude oil stocks, has sold 10-million barrels of crude – close to its entire stockpile – in a closed tender at rock-bottom prices without obtaining permission from the Treasury.

Strategic stockpiles are a country’s reinsurance policy in the event of a sudden supply crisis. The fund is required to hold stock for 20 days cover. It now has 300,000 barrels, less than a day of cover. (Business Day)

— The politically connected Gupta family once again featured in Parliament on Wednesday, as the Democratic Alliance urged the Industrial Development Corporation to give the Guptas “a wide berth” and Minister of Mineral Resources Mosebenzi Zwane denied travelling with them to Switzerland to persuade Glencore to sell Optimum coal mine to their companies Oakbay and Tegeta. (City Press)

— The High Court in Pretoria will hear the application for leave to appeal a court ruling that corruption charges against President Jacob Zuma be reinstated on June 10.
The National Prosecuting Authority (NPA) confirmed that it and Zuma’s application for leave to appeal would be heard next month. (Mail & Guardian) Enditem

Source: Xinhua

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