South Africa’s Faces Major Oil Refinery Crisis

Two of South Africa’s four oil refineries are currently offline and expected to restart next year at the earliest, while the other two facilities also face an uncertain future as oil companies are reassessing their downstream portfolios in the wake of the pandemic that crushed fuel demand. Two South African oil refineries, owned by units of Glencore and Malaysia’s Petronas, are forecast to remain closed at least until next year, Bloomberg reports, citing energy consultancy CITAC.

Those two refineries account for 43 percent of South…