{"id":352213,"date":"2019-11-07T15:17:12","date_gmt":"2019-11-07T13:17:12","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=352213"},"modified":"2019-11-07T15:17:12","modified_gmt":"2019-11-07T13:17:12","slug":"south-africa-set-to-get-major-new-r147-billion-oil-refinery","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/energy\/352213\/south-africa-set-to-get-major-new-r147-billion-oil-refinery\/","title":{"rendered":"South Africa set to get major new R147 billion oil refinery"},"content":{"rendered":"<p>The Central Energy Fund (CEF) has partnered with Saudi Arabia&#8217;s Aramco to construct a 300,000 barrel per day crude oil refinery on South Africa&#8217;s east coast.<\/p>\n<p>Speaking to <strong><a href=\"https:\/\/www.reuters.com\/article\/africa-oil-refinery\/south-africa-sees-new-saudi-backed-10-bln-refinery-onstream-by-2028-idUSL8N27M71P\" target=\"_blank\" rel=\"noopener noreferrer\">Reuters<\/a><\/strong>, the CEF\u2019s acting group chief executive Kholly Zono said that the refinery is expected to come online by 2028.<\/p>\n<p>Zono said that the development will be the region\u2019s largest refinery and that early indications are that it would cost in the region of $10 billion (R147 billion).<\/p>\n<p>&#8220;We are comfortable we have a very solid business case to attract investment and funding from bankers,&#8221; he said.<\/p>\n<p>&#8220;This refinery will not only increase capacity for South Africa but also the region,\u201d he said, adding it would be funded through a mix of debt and equity.&#8221;<\/p>\n<p>He said that a pre-feasibility study will be completed in the next few weeks, after which a more detailed feasibility study will firm up the design and capital cost estimates, followed by front-end engineering and design.<\/p>\n<hr \/>\n<p><strong>Read: <a href=\"https:\/\/businesstech.co.za\/news\/energy\/351145\/here-is-the-official-petrol-price-for-november\/\" target=\"_blank\" rel=\"noopener noreferrer\">Here is the official petrol price for November<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Central Energy Fund (CEF) has partnered with Saudi Arabia&#8217;s Aramco to construct a\u00a0 300,000 barrel per day crude oil refinery on South Africa&#8217;s east coast.<\/p>\n","protected":false},"author":10,"featured_media":274449,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9874],"tags":[26],"class_list":["post-352213","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-headline"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/352213","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=352213"}],"version-history":[{"count":5,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/352213\/revisions"}],"predecessor-version":[{"id":352223,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/352213\/revisions\/352223"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/274449"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=352213"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=352213"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=352213"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}