August 10, 2011 [Independent Online] - One of the major spin-offs of the engagement by South African MPs with the Venezuelan government and parliament was a discussion about the possible use of South Africa’s oil storage capacity – built up during the apartheid era – for the use of the Venezuelan state-owned oil company.
Venezuela, which is rich in oil, apparently needs the extra storage capacity, particularly for their exports to China. It is believed the facilities in the Saldanha Bay/Langebaan area in the Western Cape would be suitable, but South Africa would have to look at widening and deepening the port there.
Read the article in full: http://www.iol.co.za/business/business-news/potential-partnership-over-oil-storage-emerges-from-sa-trip-to-venezuela-1.1114449
