human
The 2015/16 annual report of the Central Energy Fund and the Strategic Fuel Fund section, proves the sale was known by Minister Joemat-Petersen AND the Auditor General, AND the Treasury also knew about it because it had to approve the proceeds being held in US dollars in the Absa accounts of the SFF. That the Minister called it a Rotation was likely a miss- use of oil-trading jargon rather than an attempt to cover up anything. A formal letter was sent to her  asking for approval. She approved in writing.  That the buyers will make a profit is not a criminal offence. The crude sold was 15 years old, was unlikely ever to be required by local refineries to make petrol, diesel and other petroleum products, especially as new EU fuel specifications cannot be met by local refineries. The SFF made a profit too. Also, the buyers pay the SFF rent to keep it in SFF tanks and must replenish it when they sell, and keep on paying rent even if they do not.
gpt
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