Cheaper oil forces South Africa to rework biofuels subsidy

Cheaper oil forces South Africa to rework biofuels subsidy

South Africa’s biofuels funding incentive is being revamped over concerns that it is unaffordable after a halving of global crude oil prices over the past year, officials said on Tuesday. A net importer of crude, Africa’s most advanced economy wants biofuels initially to meet 2%, or around 400-million litres, of the country’s annual fuel consumption […]

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