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Johann Rupert's Remgro has added its voice to growing alarm over South Africa's fuel security, with CEO Jannie Durand warning that the ongoing Middle East conflict could trigger shortages in the country.
Durand, who has run the Stellenbosch-based investment conglomerate since 2012, said he is deeply concerned about the trajectory of the conflict and its potential knock-on effects on South Africa's petroleum supply chains, Daily Investor reported Friday.
The warning from the head of one of South Africa's most powerful investment vehicles underscores how the Iran war is reaching beyond oil prices and into the calculations of corporate South Africa. Remgro holds petroleum sector exposure through TotalEnergies Marketing South Africa and benefited from a Transnet pipeline cost refund through that unit in its most recent half-year results.
South Africa imports a significant portion of its refined fuel, with a large share historically sourced from countries in and around the Middle East. The conflict's pressure on the Strait of Hormuz has disrupted those supply chains, prompting government and industry to seek alternatives. Strategic petroleum reserves currently stand at between 7.7 and 8 million barrels, well below the country's 45-million-barrel capacity, a shortfall analysts have attributed to years of mismanagement.
Government officials have repeatedly reassured the public that near-term supply is secured, pointing to fuel consignments locked in before the latest escalation. Diesel, however, has already become a flashpoint. Agri Western Cape CEO Jannie Strydom said between 70 and 75 percent of feedback from farmers indicates they cannot access fuel, with some receiving as little as 20 percent of their normal monthly diesel allocations.
South Africa's government has moved to diversify supply, pursuing a 12-month fuel deal with Aliko Dangote's Lagos-based refinery, which has 650,000 barrels per day of capacity and has been shipping refined products to several African governments hit by the crisis. But the Dangote refinery's export window is limited, with about 75 percent of output committed to Nigeria's domestic market.
Rupert, who remains one of Africa's wealthiest individuals with a net worth above $18 billion, chairs Remgro and controls 42.91 percent of the company's voting rights. Remgro reported earlier this week that headline earnings for the six months ended December 2025 rose 38.8 percent, and the interim dividend surged over 80 percent, with the Rupert family set to collect about R80 million in gross payouts from the payout.
Industry groups including the Fuel Industry Association of South Africa have moved to daily coordination meetings with government, oil companies and logistics players as the situation evolves.
