King Mswati III says Eswatini is constructing a strategic oil reserve to protect the country from global fuel supply disruptions worsened by the recent conflict in the Middle East.
Speaking during a courtesy call on Azerbaijan’s President Ilham Aliyev in Baku ahead of the UN World Urban Forum, the king said the instability had affected global supplies of fuel, fertiliser and other petroleum‑based products, underscoring the need for stronger national energy security.
He invited Azerbaijan’s state oil company SOCAR and mining firms to invest in Eswatini’s fuel infrastructure, saying the new reserve will store up to two months’ supply.
“In Eswatini, we are currently building a Strategic Oil Reserve, which will be able to store fuel for about two months, and we will be happy to partner with your companies in this project, in terms of supply,” Mswati said.
“We can even go beyond just the storage facility and build an oil refinery in the long term.”
He added that Eswatini’s location between South Africa and Mozambique positions it as a potential distribution hub for the region.
President Aliyev welcomed the proposal and instructed his ministers to explore investment opportunities, noting that global supply chains remain fragile due to ongoing geopolitical tensions.
JN/APA