Settlements in the offing

It has been five years since 10 million barrels of South Africa's oil reserves, were illegally sold, below market value. The Strategic Fuel Fund and Glencore have reached an agreement, in principle, to reverse the sale, but that still has to be ratified by a court. It is hoped that settlement agreements could be reached with the other seven companies that bought the stock. But it is likely to come at a major loss to taxpayers.