And they have high, high running costs.

There was an article about that - basically discussing what the price of oil needs to be for SA to maintain their practice of buying their populace (massive oversimplification: there's basically no jobs outside the oil industry, so the gubmint pays people to do fuck-all; it's that or REVOLUTION). ISTR the break-even price was something like $50/barrel.

I'll see if I can find it.

Edit 1: promising search