At that stage, security of supply was attained through the storage of crude oil for strategic stock for 5 years and supplying the commercial crude oil requirements to the domestic refineries as the country had surplus refining capacity and was therefore self-sufficient in terms of security of supply.This stockpile was last sold in in 1999 to Sasol and Total to fund the fiscus.
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The pre-1994 business model meant that SFF had a huge amount of working capital tied up for very long periods of time (15 years) until the rotation of stock.
This decreases rather than increases economic value due to the loss of value through long term storage.