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May 20, 2009

Daily podcast – May 20, 2009

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This podcast is brought to you by Den Braven Sealants - Worldwide leader in professional sealants.

Wednesday, May 20, 2009.

From Creamer Media in Johannesburg, I'm Shannon O'Donnell.

Making headlines today:

Energy and chemicals group Sasol has announced that it's agreed to an even heftier fine of more than 250-million-rand to settle competition breaches involving its fertiliser unit. This is in line with an amended agreement reached with the Competition Commission.

Earlier, a fine of 188-million-rand had been agreed. But additional information was reportedly uncovered last week, showing contraventions that had not previously been disclosed.

Sasol said that the further breaches had emerged during the course of an ongoing investigation within its fertiliser and phosphoric acid businesses. This had included repeat interviews with employees and ex-employees.

Sasol explained that the information changed the commission's view of the nature and seriousness of one of the matters covered by the settlement agreement. It was subsequently agreed that the settlement and the administrative penalty be amended to reflect the new information.

South African state-owned oil company PetroSA's planned 400 000 barrels-a-day crude oil refinery could generate up to 800 MW of power to ease the country's electricity shortages.

PetroSA's vice-president of new midstream ventures, Jorn Falbe, said a feasibility study for the refinery at Coega was due to be completed by August. Coega is an industrial zone on South Africa's south-east coast.

Backed by the government, the Coega refinery is expected to ease the country's dependence on fuel imports.

Also making headlines:

The head of an independent energy institute says that South Africa should raise power tariffs over time to boost energy supply and attract investors.
Portuguese construction firm Mota-Engil seeks partners for its Angola power consortium.
JSE-listed Vodacom aims to increase its broadband roll-out in Africa.
And, conditions are increasingly favourable in South Africa for IPPs, despite the frustrations.

That's a round up of news making headlines today. For more on these and other stories please visit


Edited by: Shannon de Ryhove
Creamer Media Senior Deputy Editor Polity & Multimedia
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