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Oil & Gas News

Sasol Oil reverses R1.3bn tax provision after favourable court ruling

By: Terence Creamer     9th November 2018 Energy and chemicals group Sasol reported on Friday that it would reverse a R1.3-billion provision made in its 2018 annual financial statements after the Supreme Court of Appeal overturned an earlier adverse finding against Sasol Oil by the Tax Court. Sasol Oil and the South African Revenue... 

Company extends life span of critical steam systems

By: Jessica Oosthuizen     9th November 2018 Professional services and project management company SNC-Lavalin completed a 40 bar high-pressure steam isolation valve replacement project last month for South African integrated chemicals company Sasol’s Group Technology division. The company was awarded the project in May of this year and the... 

Company extends life span of critical steam systems
SASOL STEAM SYSTEM The steam system on the Sasol refinery is the main steam header which links the steam generation plant to the rest of the factory

Valve repair and refurbishment present vast opportunities

By: Jessica Oosthuizen     9th November 2018 The repair and refurbishment of critical valves present significant opportunities in the South African valve industry, says mechanical engineering company Brimis Engineering MD Andile Nqandela. The company can manufacture in-house components required for repair and refurbishment of critical... 

Valve repair and  refurbishment present  vast opportunities
TEST BENCH Brimis Engineering has procured a pressure relief valve test bench to service 90% of the installed pressure relief valves in the local market

Uganda expects first oil production in 2021, refinery by 2023

By: Reuters     8th November 2018 Uganda expects to start producing oil in 2021, a year later than initially planned, and its refinery should be up and running by 2023, its oil minister said on Thursday. France's Total is an investor in Uganda's oilfields, with China's CNOOC and Britain's Tullow Oil. 

Radebe hints at possible Saudi investment to boost South Africa's oil refining capacity

By: Kim Cloete     7th November 2018 Energy Minister Jeff Radebe has called for a collaborative approach to attract investment in oil refining hubs throughout the continent and has hinted that Saudi Arabian investment in refining capacity in South Africa may soon become a reality. “In South Africa we believe the time has come for an... 

Oil, gas outlook positive amid tough conditions, says PwC review

By: Kim Cloete     7th November 2018 The outlook for Africa’s oil and gas industry is positive, despite tough economic conditions and far fewer discoveries over the past year, PwC’s yearly 'Africa Oil & Gas Review' shows. The review indicates how the industry has responded in the wake of the recovery of the oil price to close to... 

Oil is here to stay, says the IEA

By: Kim Cloete     7th November 2018 The world’s consumers are not yet ready to say goodbye to the era of oil, while the demand for gas is in the fast lane thanks to its flexibility, says the International Energy Agency (IEA). IEA executive director Dr Fatih Birol on Tuesday said there was robust growth in global oil demand. This... 

Oil is here to stay, says the IEA
Photo by Bloomberg
IEA executive director Dr Fatih Birol

New oil, gas opportunities emerge in Sudan, Niger

By: Kim Cloete     7th November 2018 Some countries in Africa are emerging as potentially exciting players in the oil and gas space – from Sudan, which has emerged out of the clutches of civil war, to Niger, which is rising up as a new producer of petroleum products. Sudanese Petroleum and Gas Minister Azhari Abdalla Abdelgader on... 

Renergen to list on ASX, continue expansion work on Virginia gas project

By: Simone Liedtke     6th November 2018 JSE-listed integrated alternative energy business Renergen plans to undertake a dual listing on the ASX on completion of a fully underwritten R125-million rights issue to shareholders. Commenting on the proposed upcoming ASX listing, which is scheduled for early 2019, depending on market... 

Renergen to list on ASX, continue expansion work on Virginia gas project
Renergen CEO Stefano Marani

Nigeria's NNPC says Shell, ExxonMobil also looking at crude swaps

By: Reuters     5th November 2018 Nigeria's state oil firm NNPC could sign crude-for-product deals with Shell and ExxonMobil, similar to one signed with BP last week, a senior NNPC official said on Monday. Nigerian National Petroleum Corporation (NNPC) announced last Wednesday that it had signed such a deal with BP and would... 

Australia's Invictus says it has not found oil and gas deposits in Zimbabwe

By: Reuters     2nd November 2018 Australian-listed Invictus Energy said on Friday it had not found oil and gas deposits in northern Zimbabwe but there were indications of a "working petroleum system" which could only be confirmed by a planned exploration well. President Emmerson Mnangagwa told reporters on Thursday that Invictus... 

Small thermal plants hold promise for regions without grid electricity 

By: Nadine James     2nd November 2018 Small-scale power generation plants driven by hydrocarbon sources and biomass are still likely to play a valuable part in rolling out electricity in regions of Africa unserved by grid power and where renewable resources are insufficient to sustain a reliable energy supply, according to SRK... 

Petrobras to sell stake in Africa unit to Vitol-led group for $1.5bn

By: Reuters     1st November 2018 Brazil's Petroleo Brasileiro SA will sell its 50% stake in a Nigerian oil and gas exploration venture to a consortium led by top oil trader Vitol for $1.53-billion, the latest step in the state-controlled oil company's debt reduction drive, according to a securities filing on Wednesday. The other... 

Nigeria's NNPC signs crude-for-product swap deal with BP

By: Reuters     1st November 2018 Nigeria's state oil firm NNPC said it had signed a crude-for-product swap deal with oil major BP. In its brief statement on Twitter late on Wednesday, NNPC said more details would be provided later. BP and NNPC did not immediately respond to requests for comment on Thursday. 

Sasol, Indian companies join EP100 global energy-saving initiative

26th October 2018 Petrochemicals giant Sasol and Indian companies UltraTech Cement, Mahindra Vehicle Manufacturers, Mahindra Heavy Engines and Godrej Industries and Associate Companies (Gilac) last month pledged to put energy efficiency at the heart of their business growth strategies by joining EP100. EP100 is a... 

Sasol, Indian companies join EP100 global energy-saving initiative
HELEN CLARKSON Lowering energy use in sectors such as auto manufacturing, cement and chemicals production is an ambitious task

Sasol poised to improve operational performance in 2019

26th October 2018 Integrated chemicals and energy company Sasol reported that it is well positioned to continue improved operational performance in the 2019 financial year despite electricity supply interruptions, as its sales volumes increased by 1% for its performance chemicals business owing to robust market... 

Sasol poised to improve operational performance in 2019
LOWER VOLUMES Liquid fuels sales volumes for Sasol were down 2% as a result of lower production volumes and a challenging local retail liquid fuels market

Progress made to deliver value-based company strategy

By: Paige Müller     26th October 2018 Integrated chemical and energy company Sasol’s 2018 financial year – which came to a close in June of this year – has proven positive in terms of realising the company’s strategy. “The company has made significant strides in bettering its organisational culture and advancing opportunities in its... 

Progress made to deliver value-based company strategy
REMAIN COMPETITIVE Sasol is looking to further enhance its performance by ensuring it is able to remain competitive at an oil price of $40/bl

Air Products launches centralised dissolved acetylene facility 

25th October 2018 Air Products has invested more than R90-million into a centrally located dissolved acetylene plant in Midvaal, and is decommissioning its two existing plants, located on Gauteng and KwaZulu-Natal. Tasneem Bulbulia tells us more. 

Air Products launches centralised dissolved acetylene facility
Air Products launches centralised dissolved acetylene facility

Concerned citizens have their say on IRP 2018 

By: Kim Cloete     24th October 2018 Concerned citizens and activists have come to Parliament to speak out about the draft Integrated Resource Plan (IRP), with fracking, high electricity tariffs and coal-fired power stations among their concerns. Ann October from the Eastridge Women’s Circle in Mitchell’s Plain, Cape Town, said... 

FTC gives conditional approval to Praxair-Linde merger

By: Reuters     22nd October 2018 The US Federal Trade Commission said on Monday that it will require Praxair and Linde to divest assets in nine industrial gases product markets in United States, as part of a settlement that resolves charges that their proposed merger would likely be anticompetitive. The assets will be sold to... 

Sasol reports strong Natref turnaround as oil, rand provide Q1 tailwind 

By: Terence Creamer     18th October 2018 Energy and chemicals group Sasol reports that a turnaround in the production performance of the Natref refinery, in the Free State, helped offset the effects of an extended shutdown at its Secunda operations during the first quarter of its 2018/19 financial year. The JSE-listed company attributed... 

Sasol reports strong Natref turnaround as oil, rand provide Q1 tailwind
Natref refinery

Nigeria central bank, MTN getting closer to settlement – Minister

By: Reuters     18th October 2018 Nigeria's central bank and South African telecommunications firm MTN could soon strike a deal in their dispute over the repatriation of $8.1-billion, Nigeria's information minister said on Wednesday. The central bank says MTN transferred $8.1-billion of funds out of Nigeria in breach of... 

Nigeria State oil company denies existence of $3.5bn fuel subsidy fund

By: Reuters     17th October 2018 Nigeria's State oil company on Wednesday denied parliament's accusation that it had a $3.5-billion fund to surreptitiously subsidise imports of gasoline. The upper house Senate said on Tuesday it would investigate the fund it said the Nigerian National Petroleum Corporation (NNPC) was using... 

Used oil industry offering significant job creation potential, says foundation

By: Simone Liedtke     16th October 2018 Although still relatively young in South Africa, the economic contribution to the country through job creation in the used oil sector is looking very promising, according to a study commissioned by the Recycling Oil Saves the Environment (Rose) Foundation. A survey commissioned by the foundation... 

South Africa’s synfuels know-how could give it edge as world mulls power fuels 

By: Terence Creamer     15th October 2018 The newly formed Global Alliance Power Fuels believes that South Africa is well positioned to become a leading site for the large-scale production of liquid fuels from renewable energy and has confirmed with Engineering News Online that the country is on its radar for possible future... 

South Africa’s synfuels know-how could give it edge as world mulls power fuels
Photo by Creamer Media
Transmission lines with Sasol's Secunda complex in the background, where synthetic fuels and chemicals are produced from coal

Air Products launches centralised acetylene facility 

By: Tasneem Bulbulia     11th October 2018 Air Products has invested more than R90-million into a centrally located dissolved acetylene facility in Midvaal and decommissioning its two existing plants in Kempton Park, in Gauteng, and Pinetown, in KwaZulu-Natal. The company officially unveiled the new central facility on Thursday. 

Air Products launches centralised acetylene facility
Air Products MD Rob Richardson details that company’s new dissolved acetylene facility in Midvaal, and Midvaal executive mayor Bongani Baloyi outlines the impact for the area. Video and editing: Nicholas Boyd.

Opec sees weaker demand for its crude next year as rivals surge

By: Bloomberg     11th October 2018 Opec is under intense pressure right now from consumers to ease prices by pumping more crude, but for 2019 it sees a more doubtful picture. The cartel cut its estimate for global demand for its crude next year due to weakening economic growth and higher output from rivals, notably US shale... 

IEA urges Opec to open the taps as oil market enters 'red zone'

By: Bloomberg     9th October 2018 The International Energy Agency made a direct appeal to Opec and other major oil producers to boost output, warning that prices are inflicting damage on the global economy. “We should all see the risky situation, the oil markets are entering the red zone,” IEA executive director Fatih Birol said... 

Mozambique signs oil exploration agreements with Exxon, Rosneft

By: Reuters     9th October 2018 The Mozambican government said on Monday it had signed oil exploration agreements with US energy firm Exxon Mobil and Russia's Rosneft. Mozambique's National Petroleum Institute, an energy regulator in the southern African country, said the government was preparing to sign similar agreements with... 

Technology cost assumptions used to produce IRP explained 

By: Terence Creamer     9th October 2018 An experienced electricity system modeller has corrected a suggestion that the draft 2018 Integrated Resource Plan (IRP 2018) uses levelised cost assumptions for the various generation technologies tested, explaining that overnight capital cost assumptions for each technology are key inputs. The... 

Technology cost assumptions used to produce IRP explained

Global growth at risk from $100 oil next year, BofAML says

By: Bloomberg     9th October 2018 If oil prices head above $100 a barrel, it could shave 0.2 percentage points from global economic growth next year -- but this hinges crucially on the dollar, according to Bank of America Merrill Lynch. Sanctions on Iran, shale bottlenecks, Venezuelan turmoil and increased demand pose an upside... 

Climate crisis spurs UN call for $2.4tn fossil fuel shift  

By: Bloomberg     8th October 2018 The world must invest $2.4-trillion in clean energy every year through 2035 and cut the use of coal-fired power to almost nothing by 2050 to avoid catastrophic damage from climate change, according to scientists convened by the United Nations. Their report published Monday adds pressure on... 

Petrochemicals becoming largest driver of global oil demand – IEA

By: Simone Liedtke     5th October 2018 Petrochemicals are becoming the largest drivers of global oil demand, ahead of cars, planes and trucks, a study undertaken by the International Energy Agency (IEA) has revealed. Petrochemicals, which are components derived from oil and gas that are used in all sorts of daily products such as... 

Fresh blow for emerging markets as rising oil hits importers

By: Bloomberg     4th October 2018 For years, higher oil prices have stoked gains in emerging-market currencies. But now, Brent crude’s rally to a four-year high is beginning to hurt them. Crude-oil futures rose above $85 a barrel this week for the first time since 2014 as concern about shrinking Iranian exports outweighed higher... 

Tullow Oil optimistic about prospects in Africa

By: Kim Cloete     2nd October 2018 Oil and gas exploration and production company Tullow Oil has outlined its sharper and deeper focus on Africa, with upbeat outlooks for its projects in both West and East Africa.   Despite a shift to cleaner energy and alternative energy sources, Tullow Oil also believes there will be strong... 

PetroSA says it is committed to ethical leadership

By: Kim Cloete     1st October 2018 PetroSA has told international and local players in the energy space that it is committed to ethical leadership and prudent business management. “What has become pronounced is the issue of ethics in State-owned entities (SoE) and more broadly in government and elsewhere. National oil companies... 

September fuel freeze not repeated in October as prices surge 

By: Terence Creamer     1st October 2018 Energy Minister Jeff Radebe has resisted the temptation of again intervening to freeze fuel-price increases, confirming on Monday that the price of petrol and diesel will surge sharply at midnight on October 3. With both the rand/dollar exchange rate and oil prices moving against South Africa... 

September fuel freeze not repeated in October as prices surge
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