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Oil & Gas News

IDC approves R218m loan for development of Free State natural gas project

By: Terence Creamer     24th May 2017 South Africa’s State-owned Industrial Development Corporation (IDC) has approved R218-million in loan finance to support the further development of a natural gas resource in the Free State through the creation of a 107-km pipeline network and associated gas processing facilities. The funding,... 

Company climate risk disclosure could become mandatory in a few years

By: Reuters     23rd May 2017 Companies' disclosure of risks to their business from climate change could become mandatory in a few years as investor pressure gathers pace, climate finance experts said on Tuesday. Investors have urged companies, particularly those operating in the oil, gas and coal sectors, to disclose the... 

Glencore predicts Opec insulated from electric vehicle impact

By: Reuters     23rd May 2017 Opec nations that deliver some of the lowest cost production will be relatively insulated from an early peak in oil demand caused by any faster-than-expected roll-out of electric vehicles, Glencore's chairman said on Monday. Members of the Organization of the Petroleum Exporting Countries meet... 

Glencore predicts Opec insulated from electric vehicle impact
Glencore chairperson Tony Hayward

Opec heads towards supply cut extension as Saudi signals most on board

By: Reuters     22nd May 2017 Opec and other oil producers are on course to agree an extension of supply cuts at a meeting on Thursday, with Saudi Arabia saying most participants are on board with the plan to rein in a global supply glut. Saudi Arabia's energy minister said on Sunday that extending the supply cuts by a... 

IPP Office to be incorporated into overhauled Central Energy Fund 

By: Terence Creamer     19th May 2017 South Africa’s highly respected Independent Power Producer (IPP) Office, which has overseen nearly R200-billion-worth of renewable-energy investment since 2011, is to be incorporated into the Central Energy Fund (CEF), which itself is to be overhauled. Energy Minister Mmamoloko Kubayi announced... 

IPP Office to be incorporated into overhauled Central Energy Fund
DoE director-general Thabane Zulu seconded to SFF as acting CEO

South Africa to decide on new oil refinery this year – Energy Minister 

By: Reuters     19th May 2017 South Africa, a net importer of refined oil products, needs a new refinery and the cabinet is expected to make a firm decision later this year on whether to build a new facility, the new energy minister said on Friday. Mmamoloko Kubayi told Parliament that a public-private partnership to develop... 

Deal opens way for new liquid bulk handling facility at the Port of Ngqura

By: Irma Venter     19th May 2017 Transnet National Ports Authority (TNPA) and Oiltanking Grindrod Calulo (OTGC) in May signed an agreement in Port Elizabeth that will see OTGC plan, fund, construct, maintain and operate a new liquid bulk handling facility at the Port of Ngqura, in the Eastern Cape. The facility’s concept... 

World record set after large oil rig lifted and shipped in one piece

By: Dylan Slater     19th May 2017 North Sea oil rig the Brent Delta platform, belonging to oil company Shell UK, was recently successfully lifted off of its three-legged structure in the Brent oilfield, about 180 km off the coast of the Shetland Islands last month, setting a world record for the heaviest single-piece lift at sea.  

World record set after large oil rig lifted and shipped in one piece
BRENT DELTA The large and ageing oil rig arrives at the Able Seaton Port to be recycled

Nigeria's NNPC finalising $6bn worth of oil-for-product swaps

By: Reuters     18th May 2017 Nigeria's state oil company is in the final stage of signing $6-billion worth of deals to exchange more than 300 000 bbl/d of crude oil for imported gasoline and diesel, sources with direct knowledge of the process told Reuters. The contracts, which come three months later than expected, include... 

Tullow says makes oil discovery in Kenyan well

By: Reuters     17th May 2017 Africa-focused oil company Tullow Oil said it encountered 75 m of net oil pay in two zones at an exploration well in Northern Kenya. The Emekuya-1 well, located in the South Lokichar basin in North-Western Kenya, would eventually be developed to full field development, the company said on Wednesday. 

South Africa may award first shale gas exploration licences by end-Sept 

By: Reuters     16th May 2017 South Africa's government may award its first shale gas exploration licences by the end of September, after environmental objections delayed the process, a senior government official said on Monday. The five licence applications under review are for exploration in the semi-arid Karoo basin. 

South Africa reviewing five shale gas exploration applications – official

By: Reuters     15th May 2017 Recommendations for South Africa’s first shale gas exploration licences in the semi-arid Karoo basin will be finalised soon after environmental objections delayed the process, a senior government official said on Monday. Royal Dutch Shell, Falcon Oil and Gas and Bundu Gas & Oil are among five... 

Cement and concrete affected by faltering construction industry

By: Tasneem Bulbulia     12th May 2017 The construction industry in South Africa – which is tied directly to the state of cement and concrete – is stuttering, but there is scope to improve, says chemicals solutions provider Chryso Southern Africa (Chryso) CEO Norman Seymore. It has been widely reported that the construction industry... 

Cement and concrete affected by faltering construction industry
Photo by Bloomberg
NOTHING CONCRETE A lack of major infrastructure projects in South Africa is negatively affecting the construction industry, thereby hindering the state of cement and concrete

Eastern Cape sets sights on becoming Africa’s leading fuel bunkering centre

By: Mia Breytenbach     12th May 2017 Following the successful introduction of a deep-sea bunkering service off the coast of  Port Elizabeth, in the Eastern Cape, the province has set itself the target of being the leading bunkering stopover in Africa, states Eastern Cape MEC for Rural Development and Agrarian Reform Mlibo... 

Eastern Cape sets sights on becoming Africa’s leading fuel bunkering centre
Photo by Duane Daws
TARGETING OPPORTUNITIES The Eastern Cape province is targeting liquid fuels, bunkering services and biofuels, gas-to-power generation and a commercial and industrial gas industry

Equatorial Guinea says has crucial Saudi support for Opec membership bid

By: Reuters     11th May 2017 Africa's third-biggest oil producer Equatorial Guinea said on Thursday it had crucial support from Saudi Arabia for its bid to become a member of the Organisation of the Petroleum Exporting Countries (Opec). The country also said in a statement it would stick to commitments to cut oil production... 

Afrox CFO resigns

     9th May 2017 Dorian Devers has resigned as CFO of JSE-listed African Oxygen (Afrox), effective July 31. He is relocating to New Zealand to pursue opportunities outside Linde Group. 

BP, Kosmos make major gas find off coast of Senegal

By: Reuters     8th May 2017 BP and joint venture partner Kosmos Energy revealed a major gas discovery off Senegal on Monday, adding to other recent finds off the West African coast. Oil majors including BP and Total are investing in the waters of Senegal and Mauritania in the hope of repeating the recent exploration success... 

PetroSA denies business rescue allegations

By: Megan van Wyngaardt     8th May 2017 State-owned oil and gas company PetroSA on Monday refuted claims that it had asked its holding company, the Central Energy Fund, to place it under business rescue, stating that it was not in “financial distress”. It said media reports last week about the alleged request were “inaccurate and... 

Nigeria village suing Eni for damages from pipe explosion – lawyer

By: Reuters     5th May 2017 A Nigerian village has filed a lawsuit in Milan against Italian oil company Eni demanding compensation for damage caused by an oil pipeline explosion in 2010, an Italian lawyer representing the village said on Thursday. The village of Ikebiri in the Niger Delta is asking Eni for €2-million... 

Internship academy launches young professionals platform

     5th May 2017 In response to the youth unemployment epidemic on the African continent, internship facilitators  Africa Internship Academy (AIA), will be launching its Young Energy and Power Professionals (YEPP) platform at the 2017 African Utility Week, which takes place at the  Cape Town International... 

Internship academy launches young professionals platform
NURTURING POTENTIAL The launch intends to establish a network of graduates attempting to solve Africa’s power and energy issues

Largest private IPP in Ghana on course for 2017 completion

By: Mia Breytenbach     5th May 2017 Ghanaian independent power producer Cenpower Generation Company’s Kpone Independent Power Plant (KIPP), which is expected to become a critical baseload component in meeting Ghana’s growing electricity demand, is expected to be commissioned before the end of 2017. Cenpower Generation Company’s... 

Largest private IPP in Ghana on course for 2017 completion
Photo by Cenpower Generation Company
BASELOAD COMPONENT The Kpone Independent Power Plant is a combined-cycle gas turbine power plant with a planned capacity of 340 MW and a multiple fuel operating capability

Platinum sponsor returns to African Utility Week

     5th May 2017 Conference and trade exhibition African Utility Week has welcomed back a long-standing supporter - global energy giant Shell. The oil company will again be a platinum sponsor at the conference and exhibition from May 16 to 18, in Cape Town. 

Oiltanking Grindrod Calulo, TNPA sign liquid bulk agreement

By: Irma Venter     4th May 2017 Transnet National Ports Authority (TNPA) and Oiltanking Grindrod Calulo (OTGC) on Thursday signed an agreement in Port Elizabeth that will see OTGC plan, fund, construct, maintain and operate a new liquid bulk handling facility at the Port of Ngqura, in the Eastern Cape. The facility’s concept... 

Oiltanking Grindrod Calulo, TNPA sign liquid bulk agreement
Photo by Duane Daws
The Port of Ngqura

Opec oil output falls in April but compliance weakens – survey

By: Reuters     2nd May 2017 Organization of the Petroleum Exporting Countries' (Opec's) oil output fell for a fourth straight month in April, a Reuters survey found on Tuesday, as top exporter Saudi Arabia kept production below its target while maintenance and unrest cut production in exempt nations Nigeria and Libya. But... 

South Africa may appeal court ruling on Russia nuclear pact 

By: Reuters     2nd May 2017 South Africa's government may appeal last week's court judgment declaring a cooperation pact with Russia's state-owned nuclear company Rosatom unlawful, the energy minister said on Tuesday. South Africa and Russia signed an Intergovernmental Agreement (IGA) in 2014 for cooperation between Rosatom... 

South Africa may appeal court ruling on Russia nuclear pact
Energy Minister Mmamoloko Kubayi

Fuel price to rise next week

By: African News Agency      27th April 2017 The Department of Energy has confirmed that the price of petrol in Gauteng will increase by 49c per litre on May 3. This is due to the international product prices of petrol increasing during the recent period, as well as the rand having depreciated against the US dollar. 

Fuel price to rise next week

Angola in full compliance with Opec output cuts – oil minister

By: Reuters     27th April 2017 Angolan oil minister José Maria Botelho de Vasconcelos said on Thursday his country was more than fully complying with Opec production cuts, and that he believed a deal to curb output would be extended beyond June. "Yes I think so," de Vasconcelos said at an industry event in Paris when asked... 

Angola in full compliance with Opec output cuts – oil minister

Oil market heading towards balance, more draws needed – Opec

By: Reuters     27th April 2017 Opec Secretary-General Mohammad Barkindo said on Thursday that an overhang in global oil inventories was declining but stockpiles still needed to fall closer to the five-year industry average. "While it is evident that the market rebalancing is now moving forward and investment specifically in... 

LNG-focused energy firm pursuing ‘diversified’ African investment pipeline

By: Terence Creamer     26th April 2017 Black-empowered energy company African Energy Partners (AEP), which plans to list as a special purpose acquisition company on the JSE’s AltX board on June 1, to raise up to R500-million to pursue liquefied natural gas (LNG) prospects in Africa, reports that its investment pipeline includes a... 

LNG-focused energy firm pursuing ‘diversified’ African investment pipeline
AEP CEO Edwin Kikonyogo

LPG industry urged to act on non-binding market inquiry findings 

By: Terence Creamer     24th April 2017 South Africa’s Competition Commission has made far-reaching, yet non-binding, recommendations for dealing with prevailing “market distortions” in the domestic liquid petroleum gas (LPG) sector following its first-ever market inquiry, which took nearly three years to complete. The report... 

LPG industry urged to act on non-binding market inquiry findings
Photo by Duane Daws
Commissioner Tembinkosi Bonakele and Minister Ebrahim Patel

DMR to brief Western Cape communities on shale gas development

By: Megan van Wyngaardt     21st April 2017 Mineral Resources Deputy Minister Godfrey Oliphant will on Tuesday host an information-sharing session with interested and affected communities and organisations in the Western Cape on the potential of shale gas development through hydraulic fracturing, or fracking. The Deputy Minister will... 

Bunkers improve product quality

     21st April 2017 Dutch axial control valve manufacturers Mokveld Valves BV has recently commissioned two new test bunkers for testing critical, high quality valve systems – used in process control applications for the oil and gas industries – thereby improving the quality and safety of the system. Mokveld, whose... 

Pressure, temperature transmitter launched for downhole applications

     21st April 2017 Last month, US-based Emerson Automation Solutions introduced the Paine 328-12-0010 pressure and temperature data logger and digital transmitter for process measurement and data logging in downhole drilling applications. The company notes that downhole drilling operators need to measure pressure... 

Pressure, temperature transmitter launched for downhole applications
PAINE 328-12-0010 It measures pressure and temperature with full-scale accuracy of about 0.05% and is able to withstand operating temperatures from -40 °C to 175 °C

Sasol finalises currency hedges worth $4bn

By: Terence Creamer     11th April 2017 Energy and chemicals group Sasol reported on Tuesday that it had finalised currency hedges with a total notional amount of $4-billion for its 2018 financial year. The hedges represent about 70% of its expected net rand/US dollar exposure for the period, which runs until June 30, 2018. The... 

Sasol finalises currency hedges worth $4bn

Govt gives green light for shale gas fracking in Karoo

By: News24Wire      30th March 2017 The government has given the go-ahead for shale gas development in the Karoo region, Mineral Resources Minister Mosebenzi Zwane said on Thursday. He revealed this during a community engagement on shale gas development in Richmond, in the Northern Cape. 

Erin Energy enters farm-out agreement over two oil blocks in The Gambia

By: Megan van Wyngaardt     27th March 2017 Dual-listed Erin Energy Corporation has entered into a definitive farm-out agreement with ASX-listed oil and gas company FAR, which will acquire an 80% interest and operatorship of Erin’s offshore A2 and A5 blocks in The Gambia. Erin Energy will retain a 20% working interest in both blocks. 

Pumps range included in offering to cater for demand

By: Simone Liedtke     24th March 2017 Technical solutions provider Bearing Man Group (BMG) is strategising to enhance its fluid technology services to meet growing market demand in diverse industries, including the pumps industry. 

Pumps range included in offering to cater for demand
PNEUMATIC GREASE TRANSFER About 180 kg of grease is being pumped and used daily at Richards Bay Minerals
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