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Nigeria's State-owned oil company considers refinery partnerships

By: Reuters     14th August 2018 Nigerian National Petroleum Corporation (NNPC) could allow private investors to install two refineries on two of its sites, the State-owned oil company said on Tuesday. NNPC said in a statement that it was considering plans to establish a 100 000 bbl/d brownfield refinery at its Port-Harcourt and... 

Threat of contagion in emerging markets deepens commodity risk

By: Bloomberg     13th August 2018 When Thailand devalued its currency two decades ago, few in global commodity markets took note. Within a year, the crisis morphed into an emerging-market rout that eviscerated the price of everything from crude oil to copper. Fast forward to today and Turkey is presenting a similar challenge. The... 

Forward-looking Epiroc makes a move in Mozambique

13th August 2018 The drive to become a stronger partner and bolster services to customers in Mozambique fueled the decision by global mining equipment specialist, Epiroc, to relocate to larger premises in Maputo on 1 July 2018. Epiroc made the bold decision to establish a foothold in Mozambique with the opening... 

Forward-looking Epiroc makes a move in Mozambique

13th August 2018 The drive to become a stronger partner and bolster services to customers in Mozambique fueled the decision by global mining equipment specialist, Epiroc, to relocate to larger premises in Maputo on 1 July 2018. Epiroc made the bold decision to establish a foothold in Mozambique with the opening... 

Fibre optics punted for pipeline monitoring amid major spills in mining and other sectors

By: Nadine James     10th August 2018 Fibre optics were invented to carry huge amounts of voice data over long distances very efficiently, but advancements in optical technology have enabled the use of specialised fibre optic cables as sensors with the ability to measure parameters such as acoustic energy, temperature, strain, and... 

Glencore closing in on oil deal, transacting with Eskom

By: Martin Creamer     8th August 2018 The local downstream oil investments of diversified mining and marketing company Glencore are expected to be concluded in the near future. Talking during a media conference after the Johannesburg- and London-listed company posted outstanding half-year results that won analyst applause, Glencore... 

Mozambique finalises block 5 oil deals with multinational firms

By: Reuters     8th August 2018 Mozambique's government on Tuesday approved contracts giving exclusive rights to energy companies to act on concessions awarded to them to explore for oil following four years of negotiations and delays that threatened to derail the projects. Cabinet spokesperson Ana Comoana said the companies... 

Rosneft more than triples Q2 net profit, shares hit record

By: Reuters     7th August 2018 Russia's largest oil producer Rosneft said on Tuesday its second-quarter net profit more than tripled to 228-billion roubles on higher production and prices, pushing its shares to an all-time peak. Rosneft, in which Qatar is set to become the third-largest shareholder after the Russian state and... 

Redefining philanthropy

By: Martin Zhuwakinyu     3rd August 2018 Aliko Dangote, Africa’s richest man – with a net worth of $12.4-billion – is redefining philanthropy in his native Nigeria. But the 61-year-old is doing this in a way that will make his bank account even fatter. Dangote Group, the 30 000-employee multinational industrial conglomerate he founded... 

Road-rail vehicle innovator introduces RailBus

By: Jessica Oosthuizen     3rd August 2018 Olifantsfontein-based road-rail vehicle (RRV) manufacturer RailPro has developed a bimodal vehicle that transports people and goods on road and rail, says MD Ed Magan. The vehicle, called RailBus, was launched in June. 

Commission granted 15-day extension in proposed OTS, Chevron South Africa merger

By: Creamer Media Reporter      2nd August 2018 The Competition Tribunal has granted the Competition Commission a 15 working day extension to consult interested parties to a proposed merger between Off the Shelf 56 (OTS) and Chevron South Africa (CSA). OTS, which already owns 25% of CSA, is seeking to acquire the remaining 75% interest in CSA... 

Oil Search restarts Agogo

By: Esmarie Swanepoel     1st August 2018 ASX-listed Oil Search on Wednesday told shareholders that the Agogo production facility, in Papua New Guinea, has resumed operations following repair works necessitated by an earthquake in February. With the restart of the Agogo facility, all of the Oil Search-operated facilities are now on line. 

Sherritt sees soft cobalt prices as temporary trend

By: Reuters     1st August 2018 Sherritt International Corp said on Tuesday that recent weakness in the price of cobalt, a key material in rechargeable batteries, is expected to be temporary as demand continues to grow from the electric vehicle market. Toronto-based Sherritt said prices softened in the second quarter on... 

Senex secures A$150m for project development

By: Esmarie Swanepoel     31st July 2018 ASX-listed Senex Energy has entered into a fully underwritten A$150-million debt facility to fund the development of its east coast gas projects and Cooper Basin assets. The debt facility includes a A$125-million senior secured reserve based lending facility with a seven-year tenor and... 

Petrol price to rise 1c/ℓ in August

By: Simone Liedtke     30th July 2018 The petrol price will increase by 1c/ℓ on August 1, while the diesel price will decrease by 4c/ℓ, the Central Energy Fund (CEF) has revealed. Illuminating paraffin will increase by 4c/ℓ and liquefied petroleum gas by 17c/kg. 

Anglo draws line in sand for thermal coal

By: Martin Creamer     27th July 2018 Anglo American has drawn a line in the sand for its thermal coal portfolio. With 14 more years of life in existing assets, the company made it clear this week that it would engage in incremental expansion where it made sense, but not in long-term growth projects. Anglo has halved its footprint in... 

Biodegradable polymer market value to grow to $1.7bn by 2023

By: Marleny Arnoldi     27th July 2018 As plastic regulations and bans on plastic bags and other single-use plastic items such as drinking straws increase globally, the demand and, therefore, market value of biodegradable polymers exceeds $1-billion and will rise sharply to $1.7-billion by 2023, says global information provider IHS... 

BHP sells onshore US assets for $10.8bn

By: Esmarie Swanepoel     27th July 2018 Mining major BHP has struck deals to divest of its onshore US oil and gas assets for $10.8-billion in cash. BP American Production Company, a subsidiary of energy major British Petroleum (BP), has agreed to acquire all of the issued share capital of Petrohawk Energy Corporation, which holds the... 

Limited gas exploration affects South Africa’s energy mix

By: Melissa Zisengwe     27th July 2018 Gas could soon become an important element in the South African energy mix, despite the amount of gas used currently being very low, with limited imports and exploration activities, says South African Oil & Gas Alliance (SAOGA) CEO Niall Kramer. “South Africa’s gas usage is about 3% of our total... 

Ford hits carbon emissions reduction target eight years early

27th July 2018 In June, automotive manufacturer Ford Motor Company announced that it had met its goal to reduce manufacturing emissions – eight years ahead of schedule. Ford hit the target twice as fast as expected. The results are dramatic, with a global manufacturing carbon emissions reduction of more than... 

Kusile power plant project, South Africa

By: Sheila Barradas     27th July 2018 Eskom has signed a loan agreement with the China Development Bank for the Kusile power station. 

Chile’s Finance Minister downplays copper’s decline, sees prices rebounding

By: Bloomberg     25th July 2018 Chile’s Finance Minister Felipe Larrain downplayed the recent slump in copper prices, forecasting that they would rebound, underpinning growth in the world’s largest producer of the red metal. "The fall in the price of copper is concerning but we are looking at a forecast in the long-term,"... 

Rising profits meet trade fears as commodity producers report

By: Bloomberg     24th July 2018 Investors will probably like most of what they see when energy, mining and farm-products companies report earnings for the most recent quarter. It’s the rest of the year they’re worried about. Commodity bellwethers including Exxon Mobil, Freeport-McMoRan, and Archer-Daniels-Midland are among a... 

Commodity price volatility will prevail as long as trade war threats prevail – BMI

By: Marleny Arnoldi     20th July 2018 Research firm BMI says most commodity prices will remain neutral on a three-month horizon, with the exception of oil prices which it expects to increase. Commodity prices performed poorly over June and July, but BMI believes the downside is limited for now as the drop in sentiment overshot... 

Metgasco turns to Mexican Gulf

By: Esmarie Swanepoel     19th July 2018 ASX-listed Metgasco has entered into an agreement with fellow listed Byron Energy to farm-in to the South Marsh Island block, in the Gulf of Mexico. Metgasco will gain a 30% interest in the project through funding 40% of the cost of an initial test well to casing point, as well as certain... 

Oil change - What happens to used lubricating oil in South Africa?

19th July 2018 Global warming and environmental pollution has intensified our need to recycle our limited natural resources and to extend the lifespan of the manufactured products we use. The lubricants industry is no exception and currently in South Africa most of the used oil collected is recycled into... 

SA business delegation arrives in Angola for trade and investment mission

By: African News Agency      16th July 2018 The South African business delegation arrived in Luanda, Angola on Monday, for a five-day trade and investment mission. The mission is led by the Deputy Minister of Trade and Industry, Bulelani Magwanishe, and is set to take place from Monday until July 21. 

Pronounced growth for compressed air systems specialist

13th July 2018 South African turnkey air compressor services supplier Integrated Air Solutions has seen a notable increase in demand for highly customised compressors, adapted specifically to the customer’s individual need. Air compressor manufacturer ELGi’s comprehensive compressor range available from... 

SA halts oil exploration permits to revamp licensing

By: Bloomberg     13th July 2018 South Africa’s Department of Mineral Resources has issued a moratorium on new applications for petroleum exploration and development in order to change its licencing process. The restriction won’t affect applications received before the date of publication of the notice, which appeared in the... 

Saudi Arabia pledges to invest R133bn in South African energy sector

By: News24Wire      12th July 2018 President Cyril Ramaphosa’s ambitious plan to attract $100-billion to kick start the country’s struggling economy got a major boost on Thursday, when Saudi Arabia committed to invest $10-billion (about R133-billion) in the country. This is expected to be invested in the energy and power creation... 

World's oil cushion could be stretched to the limit, IEA warns

By: Reuters     12th July 2018 The world's oil supply cushion could be stretched to the limit due to prolonged outages, supporting prices and threatening demand growth, the International Energy Agency (IEA) said on Thursday. The expected drop in Iranian crude exports this year due to renewed US sanctions, coupled with a... 

Opec sees lower 2019 demand for its oil, points to surplus returning

By: Reuters     11th July 2018 Opec on Wednesday forecast world demand for its crude will decline next year as growth in consumption slows and rivals pump more, pointing to a market surplus returning despite an Opec-led pact to restrain supplies. Giving its first 2019 forecasts in a monthly report, the Organization of the... 

Libyan NOC announces reopening of key oil export terminals

By: Reuters     11th July 2018 Libya's Tripoli-based National Oil Corp (NOC) said on Wednesday that four export terminals were being reopened after eastern factions handed over the ports, ending a standoff that had shut down most of the country's oil output. Production and export operations would be restored "within the next... 

Stocks decline as Trump reloads the tariff bazooka

By: Bloomberg     11th July 2018 Stocks fell, the dollar gained and commodities slid with emerging-market assets after the US fired a new shot in its brewing trade war with China. S&P 500 futures slumped with the Stoxx Europe 600 Index and MSCI Asia Pacific Index following the Trump administration’s release of the biggest list... 

Brazil's Petrobras nears $1.3bn sales of African venture stake – paper

By: Reuters     10th July 2018 Brazilian State-controlled oil company Petróleo Brasileiro SA is close to agreeing the sale of its stake in an African venture for around $1.3-billion, newspaper Valor Econômico said on Tuesday. Petrobras, as the company is known, owns 50% of Petrobras Oil & Gas BV, or Petrobras Africa. Grupo BTG... 

Davies to lead South African delegation at Agoa Forum

By: Marleny Arnoldi     9th July 2018 Trade and Industry Minister Dr Rob Davies will lead the South African delegation at the seventeenth African Growth and Opportunity Act (Agoa) Forum, to be held in the US, from July 11 to 12.  

BP is front-runner to buy BHP's US shale unit

By: Bloomberg     8th July 2018 BP has emerged as the front-runner to buy BHP Billiton’s onshore oil and gas operations in the US, according to a person familiar with the matter. The London-based oil major has made the highest offer for the assets, which BHP prefers selling in a single package, said the person, who asked to... 

Emergency rescue mask available in Africa

By: Paige Müller     6th July 2018 Local safety equipment supplier Dromex now holds the sole distribution rights in Africa for the internationally distributed safety-critical Duram escape mask. The emergency evacuation mask, manufactured in Israel, is designed to provide respiratory protection and reduce the health risk and... 

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