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Truck group seeks to regain lost market share after restructuring

By: Irma Venter     24th June 2016 Following a slump in truck sales in South Africa in 2015, MAN Truck & Bus South Africa (SA) and MAN Sub-Equatorial Africa MD Markus Geyer is confident the company can win back its lost market share “within a year”. The local arm of the German group sold 1 317 trucks in South Africa in 2015, at a... 

Africa’s richest man got a fistful of dollars in Nigerian currency squeeze

By: Reuters     23rd June 2016 As Nigeria grapples with a foreign exchange crisis, one person stands out in the scramble to obtain hard currency: Aliko Dangote, Africa's richest man. When the government restricted the supply of dollars in June 2015 to prop up the value of the Nigerian naira, firms owned by Dangote landed a... 

Airbus planning to deliver 650 airliners

By: Keith Campbell     17th June 2016 Airbus President and CEO Fabrice Brégier told the world's aviation media at the company’s recent Innovation Days briefing that "[t]he focus for 2016 is, no surprise, it is to deliver!" The company, part of the wider Airbus Group, is currently seeking to ramp up production and deliveries of its... 

MAN aims to win back lost market share; van on the horizon

By: Irma Venter     8th June 2016 Following a slump in truck sales in South Africa in 2015, MAN Truck & Bus South Africa (SA) and MAN Sub-Equatorial Africa MD Markus Geyer is confident the company can win back its lost market share “within a year”. The local arm of the German group sold 1 317 trucks in South Africa in 2015, at a... 

Airbus focused on meeting its promises for this year

By: Keith Campbell     31st May 2016 Airbus president and CEO Fabrice Bregier told the world's aviation media on Tuesday that "[t]he focus for 2016 is, no surprise, it is to deliver!" The company, part of the wider Airbus Group, is currently seeking to ramp up production and deliveries of its new A350-900 wide body and re-engined... 

Queensland petroleum exploration activity in decline

By: Creamer Media Reporter      18th May 2016 Queensland has suffered a severe decline in petroleum exploration over the past five years, with the state leading a national decline in both onshore and offshore exploration activity, the Australian Petroleum Production and Exploration Association (Appea) reported on Wednesday. Appea director... 

AWE sells its interest in the Bulu PSC

By: Esmarie Swanepoel     5th May 2016 ASX-listed AWE has continued with its strategy of divesting of its non-core assets, announcing on Thursday the sale of its 42.5% interest in the Bulu production sharing contract (PSC) for A$27.5-million in cash. The Bulu PSC is located offshore east Java and included the undeveloped Lengo gas... 

SacOil JV awarded crude oil allocation by Nigerian oil corporation

By: Samantha Herbst     22nd April 2016 JSE- and Aim-listed oil and gas company SacOil and Nigerian oil firm Energy Equity Resources (EER) have signed of a memorandum of understanding to explore oil and gas opportunities in Nigeria. SacOil announced on Friday that it had officiated the planned joint venture with EER to establish SacOil... 

Ensuring future growth and sustainability in challenging times: EBH Namibia puts strategic stabilisation plan into action

     20th April 2016 Like all stakeholders in the international oil and gas industry, leading ship repair company, Elgin Brown & Hamer (EBH) Namibia, has been closely tracking the sliding oil price since it dropped to below US$ 80 per barrel in late 2014. In anticipation of the ‘lag effect’ of the sustained low oil... 

Middle East, North Africa on mining periphery despite hosting 30% of the world’s minerals 

By: Ilan Solomons     15th April 2016 Despite hosting more than 30% of global mineral reserves, the Middle East and North Africa (MENA) region severely lacks exploration and resource development investment. The region’s mining industry is facing several challenges, such as social and environmental pressure from communities living... 

SA drawing on 150 experts as rigorous Karoo shale-gas enviro assessment advances

By: Dylan Slater     1st April 2016 The development of shale gas projects in South Africa was halted with the 2011 issuing of a moratorium on the issuing of shale gas exploration licences within the central Karoo, which has subsequently been lifted.  

SA, Chinese firms team up on Moz–Gauteng gas pipeline study

By: David Oliveira     1st April 2016 JSE- and Aim-listed oil and gas company SacOil signed a cooperation agreement with the China Petroleum Pipeline Bureau (CPPB) last month for the possible construction of a gas processing facility near the Rovuma basin, in Mozambique, as well as a 2 600-km-long, large-diameter pipeline to... 

Teck forges ahead with Fort Hills, expects big reward when cyclical market rebounds

By: Henry Lazenby     31st March 2016 Canadian diversified miner Teck Resources is aiming to end 2016 with more than $500-million cash in the bank despite funding its portion of the Fort Hills oil sands project construction, in Alberta, and dealing with low commodity prices across its core portfolio. The Vancouver-based company, the... 

Drought, low oil price weighing down ethanol industry

By: Simon Sonnekus     25th March 2016 The ethanol industry in South Africa remains lacklustre, owing to various issues, including low Brent crude oil prices, the persisting drought in the sugar cane-producing regions and the lack of policy implementation, says Ethanol Producers Association of Southern Africa chairperson Peter... 

New Hope Coal returns to profit despite lower output, weak prices 

By: Esmarie Swanepoel     22nd March 2016 Coal miner New Hope Coal has swung back into black during the six months ended December, as cost management initiatives delivered results. The company reported on Tuesday that it had made a net profit of A$2.7-million in the first half of the 2016 financial year, compared with a net loss of... 

Electric vehicles forecast to comprise 35% of new light-duty car sales by 2040

By: Irma Venter     18th March 2016 The future of electric vehicle (EV) could be brighter than governments and oil companies have anticipated. New research by Bloomberg New Energy Finance (BNEF) suggests that further, big reductions in battery prices lie ahead, and that EVs will, in the 2020s, become a more economic option than... 

Africa M&A remains buoyant, says Standard Bank

By: Anine Kilian     11th March 2016 Africa’s mergers and acquisitions (M&A) landscape remains buoyant, says Standard Bank, which expects to see more opportunities than ever before in 2016.   The bank noted this week that global M&A activity had been very high in 2015, almost eclipsing the previous record levels set in 2007. The... 

Australia needs more diverse gas supply sources – competition watchdog

By: Esmarie Swanepoel     9th March 2016 The Australian Competition and Consumer Commission (ACCC) has called for the development of more gas resources to combat high gas prices on the Australian east coast. Speaking at a conference in Sydney, ACCC chairperson Rod Sims said that there was an urgent need for new and more diverse sources... 

Sasol outlines dual Southern Africa, North America growth plans 

By: Martin Creamer     8th March 2016 Despite the lower-for-much-longer oil price outlook, integrated chemicals and energy company Sasol is remaining focused on executing growth projects in Southern Africa and North America as part of a dual regional strategy. In presenting 63%-lower earnings attributable to shareholders in the six... 

Hedging policies important for business

By: Anine Kilian     3rd March 2016 A major challenge hedge fund managers face when working with clients is that people believe they can predict what the currency forecast would be, which is difficult owing to the unpredictability of exchange rates, Standard Bank Foreign Exchange and Money Market sales manager Eric Freemantle said... 

Electric cars to comprise 35% of new-vehicle sales by 2040, says study

By: Irma Venter     26th February 2016 The future of electric vehicle (EV) could be brighter than governments and oil companies have anticipated. New research by Bloomberg New Energy Finance (BNEF) suggests that further, big reductions in battery prices lie ahead, and that EVs will, in the 2020s, become a more economic option than... 

I’m all for a new oil refinery in South Africa

By: Kelvin Kemm     26th February 2016 A while ago, I was tasked to carry out an investigation linked to the movement of oil and processed fuel into the country. It was not new to me; I had been involved in that sphere before, but it has been rolling around in my head. 

Rand weakness to affect truck prices, Isuzu warns

By: Irma Venter     26th February 2016 The price of a new truck in South Africa will probably increase by around 10% in the first half of this year, estimates Isuzu Truck South Africa (ITSA) director and COO Craig Uren, with another 5% possible in the second half of 2016. These general price increases are the result of the rand, which... 

M&R eyes R558bn project pipeline

By: Natasha Odendaal     25th February 2016 JSE-listed construction group Murray & Roberts (M&R) is eyeing a half-a-trillion-rand project pipeline; however, there is some uncertainty around the timing of the potential opportunities. The group, which posted an improvement in its financial performance during the six months to December 31,... 

S Africa’s economic weakness revealed through global economic woes

By: Natasha Odendaal     24th February 2016 The deepening global economic crisis has exposed South Africa’s weaknesses, the depth of the nation’s external vulnerabilities and the internal constraints that limit its potential for growth, the National Treasury said on Wednesday. Unpacking the 2016 Budget, Finance Minister Pravin Gordhan... 

Puma Energy moves to fill South Africa’s growing cleaner-fuels market gap

By: Terence Creamer     23rd February 2016 Independent mid- and downstream energy group Puma Energy is moving aggressively to fill what it perceives to be a growing market gap for cleaner fuels in South Africa, where demand is rising ahead the domestic refining industry’s capacity to supply. The company, which is associated with commodity... 

Santos posts A$2.7bn loss on impairments, low oil price

By: Mariaan Webb     19th February 2016 Asset writedowns of A$2.8-billion after tax have plunged Australian oil and gas producer Santos into a full-year loss of A$2.7-billion. The impairment charges were primarily a reflection of the current oil price environment and related predominately to the company’s Cooper basin, Gladstone... 

Origin Energy widens H1 loss to A$254m

By: Mariaan Webb     18th February 2016 Sydney-headquartered Origin Energy has widened its loss to A$254-million in the first half of the 2016 financial year, from a loss of A$25-million in the corresponding period. The group’s revenue decreased by 14% year-on-year to A$6.13-billion in the six months to the end of December 2015. 

$60/bl oil price the ‘new normal’, but Africa is not benefiting

By: Natasha Odendaal     17th February 2016 The current low oil price environment will become the “new normal” with no end in sight in the downward trend; however, oil-importing African countries were not benefiting on the back of contracted budgets and unstable currencies. This emerged on Wednesday during a panel discussion at the Africa... 

'Simplistic’ to correlate Sasol with oil price as chemicals contribution rises

By: Terence Creamer     11th February 2016 Incoming joint Sasol CEO Bongani Nqwababa believes “simplistic” correlations of the company’s performance to the oil price will become less relevant in coming years as the revenue and profit contribution of its chemicals business rises in line with its large North American expansion projects.... 

Gold demand remained flat in 2015 – WGC

By: Anine Kilian     11th February 2016 Global gold demand of 4 212 t in 2015 was virtually flat compared with that of 2014, according to the World Gold Council’s (WGC’s) latest Gold Demand Trends report, released on Thursday. Despite a challenging start to the year, gold demand had rebounded in the second half of 2015 as a result of... 

Truck industry could face 8% drop in sales, 15% jump in price

By: Irma Venter     10th February 2016 The price of a new truck in South Africa will probably increase by around 10% in the first half of this year, estimates Isuzu Truck South Africa (ITSA) director and COO Craig Uren, with another 5% possible in the second half of 2016. These general price increases are the result of the rand, which... 

Sub-Saharan Africa consumer confidence levels remain steady

By: Anine Kilian     8th February 2016 Despite a number of African countries being buffeted by falling commodity prices and fluctuating currencies in 2015, the latest Nielsen Consumer Confidence Index results have provided relatively stable overviews of East, West and South Africa, with Nigeria positioned at 127, Ghana at 104, Kenya... 

LNG exports boost Australia’s trade balance

     8th February 2016 For the first time in more than five years, Australia’s liquefied natural gas (LNG) and petroleum exports nearly completely offset the costs of importing crude oil, petrol and other petroleum products. Energy analyst EnergyQuest revealed on Monday that Australia’s total trade deficit across all... 

IDZs and policy implementation key to energy-sector development

By: Nadine James     5th February 2016 The continuous progression of South Africa’s industrial development zones (IDZs) and special economic zones (SEZs) as well as the implementation of associated legislation are crucial for the sustainable growth of the energy sector, says supply-chain specialist Bidvest Panalpina Logistics (BPL)... 

UN urges SA to introduce controls on short-term capital flows

By: African News Agency      27th January 2016 The United Nations has urged South Africa to introduce controls on short-term capital movements in and out of the country, to prevent further large depreciations of the rand. Adam Elhiraika, director of macroeconomic policy at the UN Economic Commission for Africa (ECA), said on Tuesday that the... 

Santos ‘well placed’ to withstand low oil price, reports strong output

By: Esmarie Swanepoel     22nd January 2016 Oil and gas major Santos has achieved its highest yearly production rate since 2007, on the back of a strong December quarter. Santos produced 14.9-million barrels of oil equivalent in the December quarter, which was in line with the 15.1-million barrels produced in the previous corresponding... 

Rand eyes R17/$ on oil rout

By: News24Wire      20th January 2016 The rand was on the backfoot on Wednesday ahead of inflation data due at 10:00 and as the oil turmoil continued on renewed oversupply fears. The local unit managed to move just below R16.60 against the greenback and was trading in the R16.60s for most of Tuesday before sliding quickly after the... 

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