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Topic - Oil Price
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Apr 22, 2016
SacOil CEO Thabo Kgogo
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...
Apr 20, 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...
Apr 15, 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...
Apr 01, 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.
Apr 01, 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,...
Mar 31, 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...
Mar 25, 2016
DETREMENTAL DROUGHT The end of the current drought will ensure crop production is restored fully
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...
Mar 22, 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,...
Mar 18, 2016
Mar 11, 2016
Mar 09, 2016
Mar 08, 2016
 
 
 
Mar 03, 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...
Feb 26, 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...
Feb 26, 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.
Feb 26, 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...
Feb 25, 2016
Murray & Roberts CEO Henry Laas
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...
Feb 24, 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,...
Feb 23, 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,...
Feb 19, 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...
Feb 18, 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...
Feb 17, 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...
 
 
 
 
Feb 11, 2016
Incoming joint Sasol CEO Bongani Nqwababa
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...
Feb 11, 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...
Feb 10, 2016
Craig Uren
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...
Feb 08, 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...
Feb 08, 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...
Feb 05, 2016
DE AAR SOLAR FARM Bidvest Panalpina Logistics was instrumental in the Northern Cape solar power project
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...
Jan 27, 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...
Jan 22, 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...
Jan 20, 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...
Jan 19, 2016
UK Revenues Grow To £140 Million and £4.5 Million Profit. Company Well Positioned For Oil Industry’s Call For Greater Co-operation Mechanical engineering group, EnerMech, grew revenue by 27% in 2014 with turnover rising to £258.9 million from £202.5 million, while...
 
 
 
 
Jan 15, 2016
Mining giant BHP Billiton on Friday warned of a $4.9-billion post-tax impairment ($7.2-billion pretax) on its onshore US oil and gas assets during the half-year ended December. The impairment followed a review of the company’s asset values and reflected the changes...
Jan 15, 2016
Mozambique’s capital Maputo was the large African city with the highest potential for inclusive growth, according to the 2015 MasterCard African Cities Growth Index (ACGI). Casablanca, in Morocco, and Lagos, in Nigeria, ranked second and third respectively.   Now in...
Jan 05, 2016
As the oil and gas industry continues to face a myriad of headwinds going into the new year, UK-based boutique advisory firm SP Angel believes 2016 will mark a transitional 12 months for the industry with a rising oil price. SP Angel, which is currently finalising...
Jan 05, 2016
While a year of hard work for property and consumer-related sectors appears likely, given economic and household sector income growth mediocrity, there is little to suggest any more than a mild interest rate hike in the coming 12 months, First National Bank household...
Dec 16, 2015
According to the Automobile Association, sliding global oil prices have offset the rand's plunge to all time lows against the dollar following Zuma's axing of Nhlanhla Nene last Wednesday to replace him with largely unknown ANC MP David van Rooyen. Zuma's U-turn on...
Dec 09, 2015
The global air cargo industry has experienced a difficult 2015, despite the drop in the fuel price. While the first quarter had seen growth, the rest of the year has not lived up to that promise. "Again, it goes without saying, it continues to be a challenging...
Dec 07, 2015
Mexico’s appeal for Canadian mining investment has remained rock solid, with almost $290-million in investment a year secured over the last five years via the TSX and TSX-V, an audience at OntheGround’s recent Mine Latin America seminar was told. However, security...
Dec 03, 2015
A new report by energy economics group EnergyQuest has revealed that it was unlikely that the commodity price slump would affect Australia’s liquefied natural gas (LNG) growth. EnergyQuest CEO Dr Graeme Bethune said on Thursday that the immediate LNG oversupply was...
Dec 02, 2015
Maputo
Mozambique’s capital Maputo was the large African city with the highest potential for inclusive growth, according to the 2015 MasterCard African Cities Growth Index (ACGI). Casablanca, in Morocco, and Lagos, in Nigeria, ranked second and third respectively. Now in...
Nov 20, 2015
Canada is holding its breath while 18 rookie federal Ministers are being briefed by their respective departmental officials as the country turns a new leaf following the recent federal election that saw the Liberal party form a majority government, ending a decade of...
 
 
 
 
Nov 16, 2015
Industrial brand management giant Barloworld has posted a 1% gain in revenue for the year ended September 30, attributing overall earnings of R62.7-billion to resilient performances from its automotive and equipment businesses, which buffered the company from...
Oct 30, 2015
With the current oil price hovering at $50/bl, governments will come under increasing pressure to entice investors not to put their oil and gas exploration and production projects on hold, says Martin Kavanagh, partner in global law firm Herbert Smith Freehills,...
Oct 27, 2015
Despite reporting a slight increase in sales volumes for the three months to September, ASX-listed Beach Energy's sales revenue fell 15% on the back of the falling oil price. Sales volumes for the quarter were up 1% quarter-on-quarter to 2.5-million barrels of oil...
Oct 23, 2015
Takeover target Santos has broken the one-million-tonne liquefied natural gas (LNG) sales volume barrier during the three months to September. The company reported on Friday that LNG sales volumes had more than doubled in 2015, with further growth expected in the...
Oct 23, 2015
CONSERVATION IMPERATIVE Sasol still plans to deliver remaining cash conservation benefits of between R30-billion and R50-billion over the following 24 months
The extensive business performance enhancement programme (BPEP), implemented in 2012 by integrated chemicals and energy company Sasol, has resulted in cost savings of R2.5-billion during 2015 – ahead of the group’s R1.5-billion financial-year target. Moreover, the...
 
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