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Scotiabank index stronger on oil, copper rally

By: Megan van Wyngaardt     5th December 2016 The Scotiabank Commodity Price Index gained 9.1% month-on-month in October, supported by large positive moves in both the oil and gas and metals and minerals sub-indices. Of note in each of these markets are the recently concluded Organisation of the Petroleum Exporting Countries (Opec) agreement... 

BP sanctions Mad Dog Phase 2 in Gulf of Mexico

By: Esmarie Swanepoel     2nd December 2016 Oil major British Petroleum (BP) has sanctioned the $9-billion Mad Dog Phase 2 project, in the US, which will include a new floating production platform with a 140 000 bbl/d capacity. Oil production is expected to begin in late 2021. 

Kenya to pilot oil production from June

By: John Muchira     2nd December 2016 Kenya has unveiled an Early Oil Pilot Scheme in terms of which it will produce 2 000 bbl/d of crude oil from June next year. Ministry of Energy and Petroleum principal secretary Andrew Kamau says "the Early Oil Pilot Scheme is not a money making operation", explaining: "We are simply proving our... 

Project to add 260 000 jobs by 2019

By: Simone Liedtke     2nd December 2016 With its objective of increasing the economic contribution of three key focus sectors by up to R59-billion, the Western Cape government has put in place its Project Khulisa growth strategy, which also aims to add about 260 000 jobs across these sectors. 

BMI expects soft oil price recovery in 2017

By: Anine Kilian     18th November 2016 While the global outlook for oil is relatively bullish going into next year, there will be a soft oil price recovery, according to BMI oil and gas head Chris Haines. Speaking during a webinar session focused on the global oil and gas industry on Thursday, Haines noted that BMI expected to see... 

Oil demand won't peak before 2040, despite Paris deal – IEA

By: Reuters     17th November 2016 The International Energy Agency expects global oil consumption to peak no sooner than 2040, leaving its long-term forecasts for supply and demand unchanged despite the 2015 Paris Climate Change Agreement entering into force. The Paris accord to cut harmful emissions seeks to wean the world... 

Company experiences growth despite difficult environment

     4th November 2016 Valve distributor TTV Fluval Group of companies is celebrating 18 years of success in the South African market, further illustrated and encapsulated by this year’s numerous successfully completed projects resulting in a total invoicing for valves and actuators amounting to more than R180-million.... 

Oanda posts 26% increase in interim turnover

By: Anine Kilian     2nd November 2016 Dual-listed Oando has lifted its turnover to N330-billion for the six months ended September 30, compared with the N262-billion turnover recorded in the prior interim period. Gross profit decreased by 52% to N28.7-billion, but its after-tax loss narrowed 25% to N35.9-billion for the six months... 

Robotic tank floor eliminates risks

By: Robyn Wilkinson     21st October 2016 Oil, gas and petrochemicals services provider A.Hak Industrial Services (A.Hak) will introduce a Robotic online storage tank floor inspection service in South Africa before the end of this year. This new technology eliminates the need for storage tanks to be decommissioned for lengthy periods for... 

Bloodbath in African stock markets

By: News24Wire      4th October 2016 Most African stock markets suffered heavy losses for the nine months to end-September 2016, amid concerns that economic growth for rest of 2016 are going to decline further. According to the World Bank's latest Africa's Pulse report, economic growth in sub-Saharan Africa is expected to fall... 

Astrapak strategy bears fruit as interim profit rises

By: Megan van Wyngaardt     29th September 2016 Packaging company Astrapak on Thursday reported a 25.4% year-on-year increase in its profit of R27.6-million for the six months ended August 31, while its revenue rose 15.2% year-on-year to R734-million. The increases came on the back of the company having exited all noncore businesses and... 

Origin appoints new CEO

By: Esmarie Swanepoel     9th September 2016 ASX-listed Origin Energy has appointed Frank Calabria, the current CEO of its energy markets business, as the new MD and CEO to replace Grant King, who will retire at the end of October. Calabria joined Origin as CFO in 2001, and was appointed as the CEO of the energy markets business in 2009. He... 

Big oil capex cuts may lead to supply deficit by 2025 – Wood Mackenzie

By: Terence Creamer     5th September 2016 An analysis of global oil markets conducted by Wood Mackenzie indicates that, following a period of structural oversupply, markets are “rebalancing” in a way that will support a steady recovery in prices to around $60/bl by the end of 2017. More startlingly, however, the energy and commodity... 

African industry urged to use oil downturn to address regulatory uncertainty

By: Schalk Burger     2nd September 2016 Though the depressed global oil price has led to reduced activity in the oil and gas sector across Africa, the industry should improve skill levels and governments should improve regulatory frameworks and licence systems to prepare for when price and activity increases, says PwC Africa Oil and... 

Industry challenges blunt investment in oil and gas sector

     2nd September 2016 Demand for oil and gas from markets in Africa remains high but low crude prices combined with poor physical infrastructure, inadequate logistical solutions and onerous government regulations have blunted investment in oil and gas field development, says independent oil and gas company SacOil... 

Phase 1 of refinery expansion project to be completed this year

     2nd September 2016 The Cameroonian government is planning to complete the first phase of the expansion and modernisation works at national refinery company Sonara’s refinery later this year, which will lead to an increase in production. According to local media, the refinery – the only one in the country – has been... 

Africa offers many oil, gas opportunities – PwC

By: Anine Kilian     22nd August 2016 Now is an opportune time for governments in Africa wanting to attract oil and gas investors to reform their regulatory, fiscal and licensing systems, says PwC Africa oil & gas advisory leader Chris Bredenhann. Speaking at the launch of PwC’s ‘Africa Oil & Gas Review 2016’ in Rosebank, on Monday,... 

Biggest miners’ project spending reboot signals rebound firming

By: Bloomberg     17th August 2016 The world’s two largest mining companies are planning to raise capital expenditure from decade lows as a firming rebound in commodity prices paves the way for at least $12-billion of growth projects. BHP Billiton Ltd., the No. 1 miner, expects to raise spending by 15% in fiscal 2018, while Rio... 

DTI calls for more to be done to boost local manufacturing

By: Shirley le Guern     16th August 2016 Significant successes characterise the national industrial effort but much more needs to be done to achieve the required scale and a higher impact industrial policy, Department of Trade and Industry (DTI) chief director Nigel Gwynne-Evans told delegates at the Manufacturing Indaba, in Durban, on... 

Santos flags $1bn Gladstone LNG charge on gas supply

By: Bloomberg     15th August 2016 antos will take a $1.05-billion writedown on its Gladstone LNG project due to rising prices for third-party gas supplies and slower-than-expected ramp up of its own equity output to feed the export project. The non-cash charge on the liquefied natural gas (LNG) development in Queensland, which... 

Infrastructure development critical to the success of the oil, gas industry 

By: Anine Kilian     12th August 2016 Demand for oil and gas in Africa remains high but low crude prices combined with poor physical infrastructure, inadequate logistical solutions and onerous government regulations have stunted investment in oil- and gasfield development, says SacOil CEO Thabo Kgogo. He believes industry activity on... 

Africa one of only two regions achieving FDI project growth – EY

By: Anine Kilian     25th July 2016 Sub-Saharan Africa remains one of the fastest growing regions in the world according to advisory firm EY’s 2016 Africa attractiveness programme, entitled Staying the course. This is reflected in the foreign direct investment (FDI) levels in 2015, where FDI project numbers increased by 7%. 

Santos half-year production hits record

By: Mariaan Webb     22nd July 2016 Oil and gas company Santos produced a record 31.1-million barrels of oil equivalent in the first half of 2016 and significantly boosted its sales volumes, but a 29% decrease in the average realised oil price has dented its revenue. Santos increased its production by 10% year-on-year in the first... 

Boeing, Mango in Africa's first jet biofuel flight 

By: Anine Kilian     15th July 2016 Aircraft manufacturer Boeing, along with South African Airways (SAA) and its low-cost carrier Mango on Friday celebrated Africa’s first commercial passenger flights using sustainable aviation biofuel. The flights used sustainable jet biofuel produced from research and development company... 

Falling commodity prices, Chinese slowdown weigh on economic growth in sub-Saharan Africa 

By: Anine Kilian     11th July 2016 Sub-Saharan Africa’s (SSA’s) economy is likely to grow by 2.6% this year, says international trade credit insurer Coface.   It points out that commodity prices had plummeted 45% in two years, while the oil price had fallen almost 60% to around $50/bl, placing strain on countries that are heavily... 

Citigroup is ‘bullish on commodities’ for 2017 as Brexit to fade

By: Bloomberg     11th July 2016 Forget Brexit, go for raw materials. Citigroup Inc. says that it’s bullish on the outlook for commodities in 2017 as the impact of the UK’s vote to quit the European Union will fade, global growth chugs along and investors will plow more cash into funds. “Citi is especially bullish commodities... 

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... 

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... 

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