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Topic - Oil Price
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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 21, 2016
Jan 20, 2016
Jan 19, 2016
Jan 15, 2016
 
 
 
Jan 15, 2016
The chief executive of world No 1 copper producer Codelco said on Thursday that the Chilean state-owned miner will implement new cost-cutting measures to save $574-million in 2016 as the sector reels from a steep slump in metals prices. Pizarro said Codelco was...
Jan 15, 2016
Chile's government will have to adjust its forecasts for the economy as prices for top export copper have slumped to 6-1/2 year lows, Finance Minister Rodrigo Valdes said on Thursday. Copper prices weakened on Thursday on concerns a drop in the oil price foreshadowed...
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...
Oct 23, 2015
Almost one year after the Nigerian Automotive Council and WesBank signed a memorandum of understanding (MoU) for the South African group to enter the Nigerian market, WesBank is yet to finance a vehicle purchase. WesBank had an “optimistic objective” to write its...
Oct 20, 2015
Justin Trudeau, Canada's prime minister-elect and leader of the Liberal Party of Canada.
Canada’s resource lobby groups have welcomed Canada’s new Prime Minister-elect Justin Trudeau, saying they are optimistic about collaborating with the new Liberal government to further advance resource policy reforms to the benefit of the Canadian economy. The...
Oct 16, 2015
Nigerian President Muhammadu Buhari has indicated that the country’s 2016 Budget will prioritise actions designed to diversify economy away from its current dependence on oil and gas. Nigeria is Africa’s biggest economy and oil producer, but government has has been...
Oct 09, 2015
The market capitalisation of Western Australia- (WA-) listed companies closed the month of September at A$118.5-billion, indicating a 6.4% month-on-month drop and pointing to continued pressure on the industry from falling commodity prices and continued global equity...
 
 
 
 
Oct 09, 2015
The recent Chinese economic slowdown has had a negative effect on local exports, and South Africa’s fate is similar to the fate of other sub-Saharan African resource-dependent economies, sub-government entity credit loan and investment company Export Credit Insurance...
Oct 05, 2015
Chris de Kock
Almost one year after the Nigerian Automotive Council and WesBank signed a memorandum of understanding (MoU) for the South African group to enter the Nigerian market, WesBank is yet to finance a vehicle purchase. WesBank had an “optimistic objective” to write its...
Sep 23, 2015
Quadrant Energy Australia will pay ASX-listed Buru Energy and its joint venture (JV) partner Mitsubishi Corporation A$10-million after withdrawing from the Coastal titles farm-in agreement. In 2013, Quadrant, previously known as Apache Energy, inked a JV agreement...
Sep 14, 2015
The entry of two “aggressive” competitors in the second half of the 2015 financial year has dragged on aviation group Comair’s second-half earnings, reversing the revenue growth experienced in the first half of the year, as the airline returned savings on the price...
Sep 11, 2015
Container shipping company Safmarine, a member of the Maersk group, has seen growth in global container trade slow to 1.1% for the first half of the year, compared with the same period last year, says new CEO David Williams. Williams, a South African, was previously...
Sep 08, 2015
Australian oil and gas major Woodside on Tuesday confirmed that it had launched a confidential and nonbinding merger offer for fellow-listed Oil Search. Woodside said it would offer 0.25 of its own shares for every one Oil Search share held, allowing Oil Search...
Aug 28, 2015
All grades of petrol will cost 69c a litre less from next Wednesday, the Department of Energy announced on Friday. This comes after last month's 51c decrease, adding more relief to motorists.
Aug 28, 2015
HIGH VOLUME AAT Composites uses press claves and autoclaves to manufacture sophisticated composite parts, with a moulding capacity of more than 10 000 items a month
Western Cape-based aircraft and automotive composites products manufacturer AAT Composites has invested in new machining and manufacturing technology, valued at about R20-million, to increase its competitiveness in the global aerospace industry. AAT Composites’ key...
Aug 26, 2015
The development of shale and tight gas resources in the Northern Territory could add a combined A$22.4-billion to the state’s economy over 20 years and create an additional 6 300 jobs by 2040, a new report has revealed. The report, compiled by advisory firm Deloitte...
Aug 24, 2015
The world markets meltdown which continued on Monday spilled over to the JSE, dragging the All Share-index below 48 000 points. On Friday, the All Share closed below 50 000 points for the first time since the beginning of the year. On Monday, all the major indices on...
 
 
 
 
Aug 24, 2015
Container shipping company Safmarine, a member of the Maersk group, has seen growth in global container trade slow to 1.1% for the first half of the year, compared with the same period last year, says new CEO David Williams. Williams, a South African, was previously...
Aug 21, 2015
Australian oil and gas major Santos has reported an 82% fall in net profits after tax to A$37-million for the half-year ended June, as oil prices tumbled and exploration expenses soared. Profit was down from A$206-million in the previous corresponding period.
Aug 21, 2015
Nissan South Africa (SA) will make an announcement on the production of new models at its Rosslyn plant, near Pretoria, by the end of the year, says Nissan SA MD Mike Whitfield. He expects the announcement “to be positive”.
Aug 20, 2015
The share price of ASX-listed Origin Energy tumbled nearly 13% on Thursday as the company swung to a loss for the 2015 financial year and reported that it would slash some 800 jobs by 2017. Origin on Thursday reported a statutory loss of A$658-million for the...
Aug 05, 2015
A negative oil and gas market outlook has forced US diversified miner Freeport-McMoRan (FCX) to pare the capital budget for its exploration and production arm and to defer investments in several long-term projects. The Phoenix, Arizona-based firm would also curtail...
 
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