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Topic - Oil Price
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Feb 26, 2015
Clough CEO Kevin Gallagher
Engineering and construction group Murray & Roberts (M&R) has signalled its intention to accelerate the internationalisation of its Australia-based oil and gas unit, Clough – a strategy underpinned by a dramatic tapering off of greenfield liquefied natural gas (LNG)...
Feb 23, 2015
Chilean copper producers Antofagasta cut its production cost forecast for 2015 by 6.6% on Monday due to lower oil prices and a weaker Chilean peso against the US dollar. The mining company said it expects its net cash cost for 2015 to be $1.40/lb of copper, about 10...
Feb 20, 2015
BREAKING RECORDS South African vehicle sales broke all records for the month of December in 2014, with 51 462 vehicles sold
South African vehicle sales broke all records for the month of December in 2014, with 51 462 vehicles sold. Previously, the highest sales record for the month of December was in 2006, when 49 283 vehicles were sold, says advisory firm KPMG industrial, automotive and...
Feb 17, 2015
A preliminary report by the World Wide Fund for Nature-South Africa (WWF-SA) has described shale gas as a marginal resource that remains reliant on a high gas or oil price and reasonable tax incentives, and may not provide as “cheap” a source of domestic energy as...
Feb 17, 2015
Oil and gas explorers have to rethink their capital expenditure (capex) budgets on exploration activity across the African continent in the wake of the significant drop in the global oil price, advisory firm PwC said on Tuesday. “Oil and gas explorers will be...
Feb 16, 2015
SAA acting CEO Nico Bezuidenhout
South African Airways (SAA) confirmed on Monday that some R600-million in yearly savings would arise as a direct result of a decision to cull lossmaking services to Beijing, China, and Mumbai, India, as from the end of March. The cessation of the long-haul routes,...
Feb 13, 2015
There is no question that consumers are enjoying a nice little windfall as a result of the dramatic fall in the oil price. But translating this short-term gain into sustainable benefits for households and the economy is easier said that done.
Feb 13, 2015
The establishment of a customs control area (CCA), or free port, within the newly designated Saldanha Bay Industrial Development Zone (SBIDZ) is being held up as a major drawcard for potential oil and gas services investors into the 330 ha site, situated alongside...
Feb 11, 2015
Feb 11, 2015
Feb 10, 2015
Feb 10, 2015
 
 
 
Feb 06, 2015
European aerospace company Airbus Helicopters, part of the Airbus group and one of the world’s biggest manufacturers of rotary-wing aircraft, is considering involving its South African subisidiary, Airbus Helicopters Southern Africa (AHZA), in supporting its oil and...
Feb 06, 2015
Sasol insists that it has “stress tested” the $8.9-billion ethane cracker and derivatives complex against several parameters and that the project’s economics remain “robust, even under extreme scenarios”.
Feb 03, 2015
South African energy and chemicals group Sasol insists that it has “stress tested” the $8.9-billion ethane cracker and derivatives complex it is currently building in the US against a number of parameters and that the project’s economics remain “robust, even under...
Jan 30, 2015
EXPLORATION Much research is being conducted in South Africa to establish a gas policy, including a Gas Utilisation Master Plan
The South African gas sector is likely to see an increase in mergers and acquisitions among gas producers in 2015, especially during the early part of the year, as the industry adjusts to deal with the effects of the dropping oil price, says North-West University...
Jan 30, 2015
Aside from the horrific terror attacks in Nigeria and France, the precipitous fall in the oil price has been the main news story of 2015 so far. The weakening has not only been steep, it’s been fast, with the rapidness of the change illustrated neatly in an article...
Jan 30, 2015
CHANGE IS IMMINENT The Minerals and Petroleum Resources Development Act amendments will have a significant effect on South Africa’s oil and gas industry
South Africa is regarded as having significant potential as a bankable oil and gas investment destination, with leading hydrocarbon majors and independents, including oil giants Exxon Mobil, Shell, Eni, Total, Anadarko and Chevron, already in the country,” says...
Jan 29, 2015
While South African consumers will get a reprieve on the back of a lower oil price, all the potential benefits could be overshadowed by the nation’s ongoing electricity shortages. A surprise cut to below $50/bl for crude oil would soften the blow of rising costs on...
Jan 27, 2015
Port of Saldanha
The establishment of a customs control area (CCA), or free port, within the newly designated Saldanha Bay Industrial Development Zone (SBIDZ) is being held up as a major drawcard for potential oil and gas services investors into the 330 ha site, situated alongside...
Jan 26, 2015
The end months of 2014 were grim ones for major oil-producing states everywhere, especially those in the Middle East. As the region continued grappling with the aftershocks of the Arab Spring and the threat of the Islamic State, they also watched the price of oil...
Jan 23, 2015
The jury is still out on what effect the collapsing oil price will have on Africa’s 2015 growth prospects, with the answer depending materially on whether a country is an oil importer or exporter. However, the World Bank’s latest Global Economic Prospects (GEP)...
 
 
 
 
Jan 21, 2015
Philippe Mellier
The low oil price is expected to benefit the diamond business, De Beers CEO Philippe Mellier has told sightholders. At a reception in Botswana to mark the first 12 months of sightholder sales in Gaborone, Mellier outlined how the downwardly trending oil price could...
Jan 20, 2015
Iron-ore miner Atlas Iron reported on Tuesday that its cost-cutting measures were continuing to deliver results, with the company reducing its all-in cash costs from A$69/t to A$66/t during the three months to December. Atlas previously announced plans to cut...
Jan 14, 2015
Companies focused on Canada’s oil patch in Alberta are facing tough times ahead should the cratering oil price remain below forecasts for a prolonged time. The latest firm to prune back investment spending in its 2015 budget was Canada’s largest oil and gas company...
Dec 15, 2014
Energy analyst EnergyQuest has warned state governments from investing in the proposed gas pipeline which would connect the Northern Territory to markets on the east coast of Australia, saying that it would hinder private investment. In November this year, the...
Dec 10, 2014
Oil-exporting countries heavily reliant on oil revenues and committed to large spending programmes were most likely to have difficulty accommodating low oil prices, Moody's Investors Service said on Wednesday. In its report ‘Global oil price volatility: Oil-exporting...
Oct 24, 2014
In early October, Brent crude oil was trading as low as $92/bl – a marked drop from the $115/bl it reached in mid-June and the $105/lb to $112/bl range it has held for most of the past three years. In the midst of some serious geopolitical threats to oil supplies in...
Aug 22, 2014
Current expectations in the automotive industry are for the domestic new vehicle market to decline to around 619 000 units in 2014, down from the 651 745 units sold in 2013, says Absa vehicle and asset finance head Wessel Steffens. “Interest-rate sensitive sectors in...
Aug 12, 2014
Current expectations in the automotive industry are for the domestic new vehicle market to decline to around 619 000 units in 2014, down from the 651 745 units sold in 2013, says Absa vehicle and asset finance head Wessel Steffens. “Interest-rate sensitive sectors in...
Nov 26, 2013
The developer of the Ibhubesi gas project off South Africa’s West Coast expects to conclude a sales memorandum of understanding (MoU) with power utility Eskom before the end of the year – a move that could open the way for a future supply agreement that facilitates...
Oct 14, 2013
Much of Big Energy is guilty of an enculturated risk blindness that, unless action is taken, will lead to an inevitable global crash according to Jeremy Leggett.  As the World Energy Congress opens in South Korea, the man described as "Britain's most respected green...
 
 
 
 
Jun 03, 2013
The price of fuel and a fragile world economy have impacted heavily on the global airline industry over the past year, with marginal improvement expected for the year ahead. Last year, the airline industry generated $7.6-billion in net post-tax profits on revenues of...
Apr 15, 2013
Gulf Arab Organisation of the Petroleum Exporting Countries (Opec) oil producers do not see the need to change production levels to support crude prices, OPEC delegates said after benchmark Brent touched nine-month lows on Friday. A sell-off in commodities saw Brent...
Apr 10, 2013
ASX-listed Beach Energy has signed an agreement to supply fellow-listed Origin Energy with some 139 PJ of gas from the Cooper basin for a term of eight years. Under the terms of the agreement, Origin had an option to extend the duration of the supply agreement by...
Mar 22, 2013
I develop business strategies for companies. It is really important to have some sort of strategy in place. There is universal agreement on that point.
Feb 28, 2013
The weaker rand and the high price of oil played a role in the increasing of fuel prices, Finance Minister Pravin Gordhan said on Thursday. "Oil is extraordinarily high," he said at a televised New Age breakfast briefing.
Oct 26, 2012
While JSE-listed energy and chemicals group Sasol is a significant competitor in the global market – owing to its established international operations – the petrochemicals giant’s impact on local suppliers, developing markets and new technologies cannot be...
Oct 19, 2012
The South African new vehicle market can grow by another 5% next year, adding to the expected 10% to be recorded in 2012, says National Automobile Dealers Association chairperson Derik Scorer. “The new car industry looks good.” He notes that a surging oil price and...
Sep 27, 2012
The South African new vehicle market could grow by another 5% next year, adding to the expected 10% to be recorded in 2012, said National Automobile Dealers Association chairperson Derik Scorer. “The new car industry looks good.” Speaking at a breakfast forum in...
Sep 21, 2012
South African energy and chemicals producer Sasol is gearing up for a $20-billion, multiproject investment into North America over the coming years, which could result in the development of a $14-billion Secunda-type complex in the southern US state of Louisiana. CEO...
Sep 10, 2012
South African energy and chemicals producer Sasol is gearing up for a $20-billion, multiproject investment into North America over the coming years, which could result in the development of a $14-billion Secunda-type complex in the southern US state of Louisiana....
 
 
 
 
Jun 27, 2012
Recent sharp falls in commodity prices are “disproportionately” large when compared with prevailing weaknesses in the global economy and a number of prices are, thus, likely to recover during the second half of 2012, Absa Capital economist Jeff Gable argues. Having...
Jun 11, 2012
Despite the many challenges facing civil aviation, including declining profits since a peak of $15.8-billion in 2010, the International Association of Air Transport (Iata) is upbeat on the industry, predicting a doubling in passenger numbers to 5.9-billion in 2030,...
May 02, 2012
South Africa’s seasonally adjusted Purchasing Managers Index (PMI) declined for a second month in April to 54.7 points, but still reflected robust demand for factory goods, sponsor Kagiso Asset Management said on Wednesday. The Kagiso PMI declined by 1.4 index...
Apr 13, 2012
In March, the price of petrol in Gauteng breached R11/l, breaking the previous record-high nominal price of R10.50/l set in July 2008. At R10.37, the wholesale price of diesel is still below the high of R11.43/l recorded four years ago.
Mar 20, 2012
African carriers were expected to post a collective loss of $100-million this year, as airlines struggled to make full use of available capacity, while the oil price continued to rise, the International Air Transport Association (Iata) warned on Tuesday Iata...
 
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