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Topic - Oil Price
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Apr 21, 2015
Updated 5 hours ago Singapore-listed Linc Energy has reported A$24.7-million in savings for its 2015 financial year, compared with the 2014 financial year, through a restructure of its organisation and reporting lines. The decline in the oil price has prompted Linc to undertake a range...
Apr 15, 2015
Infrastructure spend by Africa’s largest oil producing countries, Nigeria and Angola, will be hard-hit by the retreating global oil price, which has more than halved since June last year and is currently at $58/bl, it emerged on Tuesday. “Angola and Nigeria are not...
Apr 03, 2015
By Alan Morgan Africa is more democratised and decentralised than ever before. There is a new wave of companies that have started to explore new ways of communicating and interacting with local people. What might others learn from this? Late last month, in London, a...
Apr 01, 2015
The value of copper stolen in February decreased to R12.7-million, from R12.9-million in January, but was 18.1% higher than the value of copper stolen in February 2014, the South African Chamber of Commerce and Industry (Sacci) revealed on Wednesday. In its latest...
Mar 27, 2015
JSE-listed packaging company Mpact’s basic underlying earnings a share, for the year ended December 31, increased by 15.3% to 269.2c, while revenue increased by 11.9% year-on-year to R8.6-billion, owing to a drop in the oil price, capital expenditure investments and...
Mar 20, 2015
The fifth Petro.t.ex exhibition and conference, which is supported by the 20 petroleum corporations that are members of the South African Petroleum Industry Association (Sapia), will take place at Gallagher Convention Centre, in Midrand, from May 20 to 22, as part of...
Mar 20, 2015
OIL DEPENDENT With oil serving as the marginal production cost and price-setter for many chemicals, a decline in the oil price typically leads to lower product prices
The recent decline in global oil prices is not only prompting supply chains to destock their petrochemical inventories but is also sowing the seeds for better economic conditions, lower petrochemical prices and improved global petrochemical demand, says information...
Mar 20, 2015
GUY LUNDY Industry needs to work more closely with research institutions and universities to encourage and support local research and development
International executive search firm Odgers Berndtson describes the current state of the South African chemicals and petrochemicals industry as stagnant, if not diminishing, says energy, consumer and technology specialist for sub-Saharan Africa Guy Lundy, a partner in...
Mar 18, 2015
Mar 18, 2015
Mar 17, 2015
Mar 16, 2015
 
 
 
Mar 12, 2015
As one of the leading contributors to the economy of Namibia, ship repair company Elgin Brown & Hamer Namibia, is fully cognisant of the impact that the sustained low oil price could have - not only on the downstream oil and gas sector in which it operates - but on...
Mar 11, 2015
While delivering record gas and petroleum production in 2015, Australia’s energy sector was facing a challenging 2015 with a lower oil price environment and uncertainty over gas pricing on the east coast, market analyst EnergyQuest reported this week. EnergyQuest...
Mar 06, 2015
SPEND SHIFT The fuel price reduction could cause an increase in consumer's disposable income, enabling them to spend more on food and beverages
While there has traditionally been a positive correlation between the global oil price and the global food price over the past decade, the sharp drop in the oil price since mid-2014 will not necessarily lead to a significant drop in the overall basket price of food...
Mar 04, 2015
More than half CEOs surveyed as part of the latest Merchantec CEO Confidence Index, said load-shedding was negatively impacting businesses, as it lowered productivity and raised costs. The index, released on Wednesday, showed that 76.2% of CEOs felt that...
Mar 04, 2015
To enhance operational efficiencies, in the midst of challenging market conditions and to ensure its survival and sustainability, South Africa’s national oil company (NOC) PetroSA will reorganise its business. The NOC said on Wednesday that, as a result of ongoing...
Mar 04, 2015
JSE-listed packaging company Mpact’s basic underlying earnings a share for the year ended December 31, increased by 15.3% to 269.2c, while revenue increased by 11.9% year-on-year to R8.6-billion, owing to a drop in the oil price, capital expenditure investments and...
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 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
Barrick Gold's Punta Colorada wind farm, Chile.
The complexities and challenges of running a mine are immense, but the end result is simple; either it makes or loses money. In the current downturn, the difference between success and failure can be a fine line. Central to the issue of margins is the cost of power...
Feb 11, 2015
Investors in the mining industry say oversupply has weighed heavily on prices in the iron-ore and coal sectors, while the fall in the oil price is expected to bring relief to several mining projects across Africa. “With oversupply, the market is not in sync in...
Feb 10, 2015
Twenty petroleum corporations comprise membership of the South African Petroleum Industry Association (SAPIA) which will ‘fuel’ the impetus of this year’s Petro.t.ex Africa event. Petro.t.ex, a major mid- and down-stream Exhibition and Conference aimed at the African...
Feb 10, 2015
South Africa’s electricity shortages are likely to lop a full percentage point off the country’s 2015 gross domestic product (GDP) growth. But Standard Bank chief economist Goolam Ballim expects lower fuel prices will help stimulate household spending during the...
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...
 
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