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Private equity in Africa loses its shine

By: Reuters     16th September 2016 Major private equity firms have seen a number of top management departures in Africa, individuals familiar with the matter said, as the funds grapple with investments hurt by a weak economy. US firm Carlyle, Standard Chartered and emerging market-focused Actis have all seen a change of top... 

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... 

Rio versus BHP boils down to investors' choice of commodity

By: Reuters     7th September 2016 The backgrounds of the leaders of the world's top mining companies illustrate the choice facing investors, with BHP Billiton's chief executive having worked in the oil industry and Rio Tinto's new boss more focused on copper. After aggressive cost-cutting and asset sales to drive down debt, the... 

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... 

Drought, low oil price weighing down ethanol industry

By: Simon Sonnekus     25th March 2016 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 Africa chairperson Peter... 

New Hope Coal returns to profit despite lower output, weak prices 

By: Esmarie Swanepoel     22nd March 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, compared with a net loss of... 

Electric vehicles forecast to comprise 35% of new light-duty car sales by 2040

By: Irma Venter     18th March 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 more economic option than... 

Africa M&A remains buoyant, says Standard Bank

By: Anine Kilian     11th March 2016 Africa’s mergers and acquisitions (M&A) landscape remains buoyant, says Standard Bank, which expects to see more opportunities than ever before in 2016.   The bank noted this week that global M&A activity had been very high in 2015, almost eclipsing the previous record levels set in 2007. The... 

Australia needs more diverse gas supply sources – competition watchdog

By: Esmarie Swanepoel     9th March 2016 The Australian Competition and Consumer Commission (ACCC) has called for the development of more gas resources to combat high gas prices on the Australian east coast. Speaking at a conference in Sydney, ACCC chairperson Rod Sims said that there was an urgent need for new and more diverse sources... 

Sasol outlines dual Southern Africa, North America growth plans 

By: Martin Creamer     8th March 2016 Despite the lower-for-much-longer oil price outlook, integrated chemicals and energy company Sasol is remaining focused on executing growth projects in Southern Africa and North America as part of a dual regional strategy. In presenting 63%-lower earnings attributable to shareholders in the six... 

Hedging policies important for business

By: Anine Kilian     3rd March 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 manager Eric Freemantle said... 

Electric cars to comprise 35% of new-vehicle sales by 2040, says study

By: Irma Venter     26th February 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 more economic option than... 

I’m all for a new oil refinery in South Africa

By: Kelvin Kemm     26th February 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. 

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