R/€ = 16.85 Change: -0.02
R/$ = 14.30 Change: -0.02
Au 1207.60 $/oz Change: 4.95
Pt 835.50 $/oz Change: 11.25


Tribunal approves OTS’s acquisition of controlling share of Chevron South Africa

By: Simone Liedtke     13th September 2018 The Competition Tribunal on Thursday approved, with conditions, the proposed merger between Off The Shelf Investments 56 (OTS) and Chevron South Africa (CSA). The approval follows after the tribunal heard the second bid to acquire the controlling 75% stake in CSA and after receiving a minor... 

China sells diesel to South Africa as refiners seek new export markets

By: Reuters     20th August 2018 State-run oil company Sinopec is selling diesel as far afield as South Africa as China's refiners seek homes for their surplus fuel in the latest sign of troubles in the domestic refining business. Sinopec said on Monday it shipped its first 30 000 t of diesel from its Shanghai refinery heading... 

BP signs up for PNG LNG

By: Esmarie Swanepoel     17th August 2018 The joint venture partners of the Papua New Guinea liquefied natural gas (PNG LNG) project have entered into a mid-term LNG sales and purchase agreement with BP Singapore. Under the terms of the agreement, BP will be supplied with around 0.45-million tonnes of LNG a year over an initial... 

Commission granted 15-day extension in proposed OTS, Chevron South Africa merger

By: Creamer Media Reporter      2nd August 2018 The Competition Tribunal has granted the Competition Commission a 15 working day extension to consult interested parties to a proposed merger between Off the Shelf 56 (OTS) and Chevron South Africa (CSA). OTS, which already owns 25% of CSA, is seeking to acquire the remaining 75% interest in CSA... 

PNG LNG signs mid-term offtake

By: Esmarie Swanepoel     20th July 2018 The Papua New Guinea liquefied natural gas (PNGG LNG) project partners have entered into a mid-term LNG sale and purchase agreement with Hong Kong-based PetroChina International Corporation. Under the agreement, the PNG LNG project will supply some 0.45-million tonnes of LNG a year over a... 

R11.6bn in fines and merger conditions secured since 2010, Patel reports

By: Terence Creamer     10th May 2018 Economic Development Minister Ebrahim Patel reports that R11.6-billion has been mobilised as a result of cartel settlements and conditions placed on firms that have pursued mergers and acquisitions in South Africa since 2010, with commitments worth a further R11-bilion have been secured in... 

Tribunal approves Sinopec’s $900m acquisition of Chevron SA with conditions

By: Nadine James     9th March 2018 The Competition Tribunal has approved Hong Kong-based Sinopec’s proposed $900-million acquisition of a 75% interest in Chevron South Africa (CSA), subject to a range of employment, investment and other public interest conditions. Sinopec and CSA had tendered a set of proposed conditions, which... 

South Sudan accuses oil group of pollution, threatens shutdown

By: Reuters     1st March 2018 South Sudanese lawmakers have accused the consortium running the country's last working oilfields of dumping expired chemicals in the bush, and have threatened to shut down production unless it stops. Members of parliament's energy committee told the assembly they had seen containers holding old... 

Tribunal to consider Sinopec's $900m deal to acquire 75% of Chevron South Africa

By: Simone Liedtke     7th February 2018 The Competition Tribunal will, on Thursday, consider the proposed $900-million buyout by China Petroleum and Chemical Corporation (Sinopec) subsidiary SOIHL HK of a 75% interest in Chevron South Africa (CSA). Sinopec is a significant Chinese manufacturer and supplier of petroleum and... 

Survey Says: More Oil Producers Moving Toward a Risk-based Approach for Asset Life Extension

12th December 2017 Producers have discovered that a risk-based inspection approach can cut costs if it’s implemented properly, says an OGIQ survey. Now, it’s a matter of increasing the adoption rate. By Anne-Marie Walters 

Glencore to acquire Chevron’s South Africa, Botswana assets for $973m

By: Anine Kilian     6th October 2017 JSE-listed Glencore has entered into an agreement with Off The Shelf Investments Fifty Six (OTS) to acquire a 75% interest in Chevron South Africa, as well as a 100% interest in Chevron Botswana, for an aggregate consideration of $973-million. The assets comprise the interests of the Chevron... 

China's fossil-fuel phase-out fails to alarm big oil investors

By: Bloomberg     11th September 2017 In the first day of trading after China said it’s working on a deadline to end sales of fossil-fuel-powered vehicles, shares are holding ground in the oil companies that stand to lose out. The listed units of China’s big three oil companies – PetroChina, Cnooc and China Petroleum & Chemical –... 

APLNG passes lender's test

By: Esmarie Swanepoel     24th August 2017 The remaining $3.4-billion shareholder guarantees over the Australia Pacific liquefied natural gas (APLGN) project’s $8.5-billion project finance has been released after the project met all of the lender’s completion tests, ASX-listed Origin Energy reported. In 2012, APLNG secured the project... 

TransCanada to push ahead with C$1.4bn North Montney gas pipeline earlier than expected

By: Henry Lazenby     21st March 2017 Pipeline operator TransCanada has filed a variance application with the National Energy Board to proceed with construction of the North Montney Mainline Project (NMMP) ahead of schedule. The Calgary, Alberta-based oil and gas transporter has already been granted the required federal and... 

Australia Pacific LNG starts exports to Kansai Electric

By: Creamer Media Reporter      30th June 2016 The Australia Pacific Liquefied Natural Gas (APLNG) project has started exports to Kansai Electric, in Japan, with the first shipment having left Curtis Island on Wednesday. Under an agreement signed in 2012, Kansai Electric would receive about one-million tonnes a year of LNG for over 20 years... 

APLNG pushes Origin production

By: Esmarie Swanepoel     29th April 2016 With the start of shipments from the Australia Pacific liquefied natural gas (APLNG) project in January, producer Origin Energy on Friday reported a 12% increase in production for the three months to March, compared with the previous quarter. Origin reported production of 60.9 PJe during the... 

First LNG cargo departs from APLNG

By: Esmarie Swanepoel     11th January 2016 The $24.7-billion Australia Pacific liquefied natural gas (APLNG) project, offshore Queensland, has shipped its first LNG product. The Methane Spirit departed Curtis Island, bound for customers in Asia, on the weekend. 

First gas from APLNG reaches Curtis Island

By: Esmarie Swanepoel     11th February 2015 First gas from the Australia Pacific liquefied natural gas (APLNG) project in the Surat basin has reached the Curtis Island LNG facility, in Queensland, operator Origin Energy reported on Wednesday. The arrival of the first gas to the LNG facility marked the completion of commissioning of the... 

APLNG still on track for mid-2015 production

By: Esmarie Swanepoel     30th October 2014 The $24.7-billion Australia Pacific liquefied natural gas (APLNG) was on track to produce its first LNG by mid-2015, project developer Origin Energy’s LNG CEO, David Baldwin, said on Thursday. Full production from both trains were expected by the end of 2016. 

SA stainless steel industry holding steady, imports a problem – Sassda

By: Ilan Solomons     25th October 2013 The South African stainless steel industry is experiencing steady growth, but government needs to ensure that the playing field for importers and local industry players is level, Southern African Stainless Steel Development Association (Sassda) executive director Bill Scurr tells Engineering... 

CEF chief confirms PetroSA is moving on ‘downstream entry’ 

By: Terence Creamer     27th September 2013 Central Energy Fund (CEF) CEO Sizwe Mncwango – who is also acting as interim chairperson of CEF’s wholly owned subsidiary, PetroSA – has confirmed that the national oil company is prioritising a ‘downstream entry’ and that its timeframe for meeting that objective is 2014 or 2015. However, some... 

PetroSA, Sasol join forces to explore West Coast

By: Natasha Odendaal     10th June 2013 National oil company PetroSA and energy and chemicals group Sasol were set to explore a block on the West Coast of South Africa after teaming up for the first time in a decade. A technical cooperation permit (TCP) agreement between the parties will enable the exploration of Block 3A/4A – a 19 066... 

Project Mthombo, Coega industrial development zone, South Africa

By: Sheila Barradas     29th March 2013 A full feasibility study into the proposed Project Mthombo refinery will be launched was launched on March 26. 

PetroSA, Sinopec to move ahead with Project Mthombo study

By: Terence Creamer     26th March 2013 A full feasibility study into the proposed Project Mthombo crude oil refinery, in the Eastern Cape, will be launched following the signing of a two-year framework agreement (FA) between South Africa’s national oil company PetroSA and China’s petroleum and petrochemicals group Sinopec. South... 

Project Mthombo, South Africa

By: Sheila Barradas     22nd February 2013 Feasibility studies on the project are expected to be concluded by the end of 2013 

Company Announcement: Sinopec and Airbus to develop Chinese alternative aviation fuel

25th September 2012 Partners support Chinese sustainable alternative fuel standard and supply 

Final investment approval for A$23bn APLNG project

By: Esmarie Swanepoel     4th July 2012 The joint venture partners of the Australia Pacific liquefied natural gas (APLNG) project have pulled the trigger on the second train of the A$23-billion investment. The two-train project, in Queensland, would have a nine-million-ton-a-year capacity and was scheduled to deliver first LNG from... 

APLNG secures $8.5bn in finance

By: Esmarie Swanepoel     24th May 2012 ASX-listed Origin Energy and its joint venture (JV) partners ConocoPhillips and Sinopec have secured an $8.5-billion project financing facility for the Australia Pacific liquefied natural gas (APLNG) project. The project finance facility was signed by the Export-Import Bank of the US, the... 

PetroSA teams up with China’s Sinopec on Mthombo 

By: Natasha Odendaal     21st May 2012 National oil company PetroSA and China Petroleum Corporation (Sinopec) on Monday sealed a joint study agreement (JSA) for Project Mthombo – a new refinery at the Coega industrial development zone. The agreement, which would shape the business case for the crude oil refinery, followed the signing... 

State capitalism: Is it a rival to market capitalism?  

By: Keith Campbell     30th March 2012 Since the start of the current global economic crisis in 2008, there has been renewed interest in the concept of ‘State capitalism’, as distinct from ‘market capitalism’. (The term ‘liberal capitalism’ is shorthand for ‘liberal democracy plus market capitalism’.) This interest is centred on... 


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