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Energy News

Ncondezi receives shareholder loan conversion notice

By: Simone Liedtke     Updated 2 hours 7 minutes ago Aim-listed Ncondezi Energy has received a shareholder loan conversion notice for 764 165 shares from lenders to be converted at a conversion price of 10p a share. Admission of these shares on Aim is expected to take place on April 26. 

Nigeria has no intention of cutting fuel subsidy at this time

By: Reuters     Updated 2 hours 53 minutes ago Nigeria has no intention of removing subsidies on petroleum products, its finance minister said on Wednesday after the International Monetary Fund (IMF) advised the country to eliminate them to protect public finances. Africa's top oil producer and biggest economy heavily subsidises gasoline and... 

Nigeria court orders arrests over Shell, Eni Malabu oil deal

By: Bloomberg     Updated 3 hours ago A court in Nigeria ordered the arrest of two former ministers and others allegedly connected with illegal payments leading to the 2011 acquisition of what is considered one of the biggest oil fields in the West African country. Former Justice Minister and Attorney General Mohammed Adoke, ex-Oil... 

Kibo appoints Wimmer as adviser for African project financing

By: Tasneem Bulbulia     17th April 2019 Kibo Energy has signed a corporate finance engagement letter with Wimmer Financial, which will advise Kibo on and manage all aspects related to the structuring and provision of a project finance corporate credit line facility of up to $900-million which could form part of a broader funding... 

Fuel price cap still being investigated, energy department says 

By: News24Wire      17th April 2019 The Department of Energy is still researching the feasibility of implementing a fuel price cap, and the outcome will be announced in due course, a spokesperson said on Wednesday. The possibility of a hard price ceiling on 93 unleaded fuel was mooted by Energy Minister Jeff Radebe in mid-October... 

Fuel price cap still being investigated, energy department says

Sapref’s new R50m reactor to enable better low-sulphur diesel production

By: Nadine James     17th April 2019 The South African Petroleum Refinery’s (Sapref’s) new R50-million reactor arrived at the Durban port earlier this week. The 242 t, 31-m-long reactor will enable Sapref, which is a joint venture between Shell Refining South Africa and BP Southern Africa, to produce “better, low-sulphur diesel”,... 

Sapref’s new R50m reactor to enable better low-sulphur diesel production
UMKHOMA REACTOR

RBR welcomes Chevron’s reported plan for Mozambique LNG project

By: Tasneem Bulbulia     15th April 2019 RBR Group expects to benefit from Chevron Corporation’s plans to proceed with the proposed Area 1 liquefied natural gas (LNG) project, in Mozambique. It was announced last week that Chevron would acquire Anadarko Petroleum Corporation, which is the operator of the Area 1 LNG project, for... 

Activists push South African pension funds to tally climate costs  

By: Bloomberg     15th April 2019 Pension funds in South Africa have a legal obligation to account for the financial effects of climate change on their investments, according to two groups lobbying money managers to pay closer attention to the issue. Shareholder activists Just Share and environmental law organisation ClientEarth... 

Brulpadda field unlikely to support a globally competitive chemicals industry, more exploration needed – experts

By: Marleny Arnoldi     12th April 2019 Energy veterans Stephen Clark and Wikus van Niekerk, with Jim Petrie and Dave Wright, have unpacked finer details of Total’s Brulpadda gasfield discovery, estimating its likely size, potential development and broader impact on South Africa’s hydrocarbon fuel security. Total entered into the... 

Brulpadda field unlikely to support a globally competitive chemicals industry, more exploration needed – experts
Brulpadda drilling rig

Mantashe urges continued investment in clean coal tech  

By: Tasneem Bulbulia     12th April 2019 Mineral Resources Minister Gwede Mantashe on Friday commended Sasol for the “good work” it was doing and the opening of its new Impumelelo Colliery. He said it was notable that the opening of the mine came at a time when coal is under siege and that it should counter the narrative that coal is... 

Mantashe urges continued investment in clean coal tech
Sasol executive director and joint president and CEO Stephen Cornell provides details of the new Impumelelo colliery. Video and editing: Nicholas Boyd.

Seplat, NNPC to raise $700m for gas plant due in 2020

By: Bloomberg     12th April 2019 Seplat Petroleum Development and Nigeria’s State oil company will raise $700-million for a joint gas project scheduled to start production next year as the government steps up plans to reduce the country’s reliance on oil. The project, known as Assa North-Ohaji South, is one of seven to boost gas... 

Chevron to acquire Anadarko for $33bn in stock, cash

By: Bloomberg     12th April 2019 Chevron Corp will acquire Anadarko Petroleum Corp for $65 a share, the company said in a statement. Anadarko shareholders will receive 0.3869 shares of Chevron and $16.25 in cash for each Anadarko share. Chevron will issue 200-million shares and pay $8-billion in cash. The company will also... 

Electrical heat tracing viable safety precaution

12th April 2019 With the maintenance at particular temperatures during transportation of various products – such as containers and tanks carrying oil and bitumen acids – having become a critical part of realising quality and insurance guarantees, electrical heat tracing (EHT) has emerged as a vital component for... 

Electrical heat tracing viable safety precaution
SAFETY FIRST The EHT cabling generates heat over the surface of the container, which in turn heats up the product inside the container

IEA says oil market tightening, but global demand may falter

By: Bloomberg     11th April 2019 Global oil markets are tightening as Opec supply falls, the International Energy Agency said, while warning it could lower demand forecasts because of economic threats. Crude inventories are set to decline for the rest of the year as Saudi Arabia and its partners curb production, while exports... 

Sasol names Sipho Nkosi as next chairperson

By: Bloomberg     11th April 2019 Sasol appointed Sipho Nkosi to its board and said the former coal-industry executive will become chairperson in November when Dr Mandla Gantsho steps down. The change of leadership comes during a vital year for Sasol, as the South African fuel and chemical manufacturer nears completion on its... 

Sasol names Sipho Nkosi as next chairperson
Photo by Creamer Media
Sipho Nkosi

Oil holds near five-month high

By: Bloomberg     9th April 2019 Oil in New York held near the highest level since late October as an escalation of geopolitical tensions in Libya and Iran fanned concerns over supplies. West Texas Intermediate futures were little changed, after gaining 3.7% over the previous two sessions. Libya’s eastern-based warlord Khalifa... 

Cost of decarbonising global energy system falls sharply, new report shows 

By: Terence Creamer     9th April 2019 Rapidly falling renewable-energy costs, together with emerging opportunities to electrify other energy end-uses such as transportation and heating, are continuing to reduce the investment premium associated with placing the world on a more climate-friendly path, a new international report... 

Cost of decarbonising global energy system falls sharply, new report shows

Glencore announces finalisation of Astron acquisition

By: Creamer Media Reporter      9th April 2019 Glencore South Africa Oil Investments on Monday announced the close of its acquisition of 75% of Astron Energy in South Africa and 100% of Astron Botswana – the two businesses previously owned and operated by Chevron South Africa. Glencore said it was looking forward to working with the Astron... 

Glencore announces finalisation of Astron acquisition

Globeleq, Aurora Power Solutions to build PV projects in Zambia

By: Simone Liedtke     8th April 2019 Independent power producer Globeleq and renewable energy company Sola Group’s Aurora Power Solutions have been awarded two 20 MW solar photovoltaic projects, in Zambia. These projects form part of the Get Fit Zambia programme, through which the government aims to procure 200 MW of renewable... 

Globeleq, Aurora Power Solutions to build PV projects in Zambia

Get Fit Zambia successfully awards six solar PV projects

By: Simone Liedtke     5th April 2019 Get Fit Zambia, which was designed to assist the Zambian government in the implementation of its Refit Strategy, on Friday announced that six solar photovoltaic independent power producer projects, totalling 120 MW, have been awarded. Get Fit Zambia aims to procure 200 MW of renewable energy... 

SRK outlines environmental considerations for Brulpadda gas extraction

By: Marleny Arnoldi     5th April 2019 SRK Consulting environmental assessment practitioner Sue Reuther says although news of the large Brulpadda gas find off South Africa’s southern coast holds economic potential, the project could take ten years to reach production and all environmental risks would first need to be considered for... 

Sapia granted extended exemption for what is normally cartel conduct

By: Marleny Arnoldi     5th April 2019 The Competition Commission has extended the petroleum industry’s exemption of industry activities to June 30, following an application by the South African Petroleum Industry Association (Sapia). Ordinarily, the activities of Sapia members would be considered cartel conduct, says the commission.  

Oando sells 25% stake in Nigerian gas company to private equity firm Helios

By: Reuters     5th April 2019 Oando has sold its 25% stake in Nigerian gas and power company Axxela to majority investor Helios Investment partners for an undisclosed amount, Axxela said on Thursday. The private equity firm now owns 100% of Axxela following Oando's divestment, the gas company said. 

IPPs and distributed energy solutions drive innovation

5th April 2019 While the obligation to deliver safe, reliable power to customers through aging assets is paramount, utilities face a rapidly evolving market as independent power producers (IPPs) and distributed generation solutions drive innovation and investment, says engineering, procurement and construction... 

IPPs and distributed  energy solutions  drive innovation
SOLAR POWER Distributed energy resources are forcing utilities to find ways to distribute electricity in a sustainable and efficient manner or risk losing customers

Digital tech can improve client and project interaction

By: Cameron Mackay     5th April 2019 Professional services firm WSP is finding more opportunities to use emerging digital technologies in delivering engineering and infrastructure projects globally, points out WSP in Africa MD Mathieu du Plooy. This involves the managing of information and data, designing and collaboration efforts... 

Digital tech can improve client and project interaction
MATHIEU DU PLOOY WSP’s focus on the African continent is more sector-based than geographical. We will follow the countries where the need is pressing

Demand for utility-scale battery solutions increasing

By: Thabi Madiba     5th April 2019 Advancements in energy storage technology are starting to reflect in the rise of utility-scale battery solutions, which could revolutionise the ability of intermittent renewables to have higher penetration into the grid, says solar energy company SOLA Future Energy CEO Dr Dom Wills. The company... 

Demand for utility-scale battery solutions increasing
ROBBEN ISLAND BATTERY ROOM SOLA stores excess solar power in lithium-ion batteries and deploys it as the sun sets, resulting in an overall reduction of the diesel used to operate generators

Energy storage a viable solution to load-shedding

By: Thabi Madiba     5th April 2019 Amid State-owned power utility Eskom’s announcement of there being a high risk of rotational load-shedding, which will be implemented only if absolutely necessary, power management company Eaton South Africa MD Seydou Kane says energy storage solutions can play an important role in creating more... 

Energy storage a viable solution to load-shedding
SEYDOU KANE Energy storage solutions provide not only flexibility but also cost savings, should they be integrated into a company’s power grid

Interest in hydrogen storage increasing

By: Thabi Madiba     5th April 2019 Interest in hydrogen energy storage continues to grow, owing to the very large storage capacity that liquid organic hydrogen carrier (LOHC) technology offers, compared with other technologies. Currently, most hydrogen is stored as a cryogenic liquid or is compressed under high pressure, which are... 

Uptick in demand for water-sector consulting

By: Cameron Mackay     5th April 2019 Despite subdued demand for consulting engineering services in South Africa, engineering consulting firm SRK Consulting South Africa has noted an increase in demand for the group’s water-sector consulting services. “As the country faces a backlog in water infrastructure maintenance, it must also... 

Uptick in demand for water-sector consulting
THE MATZIKAMMA MUNICIPALITY The Matzikamma municipality coastline was deemed suitable for land-based aquaculture farming

Strong renewable energy capacity growth continues

By: Simone Liedtke     4th April 2019 The decade-long trend of strong growth in renewable energy capacity continued in 2018 with global additions of 171 GW, according to data released by the International Renewable Energy Agency this week. The year-on-year increase of 7.9% was bolstered by new additions from solar and wind energy,... 

Strong renewable energy capacity growth continues

Nigeria to build seaports to ease gridlock on Lagos's shore

By: Bloomberg     4th April 2019 Nigeria is building a new deep-sea port and considering two additional facilities to ease congestion in the main harbors of the commercial capital, Lagos, which currently handle about 80% of all shipping traffic in Africa’s biggest oil producer. A new facility is already under construction in the... 

Oil nears $70 as Opec tightens supply, hopes for trade deal grow

By: Bloomberg     3rd April 2019 Oil rose near $70 a barrel in London, a level last breached in November, as global crude supplies tightened while hopes for an end to the US-China trade impasse lifted financial markets. Brent crude’s rapid recovery this year -- with the biggest quarterly gain in almost a decade -- is a victory... 

Nigeria's Oando aims to raise fresh capital, cut debt – CEO

By: Reuters     3rd April 2019 Nigerian oil company Oando aims to raise fresh capital over the next two years and repay debt used to acquire Conoco Phillips' Nigerian assets, its chief executive Adewale Tinubu told Reuters. Oando has transformed itself in the past few years from a fuel retailer to oil producer and now competes... 

Exxon weighs sale of Nigerian oil and gas fields for up to $3bn

By: Reuters     2nd April 2019 Exxon Mobil recently held talks on the sale of a suite of oil and gas fields in Nigeria as the company focuses on new developments in US shale and Guyana, industry and banking sources told Reuters. The potential disposals are expected to include stakes in onshore and offshore fields and could... 

Total starts production at Kaombo Sul in Angola

By: Tasneem Bulbulia     2nd April 2019 Energy group Total has started production at Kaombo Sul, the second floating production storage and offloading (FPSO) unit of the Kaombo project, located on Block 32, 260 km off the coast of Luanda, Angola, in water depths ranging from 1 400 m to 2 000 m. Kaombo Sul, which was brought on line... 

Total starts production at Kaombo Sul in Angola
Kaombo Sul

NDB, DBSA sign loan agreement for renewable energy projects in South Africa 

By: Simone Liedtke     1st April 2019 The New Development Bank (NDB) and the Development Bank of Southern Africa (DBSA) have signed a $300-million loan agreement for the Greenhouse Gas Emissions Reduction and Energy Sector Development project. The NDB will provide the loan to the DBSA without a sovereign guarantee. 

Brace for another massive fuel price hike – AA

By: News24Wire      29th March 2019 Motorists should brace for another massive fuel price hike next week, the Automobile Association (AA) warned on Friday. Given the latest data from the Central Energy Fund (CEF), the AA expects petrol to increase by a total of R1.28 a litre, diesel by 77 cents a litre, and illuminating paraffin by... 

 Brace for another massive fuel price hike – AA
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