R/€ = 17.39 Change: -0.01
R/$ = 15.32 Change: 0.01
Au 1840.10 $/oz Change: 25.36
Pt 1031.50 $/oz Change: 42.89


Nigeria shuts down second refinery

11th April 2003 Nigeria has temporarily shut down a second oil refinery, leaving only two of its refineries still up and running, a spokesman for the national oil body told Reuters yesterday. 

Oil group in slow Nigeria restart

10th April 2003 The Nigerian unit of US oil major ChevronTexaco said this week it was continuing to gradually ramp up oil production at facilities it had been forced to abandon following ethnic clashes last month. 

Saboteurs behind fuel crisis – Nigerian minister

4th April 2003 Nigeria's information minister repeated allegations this week that unnamed saboteurs were behind a six-week-old fuel shortage in Nigeria, which has led to snaking queues at petrol stations and caused severe congestion in major cities. 

Nigerian oil outage far from ending

4th April 2003 Oil majors, forced to shut down almost 40% of Nigerian crude output following ethnic violence, said yesterday they could not estimate when they would restart production in the affected areas. 

ChevronTexaco restarts Nigerian oil output

4th April 2003 Oil major ChevronTexaco said today it had gradually restarted Nigerian production it was forced to shut down 12 days ago because of ethnic clashes. 

Italian energy group bids for Egyptian assets

3rd April 2003 Italy's biggest oil and gas group, Eni, has bid for natural gas assets in Egypt that energy group Edison had put on sale to help cut debt, an Eni source said yesterday. 

Oil still blocked from Nigeria's strife-torn region

3rd April 2003 Oil major ChevronTexaco said it would meet with local government officials in the Nigerian oil town of Warri today to discuss how it could restart production in the oil-rich western Niger Delta, after a serious outbreak of ethnic violence. 

Two new Angolan oil discoveries announced

2nd April 2003 French oil giant TotalfinaElf and Angolan State oil company Sonangol announced yesterday two new oil discoveries in Angola's deep offshore Block 17, taking the total for the block to 15. 

Big oil focus for Nigeria expo

2nd April 2003 The Nigoil 2003 exhibition, taking place between September 24 and 26 in Lagos, Nigeria, is a showcase and conference for West Africa’s oil, gas and petrochemical industries. 

Temane electrical contract awarded

1st April 2003 The instrumentation and electrical contract for the central processing facility (CPF) at the Temane gas fields, in Mozambique, has been awarded to B&W Instrumentation and Electrical, in a joint venture with Electrotec LDA of Maputo. 

New Qatar gas field to supply GTL project

31st March 2003 Qatar said last week it had set up a company with US major Exxon Mobil Corp to invest an initial $1,1-billion to develop North Field, the world's largest gas field. 

Strife forces new Nigeria oil delay despite truce

28th March 2003 Nigerian unrest forced oil giant Royal Dutch/Shell to announce new delays to shipments yesterday, as foreign oil firms said a truce among warring tribes would spell no quick return to oilfields they fled. 

Obasanjo seeks to intervene in Niger Delta oil crisis

28th March 2003 Nigerian President Olusegun Obasanjo has ordered security chiefs to end clashes in the Niger Delta, which has cut oil output by some 800,000 barrels per day (bpd), sources in his office said Friday. 

Exxon to boost Nigeria output as Delta crisis continues

27th March 2003 US multinational ExxonMobil said yesterday it was ready to increase its Nigerian oil output to help compensate for losses by other producers because of ethnic unrest. 

Iraq, Nigeria oil exports loss to hit US

27th March 2003 Iraq's official oil exports slid 75% in the week ended last Friday, while a military-tribal clash in Nigeria has slashed exports from the fellow OPEC producer, stoking concerns about the impact on US crude supply, analysts said this week. 

Nigerian truce raises hopes for oil region

27th March 2003 Warring tribal factions in Nigeria's oil-rich delta have agreed to halt bloody clashes and should let oil majors restart a huge slice of the OPEC member's shut production, local officials said yesterday. 

New Angolan Refinery

26th March 2003 The new oil refinery is expected to produce 200 000 barrels of oil a day. Production is likely to come on stream in early 2007. 

SA oil explorer in a new E Guinea move

21st March 2003 South African-based oil and gas exploration and production group Energy Africa last week announced a farm-out agreement with Chevron Equatorial Guinea, an affiliate of ChevronTexaco, to acquire a 20% interest in Block L, Equatorial Guinea. 

SA company’s export success reaches Nepal

By: candice haase     21st March 2003 A South African engineering and manufacturing company, Fluidex Engineering, has been exporting transformer oil purification plants since 1985, and regeneration plants since the early 1990s. 

Dual-filtration product is introduced locally

By: candice haase     21st March 2003 The reduction of the wear of automatic transmission and power-steering technology is an area that is fast developing in the automotive sector. 

Make-or-buy decision looms for SA oil

By: Zonika Botha     21st March 2003 With the local refining industry having less than three years to revamp its plants to be able to replace leaded fuel with unleaded fuel, refiners will have to make a decision whether to produce the fuel locally or import it from overseas, South African Petroleum Industry Association director... 

Third train starts at Algerian oilfield

18th March 2003 The third 75 000 barrel per day (bpd) train at Algeria's Ourhoud oilfield has started up, a foreign equity holder said yesterday, indicating peak production of 230 000 bpd may be reached well ahead of the mid-year target. 

Guinea keen to boost oil exploration

18th March 2003 Guinea is keen to step up the search for oil off its Atlantic coast and wants to attract more foreign oil firms to bolster exploration efforts in the poor West African country. 

Durban refinery gets go-ahead to up output 20%

18th March 2003 South African environmental authorities have given the green light to Engen's Durban refinery to raise production by 20% to 150 000 barrels per day (bpd), the refinery said yesterday. 

Petrosa to pay State R1,6bn dividend

18th March 2003 The Petroleum, Oil and Gas Corporation of South Africa (Petrosa) is to pay a special dividend of R1,6-billion to government. 

The state of State oil

By: Jill Stanford     17th March 2003 State oil company PetroSA, formed last year from a merger of synthetic-fuel producer Mossgas, oil production and explor-ation company Soekor and some of the Strategic Fuel Fund operations, hopes to shed its ‘white elephant’ tag and transform itself into an effective vehicle for... 

Petronas buys Mobil business in Sudan

17th March 2003 Malaysia's state oil and gas firm Petronas said on Friday it has completed the purchase of Mobil International Petroleum Corp's Sudan unit to boost its Sudanese operations. 

The state of State oil

14th March 2003 State oil company PetroSA, formed last year from a merger of synthetic-fuel producer Mossgas, oil production and exploration company Soekor and some of the Strategic Fuel Fund operations, hopes to shed its ‘white elephant’ tag and transform itself into an effective vehicle for... 

Decision time for oil sector as 2006 looms

14th March 2003 SOME very important decisions will have to be made by the oil companies on how they are going to meet their post-2006 product requirements says the South African Petroleum Industry Association’s (Sapia’s) 2002 report released earlier this month. 

Spare Opec capacity squeezed – energy agency

13th March 2003 Spare Opec oil production capacity has been squeezed to just half the volume of Iraq's exports, exposing world markets as war looms, the International Energy Agency (IEA) said yesterday. 

Lockerbie deal may see re-entry of US firms into Libya

13th March 2003 US oil companies could be one step closer to restarting their long-mothballed operations in Libya, after the energy-rich nation reportedly reached an agreement with Washington and London this week to accept responsibility for the 1988 Lockerbie bombing. 

Opec seeks to prevent energy shortage in war

12th March 2003 The Opec cartel prepared yesterday to reassure anxious world energy markets that it could prevent an oil shortage during any war on Iraq. 

Energy Africa buys into E Guinea block

12th March 2003 South African-based oil and gas exploration and production group, Energy Africa Limited, has announced that a farmout agreement has been signed with Chevron Equatorial Guinea – affiliate of ChevronTexaco – to acquire a 20% interest in Block L, Equatorial Guinea. 

Tanzania to produce natural gas by May 2004

11th March 2003 Tanzania could produce natural gas to be used to produce electricity by May 2004, becoming the first country in the East Africa region to do so, officials of companies undertaking a gas project said. 

Big empowerment thrust at petchem giant

By: Martin Zhuwakinyu     7th March 2003 In its latest move to promote black economic empowerment (BEE), petrochemicals group Sasol has, through a partially-owned subsidiary, concluded a deal which has created probably the largest black-owned engineering merchant company in South Africa. 

East Africa seeks energy-exploration investors

7th March 2003 The three East African countries of Kenya, Uganda and Tanzania said this week they would step up efforts to woo oil prospecting companies into the region to find oil so they can cut down on their import bill. 

Sasol expected to report strong results

7th March 2003 South African synthetic fuel producer Sasol is expected to post a small rise in half year earnings when it reports results next week, fuelled by a stronger crude oil price and a weaker rand. 

Norwegian firm in Sao Tome oil deal

6th March 2003 Norway's Petroleum Geo-Services (PSG) has signed a revised offshore oil exploration pact with the African island nation of Sao Tome e Principe, Portuguese news agency Lusa reported. 

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