R/€ = 17.25 Change: -0.01
R/$ = 15.49 Change: -0.15
Au 1793.89 $/oz Change: -50.95
Pt 1024.00 $/oz Change: -20.00


Energy Africa says Petronas takeover fails

15th November 2002 Small South African oil firm Energy Africa said on Friday a hostile takeover bid by Malaysia's Petronas had failed after an insufficient number of minority shareholders accepted the offer. 

E Guinea distances itself from oil-cap claim

14th November 2002 Equatorial Guinea distanced has itself from statements that it wanted to cap its oil output, saying it needed more field developments to extend flow rates beyond 2005. 

Indian oil group enters Sudan

13th November 2002 Sudan this week said it had picked a state-owned Indian oil company to replace Canada's Talisman Energy in its oil sector, because it would be less vulnerable to criticism from non-government organisations. 

No need for OPEC production change - Algeria

11th November 2002 The OPEC oil cartel has no need to change supply quotas at its December meeting, as demand is strong enough to absorb the cartel's current overproduction, Algeria's Energy Minister said last week. 

Oil company retreats on Petronas offer

7th November 2002 Oil firm Energy Africa, the target of a hostile takeover by Malaysia's Petronas, changed tack on Wednesday by advising shareholders to sell after negotiations with potential white knights failed. 

Mysterious buyer set to rescue SA oil firm

6th November 2002 A hostile R1,6-billion ($162-million) bid by Malaysia's Petronas to buy out minority shareholders in oil group Energy Africa looks set to fail, thwarted by a mysterious buyer, analysts said yesterday. 

Algeria’s oilfield due onstream in December

5th November 2002 Algeria's new Ourhoud oilfield is scheduled to come onstream in December and will reach peak production of 230 000 barrels per day (bpd) in mid-2003, a foreign partner in the project said last week. 

India trumpets new oil and gas, analysts cautious

4th November 2002 Energy-hungry India trumpeted its acquisition of equity oil in Sudan and the discovery of a large gas field in a deep-water block, but analysts said it was too early to celebrate. 

Accidents intensify LPG safety drive

By: Zonika Botha     1st November 2002 About 282 000 kg of liquefied petroleum gas (LPG) is sold each year in Southern Africa in cylinders ranging in size from 1,4 kg to bulk deliveries. 

West African gas pipeline on track – oil group

1st November 2002 A project, led by oil major ChevronTexaco, to build a $500-million gas pipeline is on track to link producer Nigeria with neighbouring countries, a company official told Reuters on Wednesday. 

Brazilian mineral oils offered to SA

By: Keith Campbell     1st November 2002 BRAZILIAN petrochemical group Ipiranga is seeking to be a supplier of white mineral oils to the South African market. 

Senegal gas field goes onstream

31st October 2002 Small US exploration company, Fortesa International, this month began producing gas in onshore Senegal in West Africa and is applying for a licence for the adjoining offshore field, its chief executive said on Tuesday. 

Africa looks south for waste-oil solutions

28th October 2002 Over 32 delegates, from English-speaking African countries that are signatories to the Basel Convention on the Transboundary Movement of Toxic and Hazardous Waste, were hosted in Cape Town in October to prepare a plan of action for managing waste oils in Africa and their own countries. 

Nigeria votes to ease tension over oil cash

28th October 2002 The Nigerian senate passed a law last week giving the country's oil-producing states a share of revenues from offshore oil wells, in a move intended to defuse tension in such states over revenue sharing. 

Oil explorer in talks with other bidders

By: Martin Czernowalow     25th October 2002 South African oil and exploration group, Energy Africa announced last week that it was in talks with bidders who are interested in some 34,7% of the company, the only portion not held by Malaysain State-owned oil company Petronas. 

Resources group signs China LNG sales, purchase deals

23rd October 2002 Resources group BHP Billiton, together with the other participants in the North West Shelf Venture, recently signed sales and purchase agreements with the companies comprising the Guangdong LNG Project for the purchase and supply of liquefied natural gas (LNG), from the North West Shelf (NWS) in... 

SA oil group to lift Gabon crude in Nov

23rd October 2002 Petrochemical group Sasol has announced that oil production from the Etame Field, offshore southern Gabon, is exceeding expectation and the first lifting of crude oil is expected in early November. 

OPEC may raise quota levels for Algeria, Libya

22nd October 2002 OPEC would examine Algeria's request to increase its quota to 1,1-million barrels per day (bpd) from 693 000 bpd curently when its meets on December 12, the official Algerian news agency APS said. 

Oil industry empowerment crucial - Sapia

21st October 2002 If South Africa is to avoid following Zimbabwe down the slippery slope to economic ruin, all South Africans and business people in particular, must start taking black economic empowerment (BEE) seriously. 

W Coast oil, gas search intensifies

18th October 2002 The petroleum arm of resources group BHP Billiton and its co-venturer Global Offshore Oil Exploration SA are joining the search for oil and gas off the West Coast of Africa. 

Black firm wins State condensate order

18th October 2002 South Africa's State-owned oil company PetroSA has awarded a R750-million ($72,09-million) condensates procurement contract to little known black-owned Imvume Resources, a spokesman said this week. 

Oil giant starts Nigeria oil project

18th October 2002 Oil major Exxon Mobil has started construction of its Erha deepwater development offshore Nigeria, the company said on Wednesday. 

SA to monitor progress of BEE in oil industry

18th October 2002 South Africa is setting up a committee to monitor progress in the liquid fuels industry, which aims for 25% black industry ownership by 2010, an official said on Wednesday. 

Syria-Cyprus gas link depends on Mideast pipeline

16th October 2002 Cyprus's decision to build a gas pipeline to bring gas from Syria could depend on whether a much larger $1-billion grid linking Syria to gas producer Egypt will be completed, a government source said on Monday. 

Angola says new refinery work on schedule

15th October 2002 Angola's government-owned oil firm Sonangol said on Sunday that work on its $3,6-billion 200 000-barrels-a-day oil refinery in Lobito was on course and construction would start on schedule early next year. 

SA oil explorer in growth phase

By: Martin Czernowalow     15th October 2002 South African-based international oil and gas exploration and production company, Energy Africa, which is listed on the Johannesburg and Luxembourg Stock Exchanges, reports an increase in cash flows to $61-million and increased average production to 22 540 bpd, in its interim annual report. 

French oil major denies interest in Peru gas project

14th October 2002 French oil major TotalFinaElf last week denied it was interested in taking a stake in Peru's Camisea natural gas project at present, despite earlier comments from a representative of the company in Peru that it was in talks with Argentina's Pluspetrol to do so. 

Malaysian offer for oil group ‘too low’

11th October 2002 South African oil group Energy Africa put the group's value at R72,51 a share yesterday, which it said was a 66 percent premium to an offer to shareholders by Malaysia's state-run Petronas. 

US bank backs Nigerian gas project

10th October 2002 The Nigerian Liquefied Natural Gas (NLNG) company has secured a $135-million guarantee from the US Export-Import Bank to procure American equipment for its expansion programme, an official statement said on Tuesday. 

Majors interested in Ghana’s oil potential

9th October 2002 Oil majors are in talks with Ghana over exploring the West African country's deepwater potential, as fears of a war in Iraq add impetus for the US to reduce reliance on Middle East supplies, its energy minister said on Monday. 

Angola oil firm appoints adviser for refinery

9th October 2002 Angola's state oil company, Sonangol has appointed investment bank Dresdner Kleinwort Wasserstein as financial adviser on a $3,6-billion refinery project, the bank said on Monday. 

Tanzania in oil-exploration talks

7th October 2002 Tanzania expects to begin talks with oil giant Royal Dutch/Shell before the end of October on the terms of an offshore exploration licence awarded in September, an official said last week. 

Yag laser system to be introduced to SA

By: candice haase     4th October 2002 Ever since government began to intensify the development of the automotive component industry, the potential for laser technology has been identified by tooling technology company Retecon. 

German torch test yields positive results

By: candice haase     4th October 2002 A local supplier of welding equipment has tested a German torch at a local automotive manufacturer with success. Johannesburg-based Weld-Cut Equipment, which has the exclusive right to distribute Team Binzel Industries (TBI) torches to the South African market has had positive feedback from the... 

Local company manufactures semiautomatic armature welding machine

By: candice haase     4th October 2002 To cut the costs associated with importing overseas manufactured semiautomatic armature welding machines, state-owned rolling-stock company Transwerk’s Cape Town operation commissioned Argon Arc Welding Supplies to design and manufacture a tungsten inert gas (Tig) armature welding machine... 

R45m project to implement value-added customer service

By: candice haase     4th October 2002 Over the last year, Afrox has been developing and implementing a value-added service for selected large customers in the welding and cutting industry. 

Gas-cutting machine designed, manufactured for steel giant

4th October 2002 A local company is designing and manufacturing a portal gas-cutting machine to meet the specific requirements of Iscor Vanderbijlpark. 

New range of gases for welding applications

By: candice haase     4th October 2002 Using the formula developed and commercialised by its US-based parent company Air Products South Africa introduced its new range of premier gases for welding applications, called Maxx Gases, to the local market at the beginning of this month. 

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