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Oil & Gas News

Treasury extends deadline for comment on new tax proposals

By: Darren Parker     21st January 2022 The National Treasury has provided deadline extensions for public comment on three discussion documents that were published on December 15. Owing to the comment period falling partially over the holiday period when many businesses were closed and, consequently, numerous requests for extension... 

Shell appeals $2bn judgment in Nigeria pollution case

By: Bloomberg     21st January 2022 A Nigerian court will hear Royal Dutch Shell Plc’s appeal to overturn an almost $2 billion award against the company for allegedly spilling oil in the West African country. The energy giant is challenging a November 2020 judgment in favor of community members claiming a leak from a company... 

Industrial gas consumers ‘staring down barrel of gun’ as big July hike looms 

By: Terence Creamer     17th January 2022 A court application to have the energy regulator’s 2021 approval of Sasol Gas’s maximum gas prices set aside as irrational is but the latest clash in what has been a long-running saga over the way domestic gas prices are set in a market bereft of competition. This time, however, the stakes for... 

IGUA-SA executive officer Jaco Human
IGUA-SA executive officer Jaco Human

Another seismic survey is heading to SA waters, this time from Australia

By: News24Wire      13th January 2022 Just as the Amazon Warrior, a vessel that was to conduct a seismic survey off the Wild Coast on behalf of Shell, left South Africa, attention is now focused on another planned survey, this time off the West Coast. In December, the Makhanda High Court granted an interim interdict to halt Shell’s... 

Indian Ocean

Southern African bloc extends Mozambique troop deployment

By: Reuters     12th January 2022 Southern African countries agreed at a summit on Wednesday to extend their troop deployment in Mozambique to help the government fight an Islamic State-linked insurgency, a communique said. The countries, linked in the Southern African Development Community, agreed in June to send troops to help... 

Opinion: The ocean economy is integral to the revival of the Eastern Cape's habitability

12th January 2022 With its immense resource wealth and potential to boost economic growth, employment and innovation, the ocean in the Eastern Cape could become the new economic frontier, writes Nelson Mandela University Infrastructure Development & Engagement Unit associate Bongani Mankewu. 

Bongani Mankewu

Opinion: Shell prevented from proceeding with seismic survey offshore of South Africa’s Eastern Cape province

10th January 2022 In this opinion piece, law firm Herbert Smith Freehills partner and Africa co-chairperson Peter Leon, senior associate Ernst Muller and associate Mandy Hattingh write about the High Court's decision to grant local communities an urgent interim injunction prohibiting Shell from conducting any... 

Herbert Smith Freehills partner Peter Leon
Photo by Creamer Media
Herbert Smith Freehills partner Peter Leon

Goldman bullish on commodities, seeing years-long supercycle

By: Bloomberg     7th January 2022 Goldman Sachs Group is “extremely bullish” on commodities, amid a supercycle that has the potential to last for a decade, according to Jeff Currie, the bank’s global head of commodities research. The new year has started against a backdrop that includes record dislocations in energy, metals and... 

Tullow CEO signals oil’s heady days over with spending clampdown

By: Bloomberg     6th January 2022 Oil explorers have flown high and crashed back to earth over the past decade, and Rahul Dhir knows both parts of the journey better than anyone. He made his name 15 years ago with the multibillion-dollar initial public offering of a company that made a huge crude discovery in India. Dhir is now... 

Shell’s seismic vessel leaving South Africa after court loss

By: Bloomberg     5th January 2022 The vessel hired by Royal Dutch Shell to look for potential oil- and gasfields is on course to leave South African waters after community groups won a court case to temporarily halt the activity. A judge on December 28 granted local activists an interim interdict blocking any seismic surveys... 

EU proposal to label natural gas as green energy good for Africa, says African Energy Chamber

By: Schalk Burger     4th January 2022 African energy sector organisation the African Energy Chamber has welcomed a European Union (EU) proposal to label natural gas as a green energy source, as well as the EU's support for an inclusive energy transition. The chamber noted in a statement this week that Africa had to industrialise to... 

Algeria's Sonatrach to invest $39 billion in 2022 to 2026, CEO says

By: Reuters     3rd January 2022 Algeria will invest $39-billion in its energy sector from 2022 to 2026 to maintain its hydrocarbon output, Sonatrach's CEO Tewfiq Hakkar told state TV ALG24. Of the $39-billion investment, $6-billion will be invested in 2022, Hakkar said. 

DMRE releases Gas Masterplan base case report

By: Donna Slater     15th December 2021 The Department of Mineral Resources and Energy (DMRE) has released the Gas Masterplan base case report for public comment. The Gas Masterplan, once developed, will serve as a policy instrument, providing a roadmap for taking strategic, political and institutional decisions, which will guide... 

Sasol confirms major downward revision to Secunda’s output amid ongoing coal problems 

By: Terence Creamer     14th December 2021 Chemicals and energy group Sasol has announced a significant downward revision to its 2022 production forecast from its Secunda operations in Mpumalanga, owing to ongoing coal production problems. The JSE-listed company told shareholders on Tuesday that output from Secunda would be between... 

Sasol Secunda
Sasol Secunda

'Special apartheid': Mantashe accuses anti-Shell lobby of 'oppressing' development  

By: News24Wire      9th December 2021 Mineral Resources and Energy Minister Gwede Mantashe has condemned "unrelenting attacks" on oil and gas development in South Africa, which appear designed to thwart economic growth and deepen unemployment in the country. "Africa deserves an equal chance to develop its economies on the strength of... 

Mineral Resources and Energy Minister Gwede Mantashe
Mineral Resources and Energy Minister Gwede Mantashe

Shell faces fresh South African court test over seismic programme

By: Bloomberg     7th December 2021 Royal Dutch Shell faces a fresh legal challenge to its planed seismic survey off South Africa’s eastern coastline with local communities seeking to halt the program. The case, filed last week, comes after a South African High Court on Friday dismissed a request for an interdict from a group... 

Gas-powered electricity generation not South Africa’s best bet for the long term –WWF

By: Donna Slater     6th December 2021 The attractiveness of renewable energy, even in the face of using gas as a bridging fuel to take off from where coal is being disused, is continuing to increase, the World Wide Fund for Nature senior climate specialist James Reeler has said. During a webinar titled ‘Fossil gas: decarbonisation... 

Germiston-based DNG Energy receives first LNG shipment

By: Donna Slater     30th November 2021 Pan-African liquefied natural gas (LNG) supply network DNG Energy has received a shipment of LNG at its plant in Germiston, enabling the company to accelerate its pilot projects with its partners in the next few weeks. DNG Energy’s pilot projects aim to test the feasibility of using LNG as an... 

Total, Eni eye billion-dollar energy projects in Libya

By: Bloomberg     23rd November 2021 France’s TotalEnergies and Italy’s SpA said they were ready to invest billions of dollars in Libya as the Opec nation emerges from a decade of conflict and civil war. “I want to contribute to Libya’s comeback,” TotalEnergies’ CEO Patrick Pouyanne said on Monday at an energy conference in the... 

Green Connection speaks out against Wild Coast seismic survey by oil and gas multinational

By: Schalk Burger     22nd November 2021 The Department of Forestry, Fisheries and the Environment (DFFE) on November 22 said Mineral Resources and Energy Minister Gwede Mantashe was responsible for the administration of the Mineral and Petroleum Resources Development Act (MPRDA) and that Forestry, Fisheries and the Environment Minister... 

Afreximbank signs $1bn petroleum exploration deal with Nigerian National Petroleum Corporation

By: Schalk Burger     18th November 2021 Multilateral financial institution the African Export-Import Bank (Afreximbank) has signed a $1.04-billion facility with the Nigerian National Petroleum Corporation (NNPC) to finance the exploration of petroleum. The transaction comprises a pre-export/shipment finance facility underpinned by a... 

Oil spill sees 80 litres of fuel enter Algoa Bay, possibly endangering seabirds

By: News24Wire      18th November 2021 An oil spill has occurred in Algoa Bay, with around 80 litres of fuel entering the sea. The South African Maritime Safety Authority (Samsa) and other stakeholders have started clean-up efforts and an investigation is under way. 

Not a ‘finance COP’, but ‘solid work programme’ in place for defining new climate-finance goal 

By: Terence Creamer     17th November 2021 Forestry, Fisheries and the Environment Minister Barbara Creecy says that, although COP26 was not the ‘finance COP’ hoped for ahead of the Glasgow meeting, it nevertheless did yield “a good, solid work programme” for defining the post-2025 finance goal and for ensuring that the prevailing... 

Forestry, Fisheries and the Environment Minister Barbara Creecy
Forestry, Fisheries and the Environment Minister Barbara Creecy

Vivo Energy appoints CEO designate

By: Schalk Burger     9th November 2021 JSE-listed energy multinational Vivo Energy has appointed Stanislas Mittelman as CEO designate. He will succeed CEO Christian Chammas, who will step down in 2022. 

Funding Africa’s $2.8tr net-zero transition by 2050 a ‘pressing issue’ 

By: Terence Creamer     4th November 2021 Funding Africa’s transition to net zero by 2050 is one of the most pressing issues that Africa and the world must address, PwC states in a new report that estimates the cost of such a transition to be about $2.8-trillion. The ‘Africa Energy Review 2021’ calculates that $33-billion would be... 

PwC energy strategy and infrastructure head James Mackay
PwC energy strategy and infrastructure head James Mackay

Top-performing South African fund rides bet on energy stocks

By: Bloomberg     4th November 2021 South Africa’s top-performing equity fund has reaped the benefit of a wager that battered stocks, particularly in the energy sector, would flourish as economies rebounded from the worst of the pandemic. Blue Quadrant Capital Management’s Worldwide Flexible Prescient Fund has returned 125% this... 

Natural gas key to Africa’s energy security, says AfDB’s Adesina

By: Bloomberg     4th November 2021 Natural gas remains key to Africa’s energy security and economic prosperity, even as political pressure grows to speed up the transition away from fossil fuels, according to the continent’s biggest development bank. “Gas is fundamental to Africa’s energy system,” African Development Bank... 

Confluence of factors drove recent sharp rise in energy prices

By: Schalk Burger     3rd November 2021 The global energy price shock that has impacted especially energy-intensive industries in major and emerging markets was driven by different local factors in various parts of the world. Those factors include drought conditions in Brazil reducing hydropower output, a prolonged winter in Europe and... 

Renergen reports 600% increase in South African helium reserves

By: Esmarie Iannucci     3rd November 2021 ASX-listed Renergen has reported an over 600% increase in methane and helium reserves at its flagship Virginia gas project, in South Africa. The company told shareholders that following a recent drilling campaign as part of the ongoing assessment and development of Virginia, accreditation agency... 

NBI study sees role for gas in South Africa’s transition to low-carbon economy 

By: Terence Creamer     2nd November 2021 A new National Business Initiative (NBI) study offers support for gas as a transition fuel in South Africa’s shift from coal in the production of electricity and synthetic fuels (synfuels). The study stresses, however, that this role should be confined in the electricity sector to the provision... 

A photo of a LNG tanker
Report says LNG imports will lower gas lock-in risk

Energas supplies gas gensets to power new residential development

By: Tasneem Bulbulia     25th October 2021 Specialised equipment supplier to the oil and gas industries Energas Technologies is supplying three gas generators to a new residential development. Amid the ongoing energy crisis in South Africa, Energas says it has seen a growing appetite for gas-to-power solutions as property developers are... 

An image of an Energas gas generator set
Energas gas generator

Sakhumnotho acquires 26% stake in Refinex, SA Tank Terminals

By: Schalk Burger     21st October 2021 Investment management company Sakhumnotho has acquired a 26% stake in the privately owned petrochemicals company Refinex and bulk liquid storage company South African Tank Terminals (SATT). This signifies the arrival of an important new player in the energy market, Sakhumnotho said. 

S&P comments on ‘slightly weaker’ outlook for Sasol

By: Simone Liedtke     19th October 2021 Improvements in petrochemicals company Sasol’s leverage and credit metrics has led to S&P Global Ratings adjusting its outlook on the business profile as “slightly weaker” owing to having underperformed against the agency’s expectations. While this poorer-than-expected performance is largely... 

Renergen, Argonon agreement to potentially establish helium spot market 

By: Simone Liedtke     17th October 2021 South African natural gas and helium producer Renergen has inked a helium forward sale agreement with helium trading company Argonon Helium US for 100 000 units over 19 years, with each unit representing a thousand standard cubic feet (mcf) of helium at 99.999% purity and in liquid form. Argonon... 

Overhead view of Renergen's Virginia gas project, in outh Africa's Free State
Renergen's Virginia gas project

Need for training in LNG sector recognised

By: Halima Frost     15th October 2021 With liquefied natural gas (LNG) expected to grow exponentially over the next five years, owing to the global drive to greener power generation, diverse consulting service provider Synergy Oil & Gas Consulting & Training senior energy manager Ismaeel Fataar says now is the time to upskill workers... 

A large ocean bearing vessel with LNG Gas from Mozambique and other parts of the world to South Africa.
KEEPING AFLOAT In order for South Africa to keep abreast with international standards, its LPG workers must be trained correctly

Eskom aiming to secure concessional funding for R400bn just energy transition project pipeline 

By: Terence Creamer     14th October 2021 State-owned electricity producer Eskom has identified a pipeline of ‘just energy transition’ projects valued at about R400-billion that it will seek to fund using concessional finance raised from international financiers that have committed to supporting decarbonisation initiatives in developing... 

Photo of Eskom's rock-man statue at Megawatt Park

Eni to exit South Africa offshore oil block amid tech challenges

By: Bloomberg     14th October 2021 Eni is pulling out of plans to explore for oil with Sasol in a large block off South Africa’s southeast coast due to concerns over the technical challenges of drilling in deep waters, according to two people familiar with the decision. The people asked not to be identified as the matter is private. 

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