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Oil & Gas News

Oando reaches settlement with regulator on long-running disputes

By: Reuters     20th July 2021  Nigeria's Oando has reached a settlement with the Securities and Exchange Commission (SEC), the oil company said on Monday, after the regulator ordered the removal of its management team and suspended its annual meetings. Oando challenged the regulator's actions. It has been in a battle since... 

IEA report points to growth in global electricity demand this year

By: Donna Slater     15th July 2021 The International Energy Agency (IEA) expects global electricity demand to rebound strongly this year and next. Electricity demand decreased by about 1% in 2020, but is expected to grow by 5% this year and by 4% in 2022, a new IEA report shows.  

New Upstream Petroleum Resources Development Bill lauded for improvements

By: Donna Slater     12th July 2021 A new and updated Upstream Petroleum Resources Development Bill, which was introduced to Parliament on July 1, is a significant improvement on its predecessor, reports law firm Herbert Smith Freehills’ (HSF’s) Peter Leon, Paul Morton, Ernst Muller and Lauren Paxton. In a note, the authors state... 

Renergen finds 1.9% helium surprise in P12 at Virginia gas project

By: Simone Liedtke     12th July 2021 Natural gas and helium producer Renergen’s P12 well, which was previously plugged and abandoned, was observed to start flowing gas (at low rates) in the days following rig release. The flow rate has subsequently continued to increase with a current flow rate in excess of 30 000 standard cubic... 

US advisory firm gets behind local LPG company to grow asset base

By: Marleny Arnoldi     6th July 2021 Gas start-up company Bluedrop Energy plans to list its shares on the NYSE in 2022 and the JSE at a later stage. Bluedrop in April secured $20-million, or R300-million, in funding from US-based private equity firm J Sassoon Group for the construction of a smart composite liquid petroleum gas... 

Bluedrop Energy CEO Kenneth Maduna
Bluedrop Energy CEO Kenneth Maduna

First BioLNG production project considered at French port

By: Simone Liedtke     5th July 2021 French firms EveRé, CMA CGM Group, Elengy and TotalEnergies have joined forces to study the feasibility of creating France’s first production unit for liquefied biomethane (BioLNG), a low-carbon alternative fuel dedicated to the energy transition in the shipping industry EveRé is the operator of... 

New IEA report paints complex picture for future of gas demand 

By: Terence Creamer     5th July 2021 A new International Energy Agency (IEA) report on the outlook for gas presents a complex picture of the fuel’s role in the unfolding energy transition, as well as the outlook for demand. The report forecasts that there will be an immediate 3.5% recovery in demand from the Covid-afflicted 2020... 

New IEA report paints complex picture for future of gas demand

ECMBC, Nafcoc to appeal DFFE’s decision over Karpowership SA’s EIAs

By: Tasneem Bulbulia     5th July 2021 The Eastern Cape Maritime Business Chamber (ECMBC) and the National African Federated Chamber of Commerce and Industry (Nafcoc) Nelson Mandela Bay (NMB) region on July 5 said that would appeal the decision by the Department of Forestry, Fisheries and the Environment (DFFE) not to approve... 

Company achieves milestone

By: Theresa Bhowan     2nd July 2021 Rapidly growing demand in the industrial sector, has seen nitrogen generation equipment supplier Nitralife recently achieving the milestone of having supplied more than 100 customised Nitracut generators to the fabrication and industrial sector over the past four years. “With each new sector and... 

NEXT GENERATION 
While Nitralife’s nitrogen generators have similar designs for various applications, it adjusts each variation according to customer's specifications
NEXT GENERATION While Nitralife’s nitrogen generators have similar designs for various applications, it adjusts each variation according to customer's specifications

Itochu partners with Shell to lower its mining sites’ carbon footprint

By: Donna Slater     1st July 2021 Petrochemicals company Shell International and Tokyo-headquartered investment firm Itochu Corporation have agreed to collaborate to accelerate the digitalisation and decarbonisation of Itochu’s mining sites, as well as increase the operational efficiency thereof. Shell will offer its sectoral... 

Union welcomes High Court’s decision to set aside ‘unlawful’ Econ Oil supply deal

By: Marleny Arnoldi     1st July 2021 The National Union of Mineworkers (NUM) has welcomed the Gauteng High Court’s ruling to set aside the R8-billion tender between power utility Eskom and oil blender Econ Oil after the matter was heard on June 9. The court on June 29 found that the contract was unlawful.  

RBPlat’s Hanré Rossouw appointed CFO designate at Sasol

By: Marleny Arnoldi     1st July 2021 JSE-and NYSE-listed petrochemicals group Sasol has announced that its CFO and executive director Paul Victor will step down from his roles at the end of June next year. He will be succeeded by Hanré Rossouw, who is currently the CFO of Royal Bafokeng Platinum (RBPlat).  

Renergen’s C3P0 well strikes gas with higher-than-expected helium concentration

By: Simone Liedtke     30th June 2021 One of natural gas and helium producer Renergen’s current wells, C3P0, has struck gas, with a helium concentration of 1.7%, slightly above pre-drill expectations for this well. Renergen says the well is currently waterlogged in order to allow for the running of standard electronic wireline logs,... 

Foundation drives development in Africa from ‘clean’ perspective

By: Marleny Arnoldi     29th June 2021 Climate change interventions have immense potential to unlock new development pathways on the African continent, which necessitates that climate change be brought to the forefront of development thinking and planning in Africa, says the African Climate Foundation (ACF). The foundation, during a... 

TotalEnergies, Uber partner to accelerate transition of electric mobility

By: Simone Liedtke     29th June 2021 TotalEnergies and Uber are partnering to accelerate the transition of Uber’s drivers towards electric mobility, by providing support for vehicle conversion and easier access to charge points. The partnership will be rolled out in France at first, after which it could potentially be extended to... 

South African oil law seen unlikely to be approved until 2022

By: Bloomberg     29th June 2021 South Africa’s draft oil exploration and production law is unlikely to be finalized for at least another year, despite the government’s call for the legislation to be expedited. Parliamentary hearings and amendments to the Upstream Petroleum Resources Development Bill published earlier in June... 

State gas companies move to exercise pre-emptive rights over Moz-SA pipeline 

By: Terence Creamer     28th June 2021 The State-owned gas companies of South Africa and Mozambique have announced that they have exercised their pre-emptive rights to acquire, for R4.15-billion, the 30% equity stake in the Republic of Mozambique Pipeline (Rompco) hitherto owned by Sasol. The announcement follows on from Sasol’s May... 

State gas companies move to exercise pre-emptive rights over Moz-SA pipeline

Renergen raises A$10m for Virginia gas project development, exploration 

By: Simone Liedtke     25th June 2021 South African natural gas and helium producer Renergen has successfully raised A$10-million through an equity raise to fund developments at its Virginia gas project, in South Africa’s Free State. The placement was subscribed to by existing and new domestic and international institutions and... 

Renergen raises A$10m for Virginia gas project development, exploration

Renergen halts trading on ASX ahead of capital raise announcement

By: Simone Liedtke     23rd June 2021 Natural gas and helium producer Renergen has halted trading in its securities from June 23 to June 24 on the ASX, pending an announcement of the company entering a capital raise. Renergen is raising the proceeds for the completion of the Phase 2 studies of the Virginia gas project, and building... 

South Sudan launches country’s first oil licensing round

By: Simone Liedtke     23rd June 2021 The Republic of South Sudan’s Ministry of Petroleum (MoP) has launched the country’s first oil licensing round. The MoP has identified new exploration blocks with potential hydrocarbons and has compiled crucial data to provide to interested investors, operators and counterparties. 

South Sudan launches country’s first oil licensing round

Petro makes progress with Block XX exploitation licence application

By: Tasneem Bulbulia     22nd June 2021 During the course of 2020, Aim-listed Mongolian oil company Petro Matad focused on progressing the Block XX exploitation licence application, working closely with the relevant Mongolian government authorities, it noted in its financial results statement for the year ended December 31, 2020. The... 

Renergen discovers 1.1% helium concentration at Evander prospect

By: Simone Liedtke     21st June 2021 Natural gas and helium producer Renergen has discovered helium at its Evander exploration rights prospect, with a concentration of 1.1% helium identified in the gas. Evander spans about 52 000 ha, with many abandoned holes drilled for coal and gold exploration. Evander is also conveniently... 

Fishermen, oyster farmers fear power-generating ship will kill business

By: Reuters     18th June 2021 A floating gas-turbine generator meant to alleviate South Africa's crippling power cuts has run into objections by oyster farmers and small-scale fishermen, who fear the environmental damage will destroy their livelihoods. The seafood sellers fear the 415 MW ship - to be moored for two decades at... 

Renergen intersects gas-bearing fracture system at Virginia project

By: Simone Liedtke     18th June 2021 The target gas-bearing fracture system has been intersected close to prognosis at natural gas producers Renergen’s R2D2 well between wells MDR5 and HR1, which are located at the Virginia gas plant, in the Free State. Renergen said on June 18 that gas samples would be collected and sent to the... 

Emergency power fiasco compounds South Africa’s energy crisis

By: Bloomberg     17th June 2021 The debacle surrounding South Africa’s bid to secure emergency power supplies has highlighted a dysfunctional energy policy that’s subjecting Africa’s most-industrialized nation to intermittent blackouts. Since March, the energy department has identified companies it wants to provide almost 2 000... 

Big oil must work harder to slash Africa emissions, WoodMac says

By: Bloomberg     15th June 2021 Oil majors need to curb emissions in sub-Saharan Africa -- where almost half of their most polluting assets are located -- as investors demand greater efforts to slash carbon output, according to Wood Mackenzie. Crucially, the companies must reduce gas flaring -- the process of burning off gas... 

Nigeria’s cratering economy may become Africa’s biggest threat

By: Bloomberg     15th June 2021 If there was ever a time Nigeria could have taken off, it was in 1999. Democracy had been restored, with its economy reopening after decades of mismanagement and plunder under military dictatorships. Tomi Davies, a systems analyst, was one of thousands of Nigerians who came home to help rebuild... 

Water department extends comment period for unconventional gas regulations

By: Donna Slater     14th June 2021 The Department of Water and Sanitation (DWS) has extended the period available for the public and key sector stakeholders to comment on the unconventional gas regulations, as published in government notice 406 in Government Gazette 44545 in May, by 60 days. This follows after stakeholders... 

Sasol receives tribunal’s go-ahead for ASUs sale

By: Marleny Arnoldi     14th June 2021 The Competition Tribunal has approved JSE-listed petrochemicals group Sasol’s intended sale of 16 air separation units (ASUs), in Secunda, to Air Liquide Large Industries South Africa, which designed and installed the plants alongside Sasol over the years. The tribunal had carefully considered... 

Fluor repositions South African unit to support energy transition drive 

By: Terence Creamer     14th June 2021 Global engineering and construction company Fluor, which has been closely associated with South Africa’s liquid fuels and chemicals industries since the 1960s, has restructured its South African operations to align with the unfolding transitions under way in the energy and mining sectors. Fluor... 

Fluor South Africa GM Bill Langenbach
Fluor South Africa GM Bill Langenbach

LPG expected to fill Africa’s energy demand gaps in a renewable future

By: Simone Liedtke     11th June 2021 With the world increasingly becoming focused on decarbonisation, World Liquefied Petroleum Gas (LPG) Association chairperson Christoph Reimnitz says the African continent’s decarbonisation journey cannot be compared with that of all other countries. He explains that while most countries in the... 

Investors with $41tr ask G7 to stop subsidising fossil fuels

By: Bloomberg     10th June 2021 A coalition of investors overseeing a combined $41-trillion of assets have called on world leaders to set more ambitious greenhouse-gas emissions targets and end support for fossil fuels. DWS Group, Legal and General Investment Management and Pacific Investment Management Co were among 457... 

Sasol enhances FY22 oil hedging programme

By: Marleny Arnoldi     9th June 2021 JSE-listed petrochemicals giant Sasol says its oil hedge restructuring is progressing well. The company says it has made significant progress in deleveraging its balance sheet following a strong operating performance in a more supportive macroeconomic environment, continuing cash conservation... 

Gas a bridge for South Africa to become a low-carbon economy

By: Simone Liedtke     8th June 2021 South Africa will need to use gas as a “very solid bridge” to ensure a just and inclusive transition to a low-carbon economy, University of the Witwatersrand (Wits) Business School professor Maurice Radebe has said. The feedstock's acting as a bridge, he explained during a presentation at the... 

Renewables to take lion’s share of energy investment in 2021, but still falling short of net-zero goal

By: Terence Creamer     2nd June 2021 Renewables projects are expected to account for 70% of a record $820-billion in new power generation investment in 2021, as global electricity deployments exceed those of oil and gas for the sixth year in a row. Nevertheless, a new International Energy Agency (IEA) report warns that energy... 

Renewables to take lion’s share of energy investment in 2021, but still falling short of net-zero goal

Renergen on ‘much stronger footing’, despite Covid-19 headwinds

By: Simone Liedtke     31st May 2021 With the financial year, ended February 28, having been an “exciting” one for natural gas producer Renergen, the company believes it is on a “much stronger footing” towards becoming a significant helium and liquefied natural gas (LNG) producer, despite headwinds presented by the Covid-19... 

Opinion: Navigating 4IR in the sub-Saharan African energy industry

26th May 2021 In this opinion piece, Wits Business School head and director Professor Maurice Radebe writes about the Fourth Industrial Revolution (4IR) and its impact on the energy industry in sub-Saharan Africa.   The hype surrounding the Fourth Industrial Revolution (4IR) is ongoing, and even gathering... 

Wits Business School head and director Professor Maurice Radebe
Wits Business School head and director Professor Maurice Radebe
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