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Oil & Gas News

LPG upcoming in SA’s energy mix

By: Theresa Bhowan 28th August 2020 Liquefied petroleum gas (LPG) has an important role to play in the complete energy mix of South Africa – it is a clean-burning, sustainable and portable fuel, with further applications in water heating, space heating and cooking, says industry association and body the Liquefied Petroleum Gas... →

LNG project should benefit SADC

28th August 2020 Untapped expertise in Southern Africa should benefit from the opportunities provided by the exploitation of the large liquefied natural gas (LNG) reserves discovered off the coast of northern Mozambique, says engineering, procurement and construction company Lesedi Nuclear Services project... →

IHS Markit says growth in world oil demand expected to plateau

By: Simone Liedtke 25th August 2020 London-based global information provider IHS Markit says the growth in global oil demand is expected to taper off, with global crude oil demand plateauing just below pre-pandemic levels. According to the company’s new analysis, global oil demand, currently at 89% of pre-Covid-19 levels and... →

Mauritius starts to scuttle Japanese oil-spill vessel

By: Reuters 21st August 2020 Mauritius said on Thursday it had started to scuttle the Japanese-owned bulk carrier that ran aground off its shores and spilled oil over pristine waters and fragile coral reefs. The MV Wakashio hit a coral reef off the Indian Ocean island on July 25 and began spilling oil on Aug. 6, prompting... →

Photo by Reuters
A part of the MV Wakashio

Greenpeace condemns exploitation of yet another fossil fuel in South Africa

By: Marleny Arnoldi 19th August 2020 Commenting on the arrival of Total’s oil and gas drill rig DeepSea Stavanger in Cape Town on August 12, environmental organisation Greenpeace Africa says the Department of Mineral Resources and Energy “needs to get its story straight”. “The claim is that the drilling aims to diversify South... →

Mauritius arrests captain of Japanese oil spill ship

By: Reuters 19th August 2020 Mauritius has arrested the captain of a Japanese bulk carrier that ran aground off its coast, causing a devastating oil spill in one of the world's most pristine maritime environments, police said on Tuesday. The MV Wakashio struck a coral reef off the Indian Ocean island on July 25 and began... →

Six months set aside for merger of CEF’s oil and gas subsidiaries into ‘Newco’

By: Terence Creamer 18th August 2020 The process of merging the State-owned entities of PetroSA, Igas and the Strategic Fuel Fund (SFF) into an “integrated national petroleum company” will formally begin on September 1, with six months having been set aside for the creation of a Newco that is “commercially viable”. All three... →

Photo by Creamer Media
The PetroSA GTL refinery in Mossel Bay

Sasol’s new-look strategy will seek to ‘reset’ group for low-carbon world

By: Terence Creamer 17th August 2020 Embattled chemicals and energy group Sasol aims to officially unveil its new-look strategy, dubbed Future Sasol, later this year. It has already indicated, however, that the plan will seek to reposition the 70-year-old company, built around a highly carbon-intensive technology that converts coal... →

Sasol will execute rights issue in 2021 calendar year as it refines ‘ticket size’

By: Terence Creamer 17th August 2020 Debt-laden chemicals and energy group Sasol confirmed on Monday that it was preparing to execute a rights issue during the second half of its 2021 financial year, despite reporting that it was on track to deliver disposals of greater than $2-billion and exceeding its initial cash conservation... →

Photo by Creamer Media's Donna Slater
Sasol CEO Fleetwood Grobler

Oil spill puts five-decade Mauritian fisher family in a bind

By: Bloomberg 17th August 2020 It may take a decade to restore a delicate ecosystem in Mauritius after a bulk carrier ran aground and spilled oil into the island nation’s pristine waters. Some fishermen fear they may never get their lives back. The vessel that left Mauritius almost helpless after it spilled 1 000 t of fuel oil... →

Japanese shipping company says Mauritius government has requested compensation

By: Reuters 14th August 2020 The Japanese shipping company that owns the bulk carrier that struck a coral reef off of Mauritius and leaked some 1 000 t of oil said the government of Mauritius had requested compensation. Nagashiki Shipping also said in a statement that the cause of the incident was still not known and would... →

SANEDI, MDA work together to support South African mineworkers

By: Simone Liedtke 13th August 2020 The South African National Energy Development Institute (SANEDI) and the Mineworkers Development Agency (MDA) have signed a partnership agreement that will result in them collaborating to bring relief to the country’s former mineworkers and their communities in the wake of mine closures and the... →

Total oil, gas drill rig arrives in Cape Town

By: Marleny Arnoldi 12th August 2020 Mineral Resources and Energy Minister Gwede Mantashe has welcomed the arrival of the DeepSea Stavanger oil and gas drill rig, in Cape Town, which has been commissioned by petrochemicals company Total. Total and its partners will drill the Luiperd prospect in Block 11B/12B off the Mossel Bay... →

Why so much world trade passes Mauritius’s pristine beaches

By: Bloomberg 12th August 2020 The bulk carrier Wakashio was 11 days into a month-long voyage to Brazil when it hit a reef off Mauritius causing it to spill fuel into the island’s crystal clear waters, endangering baby turtles and unique plants in a nearby nature reserve. Given the vastness of the Indian ocean, why was the... →

Sea life around Mauritius dying as Japanese tanker oil spill spreads

By: Reuters 12th August 2020 Mauritian volunteers fished dead eels from oily waters on Tuesday as they tried to clean up damage to the Indian Ocean island's most pristine beaches after a Japanese bulk carrier leaked an estimated 1 000 t of oil. The ship, MV Wakashio, owned by Nagashiki Shipping and operated by Mitsui OSK... →

Photo by Reuters
The MV Wakashio which struck a coral reef on Mauritius' southeast coast is leaking oil

Sasol warns of dramatic earnings collapse as it confirms R112bn impairment

By: Terence Creamer 11th August 2020 Chemicals and energy group Sasol warned of a dramatic collapse in its 2020 financial performance on Tuesday, confirming that losses for the period would represent a deterioration of more than 100% when compared with results reported for the 2019 financial year. The decline, the company told... →

DBSA gears up to fill Covid-induced municipal funding gaps

By: Terence Creamer 7th August 2020 Development Bank of Southern Africa (DBSA), which recently disbursed loans worth R4.5-billion to two Gauteng metropolitan councils to support ongoing infrastructure delivery amid coronavirus-induced liquidity constraints, reports that it is gearing up to support several other municipalities to... →

Mohan Vivekanandan

Reduced oil, oil product demand to last for six months – Absa

By: Simone Liedtke 4th August 2020 The current reduced demand for oil and refined products as a result of national lockdowns in South Africa and across sub-Sahara Africa could persist for at least six months, Absa Corporate and Investment Banking (CIB) natural resources head Shirley Webber says. She explains that national... →

Renergen spuds first well as expected

By: Simone Liedtke 3rd August 2020 The drill rig at emerging natural gas and helium producer Renergen’s Virginia gas project production hub, in the Free State, is preparing to spud the first well in the programme. The upcoming programme of inclined wells target the gas productive fracture systems at the project. →

Occidental discusses $4.5bn asset sale to Pertamina

By: Bloomberg 30th July 2020 Occidental Petroleum Corp is in talks about a potential sale of energy assets in Africa and the Middle East to Indonesia’s state-owned PT Pertamina, people with knowledge of the matter said. Pertamina is negotiating the acquisition of oil and gas stakes in countries including Ghana and the United... →

Sasol to sell world's biggest oxygen production site to Air Liquide

By: Marleny Arnoldi 29th July 2020 JSE-listed petrochemicals company Sasol has signed a negotiation agreement with industrial gas company Air Liquide for the sale of Sasol South Africa’s 16 air separation units (ASUs), in Secunda. The ASUs, with a 42 000 t/d capacity, provides oxygen for Sasol’s fuels and chemical production... →

Air seperation units at Sasol Secunda

Egyptian gas discovery supports Total exploration strategy

By: Schalk Burger 28th July 2020 Energy multinational Total has announced a gas discovery in shallow waters off the Egyptian coast that could deliver an estimated 100-million standard cubic feet of gas a day, as well as up to 800 barrels of condensate a day. "These results support our strategy to allocate a significant share of... →

Transnet Pipelines, law enforcement efforts yielding results

By: Tasneem Bulbulia 28th July 2020 Joint security efforts between Transnet Pipelines and law enforcement authorities continue to yield positive results with more fuel theft arrests, Transnet said in a statement on July 28. Three suspects were arrested in the Mpumalanga province at the weekend after being caught with R1.4-million... →

New coupling introduced to meet updated LPG tanker standard

24th July 2020 As per a Bulletin issued by the Liquefied Petroleum Gas Safety Association of Southern Africa (LPGSASA) and further legislated by the Department of Employment and Labour, Cam-and-Groove type Couplings are no longer permitted for use in gas tanker applications and should be replaced with a... →

Sapia welcomes energy budget speech

By: Tasneem Bulbulia 23rd July 2020 Industry organisation the South African Petroleum Industry Association (Sapia) has welcomed the Budget Vote speech delivered by Minister Mmamoloko Kubayi-Ngubane on behalf of Mineral Resources and Energy Minister Gwede Mantashe, earlier this week. The organisation is particularly pleased about... →

Mozambique's $20-billion LNG megaproject

23rd July 2020 Creamer Media's Chanel de Bruyn speaks to Creamer Media Editor Terence Creamer about the debt financing secured for a $20-billion LNG megaproject in Mozambique and the risks and opportunities this holds for Mozambique and South Africa, →

Mozambique's $20-billion LNG megaproject

Green Connection welcomes extended period to comment on Total scoping report

By: Marleny Arnoldi 22nd July 2020 Environmental consultancy SLR Consulting, on behalf of Total Exploration & Production South Africa, has granted respondents 30 additional days to comment on the company’s draft scoping report for further oil exploration and drilling in blocks 11B and 12B, along the Southern Cape coast. The... →

AfDB says $400m loan for LNG project in line with Moz country strategy

By: Terence Creamer 21st July 2020 African Development Bank (AfDB) is the latest financial institution to confirm funding for the $20-billion Mozambique Liquefied Natural Gas (LNG) project, which is being developed by a Total-led consortium in northern Mozambique. In a statement, the development finance institution announced that... →

DBSA confirms financing of $120m for giant Mozambique LNG project

By: Terence Creamer 21st July 2020 South Africa’s State-owned Development Bank of Southern Africa (DBSA) has confirmed financing of $120-million for the $20-billion-plus liquefied natural gas (LNG) project being developed by a Total-led consortium in northern Mozambique. On July 17, Total announced the signing of a $14.9-billion... →

Renergen to host LNG auction

By: Marleny Arnoldi 20th July 2020 Emerging natural gas producer Renergen will host South Africa’s first-ever liquid natural gas (LNG) auction. The company has invited interested parties to apply to bid for the allocation of LNG, which will be produced at Renergen’s Virginia gas project, in the Free State. →

Drilling at Virginia Gas project

Standard Bank signs $485m financing deal for mega Mozambique gas project

By: Terence Creamer 17th July 2020 South African banking group Standard Bank confirmed on July 17 that it would contribute $485-million (over R8-billion) in debt finance to the $20-billion Mozambique Liquefied Natural Gas (LNG) project, being developed by a Total-led consortium in northern Mozambique. Standard Bank oil and gas... →

Virtual event to showcase opportunities arising from mega Moz gas projects

By: Terence Creamer 16th July 2020 A virtual event is being planned for early August to expose South African companies to the opportunities that are likely to arise directly from the mega-scale liquefied natural gas (LNG) projects that are starting to take shape in northern Mozambique, as well as various associated projects,... →

Energy projects in Africa remain challenging, but signs of hope emerging

By: Donna Slater 15th July 2020 Renewable energy projects in Africa will be significantly affected by the prevailing Covid-19 pandemic, resulting in construction site disruptions, delays and difficulties in getting equipment and components across borders which have different levels of restriction on the movement of people and... →

Powerships can help Eskom save R28bn a year, says Karpowership

By: Marleny Arnoldi 15th July 2020 The Council for Scientific and Industrial Research and the Department of Minerals and Energy have estimated that Stage 2 load-shedding costs the economy R150-million an hour. This is posing a threat to South Africa’s economic recovery from Covid-19 and it is critical to fast-track emergency... →

Renergen bringing LNG fuel alternative to South Africa

By: Simone Liedtke 15th July 2020 The current global recession is accelerating the transformation to cleaner energy sources and the use of liquefied natural gas (LNG) in transport owing to the need to reduce costs by as much as possible. Within this context, emerging natural gas and helium producer Renergen CEO Stefano Marani... →

Renergen CEO Stefano Marani gives some insight in to how accepting South Africa is of LNG, and whether or not there is an actual demand. Video: Creamer Media's Kutlwano Matlala. Editing: Creamer Media's Nicholas Boyd.

Opec+ oil tensions ease after Saudis speak to Iraq and Nigeria

By: Bloomberg 14th July 2020 Saudi Arabia commended Iraq for implementing almost all its pledged oil-production cuts and Nigeria told the kingdom it was committed to hitting its target, in further signs that disputes among Opec+ members over cheating of quotas are being resolved. Saudi Energy Minister Prince Abdulaziz Bin... →

IEA warns oil demand recovery at risk from virus resurgence

By: Bloomberg 10th July 2020 The International Energy Agency bolstered its outlook for global oil demand, but warned that the recovery could be derailed by the resurgence of coronavirus. A collapse in fuel consumption during the second quarter was slightly less severe than previously estimated, and demand should rebound... →

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