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Oil & Gas News

US government agency’s backing of Tetra4 takes project ‘to next level’ – Renergen CEO  

By: Simone Liedtke     27th February 2019 Integrated alternative and renewable energy business Renergen on Wednesday announced that the US government’s development finance institution, the Overseas Private Investment Corporation (OPIC), had approved a $40-million loan facility in favour of Tetra4’s Virginia gasfield project. Tetra4 is a... 

Sasol to accelerate portfolio ‘simplification’ as review of 100 assets nears completion  

By: Terence Creamer     25th February 2019 Chemicals and energy group Sasol confirmed on Monday that its asset review was at an advanced stage and indicated that it would, in the coming months, accelerate efforts to simplify its portfolio. The group has indicated previously that it expects to realise more than $1-billion from the disposal... 

Sasol to accelerate portfolio ‘simplification’ as review of 100 assets nears completion
Sasol joint CEO Bongani Nqwababa on why 2019 is a 'defining year' for the group. Camera Work & Editing: Darlene Creamer. Recorded: 25.2.2019

Water deal crucial for Kenya oil project might slip into Q3 – Tullow

By: Reuters     22nd February 2019 A deal with local Kenyan authorities that would allow Tullow Oil to pump water to pressurise oil wells, crucial for a final green light for the country's only oil project, may be delayed to the third quarter, a Tullow executive said on Friday. Tullow, with partners Total and Africa Oil, is... 

Construction gets under way at new Ngqura liquid bulk terminal

By: Tasneem Bulbulia     22nd February 2019 Oiltanking Grindrod Calulo (OTGC) and the Transnet National Ports Authority (TNPA) on Thursday turned the first sod at the site of the Port of Ngqura’s future liquid bulk tank farm and main access road. This comes ahead of the planned decommissioning and rehabilitation of the existing liquid bulk... 

Sasol appoints Ngonyama Capital as market maker for empowerment shares

By: Marleny Arnoldi     21st February 2019 Petrochemicals giant Sasol on Thursday announced the appointment of Ngonyama Capital to provide market making services for Sasol’s black economic empowerment ordinary (Solbe1) shares. Ngonyama’s appointment is expected to enhance the value proposition of Solbe1 shares and increase liquidity of... 

Nigeria hits oil majors with billions in back taxes 

By: Reuters     21st February 2019 Nigeria has ordered foreign oil and gas companies to pay nearly $20-billion in taxes it says are owed to local states, industry and government sources said, in a move that could deter investment in Africa's largest economy. In a letter sent to the companies earlier this year via a debt-collection... 

M&R expects significant improvement in interim HEPS

By: Nadine James     19th February 2019 JSE-listed engineering group Murray & Roberts (M&R) expects a significant improvement in total earnings per share (EPS) and headline earnings per share (HEPS) for the six months ended December 31. Basic EPS for the period are expected to increase by between 57% and 75% year-on-year to between 44c... 

Clough set to acquire Saulsbury’s oil and gas unit, EPC portfolio

By: Nadine James     19th February 2019 Murray & Roberts (M&R) subsidiary Clough will acquire Houston-based engineering, procurement and construction (EPC) contractor Saulsbury’s Gulf Coast downstream and chemical business unit, as well as its EPC portfolio, for $5.2-million.  In the statement issued on Tuesday, M&R CE Henry Laas... 

Africa must have clear plan for using its gas reserves

By: Marleny Arnoldi     18th February 2019 It is vital that Africa has a clear and cohesive vision in place for how it plans to use its gas reserves, says New Partnership for Africa's Development Business Foundation senior project manager John Rocha. Speaking at the Africa Gas Forum, on Monday, he pointed out that African countries have... 

Event set to dissect the future of African energy

By: Paige Müller     15th February 2019 The eleventh edition of the Africa Energy Indaba – which will take place at the Sandton Convention Centre, in Johannesburg, from February 19 to 20 this year – will focus on the future prospects and direction of energy on the African continent from an energy provision and investment point of view.... 

Event set to dissect the future of African energy
Photo by Duane Daws
AFRICA’S ENERGY FUTURE The Africa Energy Indaba will take place at the Sandton Convention Centre, in Johannesburg, from February 19 and 20 this year

Equatorial Guinea praised for improved business environment

15th February 2019 Continental industry association the African Energy Chamber welcomes the improvement of Equatorial Guinea’s business environment through the establishment of an all inclusive model for setting up businesses in the country. “The implementation of Equatorial Guinea’s one-stop shop allows companies... 

Equatorial Guinea  praised for improved  business environment
Photo by Bloomberg
OBIANG NGUEMA MBASOGO Obiang Nguema Mbasogo has been personally advocating for stronger reforms to Equatorial Guinea’s business environment over the past few years

What to expect from 2019 Africa Energy Indaba

15th February 2019 The Africa Energy Indaba Conference is the definitive energy conference for Africa providing an annual programme that shapes energy policy for the African continent. Key issues that impact the African energy sector will be discussed and debated at the event, based on the outcomes of the 2018... 

What to expect from 2019 Africa Energy Indaba
ADEQUATE GENERATION The Africa Energy Indaba Conference will discuss, debate and seek solutions to enable adequate energy generation across the continent.

Renewable grids present investment opportunity

By: Paige Müller     15th February 2019 The recent trend towards the development of renewable energy, including those based on smart grids and microgrids in Africa, has encouraged the establishment of a new renewable energy equity fund. With the Africa Energy Indaba set to take place from February 19 to 20 at the Sandton Convention... 

Renewable grids present investment opportunity
Photo by Bloomberg
GAS ON THE RISE There has been and increase in the development of gas-fired power stations throughout Africa

As renewables soar, BP sees China hitting brakes on energy growth

By: Reuters     14th February 2019 Global demand for renewable power will soar at an unprecedented pace over the coming decades, BP said in a benchmark report on Thursday, while China’s energy growth is seen sharply decelerating as its economic expansion slows. Still, China is set to remain the largest energy consumer by a long... 

Aker Energy eyes IPO after submitting Ghana oilfield plan in March

By: Reuters     14th February 2019 Norwegian oil company Aker said on Thursday that its exploration start-up in Ghana will submit development plans to Ghanaian authorities in March and the parent will then decide whether to sell stakes via an initial public offering or other means. The subsidiary, Aker Energy, plans to develop the... 

South Sudan to return to pre-war oil production levels by mid-2020 – Minister

By: Reuters     11th February 2019 South Sudan will return to producing more than 350 000 bbl/d of crude by the middle of 2020, up from current levels of just over 140 000 bbl/d currently, the country's oil minister said on Sunday. Production is expected to rise to 270 000 bbl/d by the end of 2019, Oil Minister Ezekiel Lul... 

Sasol expects higher H1 earnings, but warns of Lake Charles cost increase

By: Nadine James     8th February 2019 Chemicals and energy company Sasol expects to report earnings per share (EPS) and headline earnings per share (HEPS) of between R23.71 and R24.16 and between R22.97 and R23.68, respectively, for the six months ended December 31. This means EPS is expected to increase by between 110% and 114%... 

Reatile acquires 37.54% stake in Pragma Holdings

By: Tasneem Bulbulia     8th February 2019 Investment holding company Reatile Group has acquired a 37.54% stake in enterprise asset and facilities management company Pragma; thereby enhancing Pragma’s potential international growth, while accelerating the organisation’s transformation agenda. Pragma CEO and founder Adriaan Scheeres... 

Collaboration to ensure better understanding of emission standards

8th February 2019 Oils and lubricants company Shell collaborates with a number of original equipment manufacturer (OEM) transport operators to understand the future vision of emission standards set by the manufacturers and various legislation, as well as taking into consideration the challenges that transport... 

Collaboration to ensure better understanding of emission standards
FUEL ECONOMY The field trials showed that lubricant selection had a significant impact on fuel economy in real-world driving conditions.

Total makes significant discovery off South Africa’s southern coast

By: Nadine James     7th February 2019 Petroleum company Total has made a significant gas condensate discovery on the Brulpadda prospects, located on Block 11B/12B in the Outeniqua Basin, the company announced on Thursday. Located 175 km off the southern coast of South Africa, the Brulpadda well encountered 57 m of net gas condensate... 

Total makes significant discovery off South Africa’s southern coast
Photo by Odfjell
Brulpadda drilling rig

Energy megaprojects on South Africa's radar as utility falters

By: Bloomberg     5th February 2019 South Africa is looking to spend-billions of rand to secure energy from megaprojects on the continent at a time when state power utility Eskom is broke and struggling to supply enough electricity. The government has signaled a willingness to buy 5 000 MW of power from a planned $18-billion... 

Anadarko signs long-term deal with CNOOC for Mozambique gas

By: Reuters     1st February 2019 Anadarko Petroleum Corp said on Friday a long-term agreement had been signed with the trading division of China's state-owned offshore oil and gas producer CNOOC to supply liquefied natural gas (LNG) from Mozambique. The deal will bring it one step closer to making a final investment decision for... 

Buses using natural gas to curb fuel costs

By: Halima Frost     1st February 2019 Since the initial introduction of natural gas vehicles (NGV) in South Africa, natural gas supplier CNG Holdings has successfully converted about 180 dual-fuel compressed natural gas- (CNG-) run buses for the City of Johannesburg (CoJ). This makes Johannesburg one of the first cities in... 

Buses using natural gas to curb fuel costs
GAS, NATURALLY Natural gas had been selected as a fuel of choice for global bus companies

Biogas flowmeter introduced for variable compositions

1st February 2019 Industrial process instrumentation supplier Krohne announced the introduction of the new Optisonic 7300 Biogas ultrasonic flowmeter to the Southern African market in the last quarter of last year. The Optisonic 7300 Biogas is an ultrasonic flowmeter for low pressure biogas, landfill and sewage... 

Biogas flowmeter introduced for  variable compositions
GOING WITH THE FLOW The flowmeter is suited to biogas as well as landfill and sewage gas applications

Shut-off valves suitable for gas and oil fuel lines

By: Thabi Madiba     25th January 2019 Valves, steam and combustion system solutions provider, Heaton Valves Africa (HVA) says the German designed and manufactured Albrecht safety quick shut-off valves are suitable for use on gas and oil fuel lines for burners in the local market. “These valves carry all the relevant certification,... 

Steam Generation in talks to expand on boiler distribution

By: Thabi Madiba     25th January 2019 Heat and energy generation equipment provider Steam Generation Africa says it is in talks with a small- to mid-range biomass boiler manufacturer to distribute into the South African and African markets this year. Owing to biomass being readily available and the possibility to produce it as a... 

Steam Generation in talks to expand on boiler distribution
STEAM GENERATOR Each Cochran boiler features a robust design and construction, ensuring a long operational life and maximum efficiency

Africa's position as the world's hottest oil and gas frontier to be entrenched this year

By: African News Agency      22nd January 2019 The year ahead will be key for the advancement of new exploration and production development projects from West to East Africa in the hydrocarbons market, entrenching the continent’s position as the word’s hottest oil and gas frontier, the African Energy Chamber (AEC) has said. The year however... 

Afrox injects R150m into upgrading its facilities at State hospitals

By: Marleny Arnoldi     22nd January 2019 JSE-listed Afrox plans to invest more than R150-million at hospital sites in Mpumalanga, KwaZulu-Natal, the Free State and North West to upgrade the company’s service facilities, Afrox healthcare head Joseph Ramashala confirmed on Tuesday. This is part of the company’s investment strategy to... 

Afrox injects R150m into upgrading its facilities at State hospitals
Afrox bulk tank installation

To meet climate goals, world urged to reuse natural resources

By: Reuters     22nd January 2019 More of the billions of tonnes of materials the world uses each year must be recycled and reused to keep climate change in check, researchers said on Tuesday. Only about a tenth of the nearly 93 billion tonnes of materials utilised annually - including minerals, metals, fossil fuels and biomass -... 

Nigeria's State oil company seeks $4.1bn to lift output

By: Bloomberg     21st January 2019 Nigeria’s State-owned oil company said it’s in talks with financiers to raise as much as $4.1-billion and will seek to sign service deals to increase production from three leases. The Nigerian National Petroleum Corporation, or NNPC, is in discussions with Lagos-based Sterling Oil Exploration &... 

Location a key discussion point as Saudi Aramco mulls South African refinery investment

By: Terence Creamer     18th January 2019 “Location, location, location,” South Africa’s Minister Jeff Radebe quipped on Friday after a meeting with his Saudi counterpart, Khalid Al-Falih, where it was agreed that Saudi Aramco and the Central Energy Fund (CEF) would jointly study a plan for a new oil refinery and petrochemical investment... 

Location a key discussion point as Saudi Aramco mulls South African refinery investment
Kingdom of Saudi Arabia’s Energy, Industry and Mineral Resources Minister Khalid Al-Falih with South Africa's Energy Minister Jeff Radebe

IEA sees oil demand growth defying economic slowdown for now

By: Bloomberg     18th January 2019 Global oil demand remains on course to be stronger this year than in 2018 as a boost from lower fuel prices counters slowing economic activity, according to the International Energy Agency. “We have seen prices fall very significantly since the peak at the beginning of October, and that is... 

Roadshow highlights motion control products to industry

By: Halima Frost     18th January 2019 Electrical solutions provider Magnet Group hosted a roadshow with about five of power management company Eaton’s technicians in October to highlight Eaton’s DILM range of contractors, circuit breakers and overload relays to Magnet clients and end-users. The roadshow, which visited the Durban,... 

Roadshow highlights motion  control products to industry
ON SHOW The DILM Range was highlighted at the recent roadshows held by Magnet

Tullow Oil hit by payment delay, but sees higher output

By: Reuters     16th January 2019 A delay in receiving payment from the sale of a stake in Ugandan oilfields caused Tullow Oil to miss cash flow and debt forecasts on Wednesday, although the firm said it expected to receive the money soon and also forecast higher production. The Africa-focused company said it expected production... 

Talks under way to build new gas pipeline to Egypt, Israel says

By: Bloomberg     16th January 2019 Talks are in progress to build a new underwater gas pipeline between Israel and Egypt, part of efforts to transform the eastern Mediterranean into an energy export hub on Europe’s doorstep, Israeli Energy Minister Yuval Steinitz said. Israeli gas stocks rose. Construction could begin as early as... 

Mnangagwa seeks cash in Russia as Zimbabwe descends into chaos

By: Bloomberg     15th January 2019 Zimbabwean President Emmerson Mnangagwa said he’s seeking loans from Russia on a visit to Moscow as protests erupted across his country Monday, leaving 24 people injured and five possibly dead. “I can’t say that we want this much or that much,” he said in an interview with the state-run Russian... 

Opec+ plans review in Baku in March, Ministers' Meeting in April

By: Bloomberg     15th January 2019 Opec and its allies plan to hold a meeting in March to assess their oil-production accord in Azerbaijan, and then ministers will gather to set policy in April, according to the organization’s top official. The body that reviews the implementation of Opec’s supply cuts, the Joint Ministerial... 

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