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Oil & Gas News

Insufficient customer commitment stalls liquid bulk terminal project

By: Irma Venter     27th February 2020 The development of the liquid bulk terminal in the Port of Ngqura, in the Eastern Cape, has been halted, says Oiltanking Grindrod Calulo (OTGC). OTGC is a joint venture (JV) between operating partner Oiltanking, a German multinational that is one of the largest independent operators of tank... 

Coronavirus to tip oil and gas prices – Woodmac 

27th February 2020 The Coronavirus, which has caused nearly 2 800 deaths world-wide, was likely to have a bigger impact on prevailing oil and gas prices than on project construction, industry analyst Wood Mackenzie (Woodmac) said on Thursday. Manufacturing shutdowns and shipping bottlenecks were causing project... 

Sasol confirms making 600 MW own-gen proposal in response to DMRE RFI   

By: Terence Creamer     24th February 2020 Sasol CEO Fleetwood Grobler confirmed on Monday that the energy and chemicals group made a submission to the Department of Mineral Resources and Energy in line with its request for information (RFI) on possible emergency electricity solutions that could be “grid-connected in the shortest time at... 

Sasol confirms making 600 MW own-gen proposal in response to DMRE RFI
Sasol CEO Fleetwood Grobler on the need for a culture change at the company following major cost overruns at its US project. Camera Work: Kutlwano Matlala. Editing: Nicholas Boyd. Recorded: 24.2.2020

Sasol pulls back on capex as it seeks to deleverage from ‘peak gearing’  

By: Terence Creamer     24th February 2020 Energy and chemicals group Sasol has indicated that its capital expenditure (capex) will continue to taper during its 2020 and 2021 financial years as the group seeks to deleverage a balance sheet that reached “peak gearing” of close to 65% in the six months to December 31, 2019. Sasol’s gearing... 

Sasol pulls back on capex as it seeks to deleverage from ‘peak gearing’
Sasol CFO Paul Victor on how capex will be tapered as it seeks to navigate its 'peak gearing' phase. Camera Work: Kutlwano Matlala. Editing: Nicholas Boyd. Recorded: 24.2.2020

Even without a case, Africa may be a big victim of coronavirus

By: Bloomberg     24th February 2020 Even without a single confirmed case, sub-Saharan Africa may be the region hardest hit outside of Asia by the spread of the coronavirus. The outbreak has shut down entire swathes of the Chinese economy, threatening world economic growth and curbing appetite for oil and metals that are the... 

New energy paradigm can drive Africa’s development

By: Schalk Burger     21st February 2020 Africa can meet its major sustainable energy and development goals without becoming more energy intensive, as it has a unique opportunity to use renewable energy, natural gas and energy efficiency to meet its development needs and provide reliable and modern energy services. This is the... 

New energy paradigm can drive Africa’s development

Mboweni moots referendum on rescuing State-owned companies on Twitter

By: African News Agency      17th February 2020 After a short hiatus from Twitter, Finance Minister Tito Mboweni is once again posting prolifically, using the platform at the weekend to call for a public debate, possibly a referendum, on the use of taxpayers' money to bail out failing State-owned enterprises. "We must develop a democratic... 

Mboweni moots referendum on rescuing State-owned companies on Twitter
Finance Minister Tito Mboweni

Arbitrator backs Woodside in Senegal tussle

By: Esmarie Iannucci     14th February 2020 The International Arbitration Court has backed oil and gas major Woodside in a dispute with fellow listed FAR. Woodside and FAR are joint venture (JV) partners in the Sangomar field development, offshore Senegal.  

Arbitrator backs Woodside in Senegal tussle

IEA sees first global oil demand drop in a decade on coronavirus

By: Bloomberg     13th February 2020 Global oil demand will drop this quarter for the first time in over a decade as the coronavirus batters China’s economy, the International Energy Agency said. The new estimates show that oil markets face a significant surplus despite the latest production cuts by OPEC and its partners. Crude... 

Total chief dismisses Tullow Oil takeover idea

By: Reuters     12th February 2020 Total chief Patrick Pouyanne dismissed the idea it might buy its partner in East Africa and Guyana, Tullow Oil, whose share price slumped to 19-year lows in December over a string of bad news, stoking takeover speculation. Total is a partner in all growth markets for Tullow Oil whose market... 

World emissions kept in check as rich nations kick coal habit

By: Bloomberg     11th February 2020 Global emissions from energy held steady in 2019 for the first time in three years as developed nations continued to move away from coal power and toward renewable energy and natural gas. Even as the world economy grew, energy-related carbon dioxide emissions remained at 33.3-billion tons.... 

Nigeria's petroleum bill to be passed by mid-2020, says oil minister

By: Reuters     11th February 2020 Nigeria's oil ministry will send a new Petroleum Industry Bill to parliament next week, aiming to pass it into law by mid-2020, Minister of Petroleum Timipre Sylva said on Monday, hoping to end years of delay that have hampered investment. For nearly two decades, the bill has seen various... 

Astron’s Milnerton refinery meets deadline for producing very low-sulphur fuel oil

By: Marleny Arnoldi     10th February 2020 Energy company Astron Energy’s refinery has been successfully supplying ships in the ports of Cape Town and Richards Bay with low-sulphur fuel oil for the last month. The oil meets the stringent new International Maritime Organisation regulations, which had to be met by refineries globally by... 

Astron’s Milnerton refinery meets deadline for producing very low-sulphur fuel oil
Port of Cape Town

Oil hovers near $50 on signs Opec+ virus action not imminent

By: Bloomberg     10th February 2020 Oil hovered around $50 a barrel on signs an extraordinary Opec+ meeting to decide on further production cuts to deal with the demand hit from the coronavirus is looking less likely. Ministers from the group and its allies are unlikely to hold an early meeting this month, while one planned for... 

Opec may meet sooner as coronavirus puts oil demand at risk

By: Bloomberg     30th January 2020 The Organisation of Petroleum Exporting Countries (Opec) is considering pushing forward a meeting initially scheduled for March, according to Algeria’s energy minister, after oil prices slumped on concern that the spread of coronavirus would hurt oil demand. Mohamed Arkab said the producer... 

Most commodity prices on the rise amid increasing demand, risk appetite

By: Marleny Arnoldi     27th January 2020 The past month has seen a rally in many parts of the commodities complex, owing to the signing of the first phase of a trade deal between China and the US boosting equity markets and risk appetites, states analytics and forecasting organisation Oxford Economics. In its latest commodity price... 

Most commodity prices on the rise amid increasing demand, risk appetite

Angola closes in on Africa’s richest woman with Sonangol inquiry

By: Bloomberg     23rd January 2020 Isabel dos Santos has been named as a suspect in an investigation over alleged mismanagement during her time as chairwoman of Sonangol, Angola’s State oil company, a position she was appointed to by her father, ex-President Jose Eduardo dos Santos. Four others were also named on state TV late... 

Globeleq’s Azito plant reaches financial close for 253 MW expansion

By: Tasneem Bulbulia     22nd January 2020 Independent power producer Globeleq and IPS, a company owned by the Aga Khan Fund for Economic Development, have announced that their subsidiary, Azito Energie, has reached financial close on the 253 MW expansion of the existing Azito gas-fired power plant near Abidjan, in Côte d’Ivoire. The... 

Globeleq’s Azito plant reaches financial close for 253 MW expansion
Azito

BP, Angola agree deal to explore oil offshore

By: Reuters     22nd January 2020 BP signed an agreement with Angola aimed at acquiring oil further exploration rights, state news agency Angop reported, the latest in a flurry of agreements between oil majors and Africa's second biggest exporter. The deal with country's petroleum regulator ANPG defines the terms for a... 

PetroSA appoints new CEO

By: Creamer Media Reporter      22nd January 2020 Pragasen Naidoo has been appointed CEO of national oil company PetroSA. His appointment is effective from January 17, subject to a transitional arrangement with the Central Energy Fund (CEF), a holding company of PetroSA. 

Virginia project’s appraisal programme to spud ahead of schedule – Renergen

By: Simone Liedtke     21st January 2020 Emerging domestic natural gas and helium producer Renergen expects the appraisal programme for its Virginia gas project, in the Free State, to spud ahead of schedule during the first week of February. The dual-listed company also advised that the first planned incline in Phase 1’s development had... 

Virginia project’s appraisal programme to spud ahead of schedule – Renergen
Photo by Creamer Media's Donna Slater
The drill site at Renergen's Virginia gas project

Total plans world’s deepest offshore well to stem Angola decline

By: Bloomberg     16th January 2020 Total will drill the world’s deepest offshore well in Angola, in waters more than two miles deep, as the African country works to reverse years of declining output. The well in Block 48 will be 228 m deeper than Total’s Raya-1 well in Uruguay, completed in 2016, according to contractor Maersk... 

Oilfields at heart of tax dispute to cost Uganda $5bn

By: Bloomberg     16th January 2020 Uganda expects the planned development of two oil fields to cost at least $5-billion, as the government seeks to resolve a tax dispute with the companies that own the sites and pave the way for increased infrastructure spending. That amount is part of the $15-billion to $20-billion that the East... 

Brazil's Petrobras closes $1.5bn deal to sell stake in African JV

By: Reuters     15th January 2020 Brazil's State-controlled oil company Petroleo Brasileiro (Petrobras) said on Tuesday it had ended its activities in Africa after closing the sale of a 50% stake in Petrobras Oil & Gas BV (PO&GBV), which holds some Nigerian oil assets. Petrobras, as the company is known locally, said in a filing... 

Lekoil slumps as alleged scam puts oilfield future at risk

By: Bloomberg     14th January 2020 Lekoil sank to a record low in London trading after falling victim to an alleged scam, leaving the future of a Nigerian oil project at risk. A loan deal struck earlier this month is no longer valid, the company said, alleging that individuals claiming to be from the Qatar Investment Authority... 

South Sudan plans environmental audit of oil fields in move to curb pollution

By: Reuters     10th January 2020 South Sudan is launching a tender for a comprehensive environmental audit of all its oil-producing fields in a bid to reduce pollution following years of neglect, the government said on Friday. Oil sales bring in almost all the revenue of the East African nation, which has boosted output to stand... 

Congo wants to sell Gertler’s oil blocks on Ugandan border

By: Bloomberg     9th January 2020 The Democratic Republic of Congo is forming a plan to take back two oil blocks from sanctioned Israeli billionaire Dan Gertler and sell them to another company. The Congolese government has talked to Tullow Oil about purchasing a stake in the Lake Albert licences along the country’s border with... 

South Africa should use all available energy resources, Minister says at coal event  

By: Simone Liedtke     17th December 2019 Secure and reliable energy supply is a catalyst for economic growth and development, especially within the South African context, says Mineral Resources and Energy Minister Gwede Mantashe, who highlights that an energy mix that uses all available resources is required to bring certainty to the... 

South Africa should use all available energy resources, Minister says at coal event
Mineral Resources and Energy Minister Gwede Mantashe

France's Total buys stakes in two Angola offshore oil blocks

By: Reuters     17th December 2019 Total said on Monday it had acquired interests in two new offshore licences in Angola with a view to developing a new production hub alongside the French oil major's partners. Wells drilled so far in the two blocks have produced four discoveries, Total said. It will pay Angolan state oil firm... 

Renergen’s Free State project shows ‘game changing’ potential for domestic power

By: Simone Liedtke     17th December 2019 Drilling at emerging natural gas and helium producer Renergen’s Virginia project, in the Free State, has progressed through the Karoo Supergroup and successfully intersected gas-charged sandstones and fractures, as was previously expected, the company reported on Monday. The gas was intersected... 

Renergen’s Free State project shows ‘game changing’ potential for domestic power
CEO Stefano Marani

Sasol willing to consider using ‘green hydrogen’ to produce lower-carbon fuels 

By: Terence Creamer     13th December 2019 South African energy and chemicals group Sasol, which is under increasing pressure to lower its carbon dioxide (CO2) emissions, has indicated a willingness to participate in demonstration projects aimed at deploying its Fischer-Tropsch assets in combination with ‘green hydrogen’, produced from... 

Sasol willing to consider using ‘green hydrogen’ to produce lower-carbon fuels

Project aims to create Africa’s helium hub 

By: Simone Liedtke     13th December 2019 Emerging natural gas producer Renergen marked the start of the pipeline construction at its flagship Virginia gas project, in the Free State, with a sod-turning ceremony, last month. Liquefied natural gas (LNG) and liquid helium production is expected by 2021, when Phase 1 of the project is... 

Project aims to create Africa’s helium hub
Renergen CEO Stefano Marani speaks to Engineering News about the company’s flagship Virginia gas project, and what this milestone means for the company

Britain's Tullow Oil shares plunge over 50% as CEO resigns

By: Reuters     9th December 2019 Tullow Oil shares more than halved on Monday as CEO Paul McDade stepped down and the energy company scrapped its dividend after failing to meet production targets due to weak performance by flagship assets in Ghana. The company has been plagued by technical problems at its Jubilee field in Ghana... 

Opec+ agrees to redistribute oil cuts under Saudi pressure

By: Bloomberg     6th December 2019 Opec+ will adjust its output target and redistribute production cuts between its members under pressure from Saudi Arabia, which has long carried an outsized share of the burden. The group, which pumps more than half the world’s oil, agreed in Vienna on Friday to reduce its output target by 500... 

Opec, allies prepare to deepen oil output cuts

By: Reuters     5th December 2019 Opec and its allies led by Russia were moving closer on Thursday to agreeing to deeper oil supply cuts next year to support crude prices and prevent a glut, sources from Opec and its allied producers said. The Organization of the Petroleum Exporting Countries (Opec) meets on Thursday in Vienna... 

Promoters of Maputo and Richards Bay LNG terminals insist projects can be complementary 

By: Terence Creamer     4th December 2019 The promoters of liquefied natural gas (LNG) import terminals at Maputo, in Mozambique, and Richards Bay, in South Africa, insist that the two proposed projects can be complimentary rather than competitive as there is sufficient existing demand and growth potential in the region to support both... 

Promoters of Maputo and Richards Bay LNG terminals insist projects can be complementary

Petredec adds Oilco business to its portfolio

By: Marleny Arnoldi     2nd December 2019 Energy distributor Petredec has acquired the wholesale and logistics divisions of independent Shell-branded fuels and lubricants distributor Oilco, which is based in KwaZulu-Natal. Oilco has several depot operations between Durban and Empangeni.  

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