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Oil & Gas News

Nigeria's Oando aims to raise fresh capital, cut debt – CEO

By: Reuters     3rd April 2019 Nigerian oil company Oando aims to raise fresh capital over the next two years and repay debt used to acquire Conoco Phillips' Nigerian assets, its chief executive Adewale Tinubu told Reuters. Oando has transformed itself in the past few years from a fuel retailer to oil producer and now competes... 

Exxon weighs sale of Nigerian oil and gas fields for up to $3bn

By: Reuters     2nd April 2019 Exxon Mobil recently held talks on the sale of a suite of oil and gas fields in Nigeria as the company focuses on new developments in US shale and Guyana, industry and banking sources told Reuters. The potential disposals are expected to include stakes in onshore and offshore fields and could... 

$30bn investment push into Africa’s downstream oil industry sparks optimism

By: Kim Cloete     28th March 2019 Africa’s demand for energy, which is far higher than that of other regions in the world, is expected to be very positive for the African oil downstream industry, which has seen a $30-billion investment push in logistics, distribution, storage terminals, import facilities and retail marketing in... 

Radebe refutes allegations on South Sudan refinery 

By: African News Agency      28th March 2019 Energy Minister Jeff Radebe said on Thursday his plans for potential South African involvement in an oil venture in South Sudan were above board and aimed at securing access to cheaper crude oil and curbing the local fuel price. "As government we would want to get to a situation in which the... 

 Radebe refutes allegations on South Sudan refinery
Energy Minister Jeff Radebe

Vitol analyst explains slide in global oil demand

By: Kim Cloete     27th March 2019 Global oil demand has weakened significantly over the past few months, largely due to slowing economic momentum across most markets, says energy and commodities company Vitol analyst Simon Warren. He told delegates at the annual conference of the African Refiners and Distributors Association... 

Global emissions hit record as energy demand boosts fuel use  

By: Bloomberg     26th March 2019 Carbon emissions from fossil-fuel use hit a record last year after energy demand grew at its fastest pace in a decade, reflecting higher oil consumption in the US and more coal burning in China and India. Those findings from the International Energy Agency mark a setback for the effort to rein in... 

Drilling oil in one of fastest ocean currents tests Total

By: Bloomberg     26th March 2019 Total’s discovery of South Africa’s first oil in deep water could prove to be a bonanza for a country lacking crude reserves of its own and prompt a rush from other majors. That’s if they’re able to solve the engineering challenges of operating in one of the fastest ocean currents in the world.... 

Drilling oil in one of fastest ocean currents tests Total

African Energy Chamber calls for oil and gas industry collaboration

By: African News Agency      21st March 2019 The chief executive and chairman of the African Energy Chamber (EnergyChamber.org), NJ Ayuk, has called for more industry collaboration on key issues pertaining to Nigeria’s oil and gas industry. Ayuk made the call for strengthened cooperation as he led an industry delegation to Nigeria this... 

Rovuma could propel Mozambique to top LNG producer globally – Standard Bank

By: Marleny Arnoldi     20th March 2019 An independent macroeconomic study undertaken by Standard Bank has found that the first phase of Area 4 concession’s Rovuma liquefied natural gas (LNG) project, in Mozambique, has the potential to deliver 15.2-million tonnes of LNG a year. The project is expected to attract between $27-billion... 

Rovuma could propel Mozambique to top LNG producer globally – Standard Bank
Standard Bank Southern Africa oil and gas head Paul Eardley-Taylor

Novo Energy launches R130m gas compression facility 

20th March 2019 Energy solutions company Novo Energy earlier this month launched a R130-million large-scale natural gas compression facility, in Mpumalanga. Marleny Arnoldi tells us more. 

Novo Energy launches R130m gas compression facility
Novo Energy launches R130m gas compression facility

Public-Private Growth Initiative identifies 18 ‘priority projects’ to unlock growth  

By: Terence Creamer     18th March 2019 The Public-Private Growth Initiative (PPGI), an evolving sector-based collaboration between government and business, has earmarked 18 projects across various sectors of the South African economy for priority implementation in the coming months. Minister in the Presidency Dr Nkosazana Dlamini-Zuma... 

Public-Private Growth Initiative identifies 18 ‘priority projects’ to unlock growth
Minister in The Presidency Dr Nkosazana Dlamini-Zuma speaks, while Dr Johan van Zyl, Mpumi Mpofu and Roelf Meyer listen

Opec+ affirms commitment to oil cuts, defers decision to extend

By: Bloomberg     18th March 2019 Saudi Arabia led fellow members of the Opec+ coalition to reaffirm their commitment to output cuts, but conceded they should defer until June the decision on whether to extend the curbs. A committee of the most influential members in the 24-nation alliance, which includes Russia, Iraq and the... 

Tribunal approves Glencore, Chevron merger, with conditions

By: Marleny Arnoldi     15th March 2019 The Competition Tribunal on Friday approved a merger involving Glencore South Africa Oil Investment (Glencore SA Oil) and Chevron South Africa (Chevron SA). The transaction involves Glencore SA Oil acquiring 75% of the issued share capital of Chevron SA, from Off The Shelf Investments.  

Egyptian business giving great importance to South Africa

By: Rebecca Campbell     15th March 2019 The Federation of Egyptian Industries (FEI) was in full support of the policy of Egyptian President Abdel Fattah el-Sisi to strengthen the country’s relations with the rest of Africa. “As a business community, we will endorse our Government’s role in Africa,” affirmed FEI African Cooperation... 

Egyptian business giving great importance to South Africa
Photo by Egyptian Petrochemical Company
An Egyptian petrochemical plant

Africa needs to embrace all forms of energy, says Van Loggerenberg

By: Mamaili Mamaila     15th March 2019 There is huge demand for electricity in Africa, with about 600-million people on the continent who have no access to electricity. 

Africa needs to embrace all forms of energy, says Van Loggerenberg
MARLEZE VAN LOGGERENBERG We need to embrace LNG as one of the renewables that can make a difference globally

'No tomorrow' for many unless consumption falls – UN

By: Reuters     13th March 2019 Global exploitation of natural resources – from water, sand and timber to oil, coal and gemstones – has more than tripled in 50 years, the United Nations (UN) said on Tuesday, warning of devastating environmental impacts unless demand is reduced. Surging consumption of natural resources –... 

CEF's challenges exposed in Parliament 

By: Kim Cloete     12th March 2019 Parliament’s Portfolio Committee on Energy has accused the Central Energy Fund (CEF) of moving far too slowly to transform, following a litany of problems in the beleaguered group. Committee chairperson Fikile Majola on Tuessday accused the CEF management and board of directors of merely "marking... 

Transnet to raise pipeline tariff by 10.95%

By: Simone Liedtke     11th March 2019 The National Energy Regulator of South Africa has granted freight logistics group Transnet a 7.69% increase in its allowable revenue to R5.68-billion for 2019/20, which translates to a 10.95% increase in pipeline tariffs. Should Energy Minister Jeff Radebe decide to use the pipeline tariff as a... 

Petrochemicals and jet fuel to underpin oil growth as gasoline slows 

By: Terence Creamer     11th March 2019 Petrochemicals and jet fuel have emerged as key drivers of oil growth, with the International Energy Agency’s (IEA’s) latest market forecast indicating that the two sectors will account for more that 30% of global growth in the coming five years, as gasoline demand slows as a result of efficiency... 

Petrochemicals and jet fuel to underpin oil growth as gasoline slows

Novo Energy launches R130m gas compression facility in eMalahleni  

By: Marleny Arnoldi     8th March 2019 Energy solutions company Novo Energy on Friday launched a R130-million large-scale natural gas compression facility at the Highveld industrial park, in eMalahleni, Mpumalanga. The facility provides cleaner, more reliable and cost-effective energy, compared with coal and other petroleum products. 

Novo Energy launches R130m gas compression facility in eMalahleni

Energy outlook sees GDP doubling by 2040

8th March 2019 With the world’s gross domestic product (GDP) likely to double by 2040 driven by increasing prosperity in fast-growing developing economies, multinational oil and gas company BP states that in the evolving energy transition scenario, this improvement in living standards causes energy demand to... 

Waipec focuses more on sub-Saharan Africa

By: Thabi Madiba     8th March 2019 The third West African International Petroleum Exhibition and Conference (Waipec) was a success, bringing sub-Saharan African companies together to learn from one another about best practices to move the industry forward and how to survive in the competitive landscape, says Petroleum Technology... 

Waipec focuses more  on sub-Saharan Africa
BANK ANTHONY OKOROAFOR Gas should be an opportunity to create a viable economy and a vibrant way of growing Nigeria’s gross domestic product

Companies sign share purchase agreement worth $350-million

8th March 2019 Energy producer Chevron, a wholly-owned subsidiary of Chevron Corporation, has announced that it has signed a share purchase agreement with petroleum products marketer and refiner Petrobras America (Petrobras) to acquire all the outstanding shares and equity interests of refinery company Pasadena... 

Companies sign share purchase agreement  worth $350-million
CHEVRON OIL REFINERY A refinery with a capacity to process about 110 000 bbl/d of light crude

Gas discovery potential indicator of more local resources

By: Thabi Madiba     8th March 2019 A significant gas condensate discovery, made by petroleum company Total South Africa, shows there are potentially more petroleum resources available in South Africa, which will definitely create more exploration interest, says Total South Africa exploration and production MD Adewale Fayemi. This... 

Gas discovery potential indicator of more local resources
GAME CHANGER Brulpadda was drilled in a challenging deep-water environment

Congo lost $617m dispute before approving oil concession

By: Bloomberg     7th March 2019 An international court ordered the Democratic Republic of Congo to pay DIG Oil of South Africa $617-million for failing to honor two oil contracts, weeks before outgoing President Joseph Kabila finally approved one of the deals. The previously undisclosed ruling is the latest twist in an 11-year... 

Chemicals sector crucial for South Africa's industrialisation

By: Schalk Burger     6th March 2019 As one of 18 sectors identified by a Presidential working group as being crucial to accelerating gross domestic product (GDP) growth in South Africa, the chemicals sector has a foundational role to play in supporting the growth of the country's industrial sectors. The chemicals sector has a 12... 

Afrox FY18 HEPS fall amid adverse operating environment 

By: Simone Liedtke     6th March 2019 Adverse movements in JSE-listed African Oxygen’s (Afrox’s) operating environment resulted in the company’s headline earnings per share (HEPS) for the year ended December 31, 2018, decreasing by 23% year-on-year to 154.9c. Basic earnings per share (EPS) decreased by 29% to 144.8c, while diluted... 

Afrox FY18 HEPS fall amid adverse operating environment
Afrox CFO Matthias Vogt speaks to Engineering News Online about the company's results and challenges for FY18. Video & Editing: Creamer Media's Nicholas Boyd.

Afrox appoints John Panikar as chairperson

By: Simone Liedtke     5th March 2019 JSE-listed African Oxygen (Afrox) chairperson Bernd Eulitz has resigned, with effect from April 1. John Panikar will assume the role of chairperson of the board and member of the Nominations, Governance and Management of Resources Committee, following Eulitz’s resignation. 

Libya's biggest oilfield restarts, adding hurdle to Opec cuts

By: Bloomberg     5th March 2019 Libya’s biggest oil field resumed production, adding another complication to Opec’s effort to trim a global supply glut.  Sharara resumed production and is expected to reach 80,000 barrels in one day, according to people with knowledge of the matter who asked not to be identified because they... 

Renergen announces increased methane, helium reserves at Tetra4 

By: Simone Liedtke     4th March 2019 Integrated alternative and renewable energy business Renergen’s subsidiary, Tetra4, now has a total proven methane net gas reserve of 40.76-billion cubic feet and a proven helium net gas reserve of 1.01-billion cubic feet, following an updated independent reserve review undertaken by MHA... 

Dutch prosecutors target Shell over Nigeria oil deal

By: Reuters     1st March 2019 Dutch prosecutors are preparing criminal charges against Royal Dutch Shell over its $1.3-billion acquisition of Nigerian offshore oilfield OPL 245 in 2011. Shell said in a statement on its website that it had been informed by the Dutch Public Prosecutor's Office (DPP) that it had nearly concluded... 

Total to resume drilling at South Africa discovery in December – partner

By: Reuters     28th February 2019 France's Total and partners will resume drilling at the Brulpadda prospect offshore South Africa in December, a minority partner in the field said on Wednesday. Brulpadda, in Block 11B/12B, is a gas condensate discovery that could hold total resources of 1 billion barrels of oil equivalent, Total... 

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... 

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