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Refineries & Retail News

Nigeria has no intention of cutting fuel subsidy at this time

By: Reuters     Updated 3 hours ago Nigeria has no intention of removing subsidies on petroleum products, its finance minister said on Wednesday after the International Monetary Fund (IMF) advised the country to eliminate them to protect public finances. Africa's top oil producer and biggest economy heavily subsidises gasoline and... 

Fuel price cap still being investigated, energy department says 

By: News24Wire      17th April 2019 The Department of Energy is still researching the feasibility of implementing a fuel price cap, and the outcome will be announced in due course, a spokesperson said on Wednesday. The possibility of a hard price ceiling on 93 unleaded fuel was mooted by Energy Minister Jeff Radebe in mid-October... 

Fuel price cap still being investigated, energy department says

Sapref’s new R50m reactor to enable better low-sulphur diesel production

By: Nadine James     17th April 2019 The South African Petroleum Refinery’s (Sapref’s) new R50-million reactor arrived at the Durban port earlier this week. The 242 t, 31-m-long reactor will enable Sapref, which is a joint venture between Shell Refining South Africa and BP Southern Africa, to produce “better, low-sulphur diesel”,... 

Sapref’s new R50m reactor to enable better low-sulphur diesel production
UMKHOMA REACTOR

Mantashe urges continued investment in clean coal tech  

By: Tasneem Bulbulia     12th April 2019 Mineral Resources Minister Gwede Mantashe on Friday commended Sasol for the “good work” it was doing and the opening of its new Impumelelo Colliery. He said it was notable that the opening of the mine came at a time when coal is under siege and that it should counter the narrative that coal is... 

Mantashe urges continued investment in clean coal tech
Sasol executive director and joint president and CEO Stephen Cornell provides details of the new Impumelelo colliery. Video and editing: Nicholas Boyd.

Sasol names Sipho Nkosi as next chairperson

By: Bloomberg     11th April 2019 Sasol appointed Sipho Nkosi to its board and said the former coal-industry executive will become chairperson in November when Dr Mandla Gantsho steps down. The change of leadership comes during a vital year for Sasol, as the South African fuel and chemical manufacturer nears completion on its... 

Sasol names Sipho Nkosi as next chairperson
Photo by Creamer Media
Sipho Nkosi

Glencore announces finalisation of Astron acquisition

By: Creamer Media Reporter      9th April 2019 Glencore South Africa Oil Investments on Monday announced the close of its acquisition of 75% of Astron Energy in South Africa and 100% of Astron Botswana – the two businesses previously owned and operated by Chevron South Africa. Glencore said it was looking forward to working with the Astron... 

Glencore announces finalisation of Astron acquisition

Brace for another massive fuel price hike – AA

By: News24Wire      29th March 2019 Motorists should brace for another massive fuel price hike next week, the Automobile Association (AA) warned on Friday. Given the latest data from the Central Energy Fund (CEF), the AA expects petrol to increase by a total of R1.28 a litre, diesel by 77 cents a litre, and illuminating paraffin by... 

 Brace for another massive fuel price hike – AA

April fuel price increase to impact workers 

By: African News Agency      28th March 2019 The expected sharp increase of about R1,35/litre in fuel price is likely to see workers struggle financially in April, trade union Uasa said on Thursday.  The fuel price in South Africa is already around R14.62 per litre, meaning basic commodities and transport are becoming expensive. 

 April fuel price increase to impact workers

$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

Sahara Energy CEO calls for swift unified standards for petroleum trade in Africa

By: Kim Cloete     27th March 2019 Sahara Energy CEO Tope Shonubi has called for more momentum to adopt unified standards for petroleum trade across Africa to replace the current fragmented African market. A "lack of unitisation, inefficiencies, scale and different specifications brings about chaos", he told delegates at the... 

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... 

Astron Energy signals commitment to growing its Cape Town refinery, service stations

By: Kim Cloete     26th March 2019 Standalone South African energy company Astron Energy is upbeat about investing in both its Cape Town refinery, as well as its Caltex-branded service stations over the next few years. “Investment in South Africa has positive potential. South Africa has the highest fuel consumption in sub-Saharan... 

Sasol donates $250 000 to those hit by tropical cyclone Idai

By: African News Agency      22nd March 2019 Sasol on Thrsday committed to donate $250 000, or about R3.56-million, for the relief and support of communities that have been severely affected by the tropical cyclone Idai in Beira and Dondo in Sofala province of Mozambique. This will also be provided to other impacted areas in Inhambane... 

Levies to add to expected fuel price hike in April – AA 

By: News24Wire      15th March 2019 South African consumers should brace for a possible increase in the basic fuel price in April of 98 cents per litre for petrol, 70 cents per litre for diesel and 63 cents per litre for illuminating paraffin, the Automobile Association (AA) said in a statement on Friday. The AA warned that the... 

 Levies to add to expected fuel price hike in April – AA

Uganda probes refinery over alleged smuggling of gold

By: Reuters     14th March 2019 Ugandan authorities said on Wednesday they are investigating the country's biggest gold refinery over recent imports of an estimated 7.4 tonnes of gold, worth some $300-million. Ugandan state-run media has reported the gold could have originated from Venezuela, which has been selling gold to prop... 

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

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

Growth boosts fuel distributor

By: Thabi Madiba     8th March 2019 The 100-million litres supplied to logistics, construction and mining companies in 2017 compared to the 151-million supplied in 2018, shows a significant growth of 51%, which fuel distributor Advent Oil MD Lebo Mbethe hopes will serve as a catalyst for the business in 2019. She attributes this... 

Growth boosts  fuel distributor
GROWTH IN NUMBERS Hunger for taking up new changes in a demanding market will catalyse growth for Advent Oil

African fuel retailer Vivo Energy posts higher profit, volumes

By: Reuters     6th March 2019 African fuel retailer Vivo Energy Plc reported a 2% rise in 2018 gross profit on higher volumes and forecast low to mid double-digit%age volume growth for the current year despite tough market conditions in Morocco. The company, which distributes and markets Shell-branded fuels and lubricants in... 

Zimbabwe allows mines, others to import own fuel as shortages bite

By: Reuters     6th March 2019 Zimbabwe on Tuesday allowed mining companies and other businesses to import their own fuel following shortages that have gripped the economy in the last six months due to a severe dollar crunch, a cabinet minister said. Supplies of fuel in the southern African nation have been intermittent since... 

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. 

Petrol and diesel increase will have negative effect on economy – trade union UASA

By: African News Agency      4th March 2019 Trade union the United Association of South Africa (UASA) on Monday said the 74 cents per litre of petrol increase and almost R1 per litre of diesel increase that workers will pay as from Wednesday, combined with the increase in toll gate fees that came into effect on Friday, will have a negative... 

Petrol and diesel increase will have negative effect on economy – trade union UASA

Big fuel price increase on Wednesday

By: News24Wire      4th March 2019 South African motorists will be paying 74 cents more per litre of petrol and between 91 and 93 cents more per litre of diesel from midnight on Tuesday. The fuel price announcement for March was made by Minister of Energy, Jeff Radebe, on Monday morning. 

Big fuel price increase on Wednesday

Fuel price cap research still in progress, says director general 

By: News24Wire      26th February 2019 Deputy director general for petroleum and petroleum products regulation at the Department of Energy, Tseliso Maqubela, said on Tuesday that research into the feasibility of a fuel price cap was not yet finished. On the sidelines of a meeting of Parliament's oversight committee on energy, Maqubela... 

 Fuel price cap research still in progress, says director general

Energy minister's remarks point to upcoming fuel price hike

By: News24Wire      26th February 2019 Minister of Energy Jeff Radebe told Parliament's oversight committee on energy on Tuesday that difficulties beyond the government's control look set to inform the fuel price announcement due at the end of the week. His remarks strongly point towards a fuel price hike for motorists. The final fuel... 

 Energy minister's remarks point to upcoming fuel price hike
Minister of Energy Jeff Radebe

Renergen’s Tetra4 signs LNG supply deal with Black Knight

By: Simone Liedtke     26th February 2019 Integrated alternative and renewable energy business Renergen’s Tetra4 subsidiary has secured an agreement with fuel products distributor Black Knight Group for the sale of liquefied natural gas (LNG). Black Knight has, in recent years, developed a logistics division to provide holistic fuel... 

Sasol half-year profit rises

By: Reuters     25th February 2019 South African petrochemicals group Sasol on Monday reported an 18% jump in half-year profit on the back of higher crude oil prices, a weaker rand to the dollar and higher margins in its speciality chemicals unit. Core headline earnings per share (HEPS) rose to R21.45 ($1.54) for the six months... 

Sasol half-year profit rises

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

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.

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%... 

Petrol price likely to go up in February – AA

By: News24Wire      29th January 2019 The price of petrol is likely to go up and that of diesel down in February, according to the Automobile Association (AA). The AA was commenting on unaudited month-end fuel price data released by the Central Energy Fund (CEF). 

Petrol price likely to go up in February – AA

Nigerian commodities king Dangote targets foreign markets in sales push

By: Reuters     22nd January 2019 Africa's richest man, Aliko Dangote, said on Monday he expected to step up exports of cement and other commodities from Nigeria from this year as he focuses on foreign markets to boost sales and generate much-needed hard currency. Dangote told Reuters he expected to have 8 million tonnes of... 

Egypt to invest $9bn in refineries' upgrade over four years – Minister

By: Reuters     21st January 2019 Egypt plans to upgrade six oil refineries at a cost of about $9-billion over four years to increase domestic production to 41-million tonnes a year, the petroleum minister said. "We are trying to secure crude oil supplies for Egyptian refineries to increase local production of refined products,"... 

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

Saudi Arabia plans oil refinery, petrochemicals plant in South Africa

By: Reuters     18th January 2019 Saudi Arabia plans to build an oil refinery and a petrochemicals plant in South Africa as part of $10-billion of investments in the country, Saudi Energy Minister Khalid Al-Falih said on Friday. In comments following a meeting with South Africa's energy minister Jeff Radebe in Pretoria, Al-Falih... 

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