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Refineries & Retail News

Price of oil to increase, gold to remain high going into 2021 – Fitch Solutions

By: Donna Slater 20th November 2020 With the brent crude oil price continuing to rise in November, following reports of a second highly effective Covid-19 vaccine nearing emergency approval in the coming weeks, financial risk management, solutions and insights company Fitch Solutions Country Risk and Industry Research (Fitch... →

Britain to ban new petrol cars and vans by 2030 on road to net zero emissions

By: Reuters 18th November 2020 Britain will move up a ban on new petrol and diesel cars and vans to 2030 and is eyeing 250 000 new jobs as part of a green industrial revolution, Prime Minister Boris Johnson said as he tries to meet Britain's net zero emissions climate target. Johnson is seeking to show his government is on... →

Sasol's board agrees to 20% fee reduction

By: Reuters 18th November 2020 South Africa's Sasol said on Wednesday its board agreed to a 20% cut in the fees proposed for approval at its 2020 annual general meeting due to erosion of shareholder value over the past two years and challenges still facing the petrochemical firm. The fee reduction will remain in place until a... →

Sasol working to reset business for low-carbon world

13th November 2020 Financially and environmentally beleaguered energy and chemicals group Sasol is working to reset its business for a low-carbon world. Engineering News Editor Terence Creamer unpacks the emerging strategy. →

Sasol working to reset business for low-carbon world

NGOs call on global investor climate initiative to intervene in Sasol shareholder issue

By: Tasneem Bulbulia 10th November 2020 Nongovernmental organisation Just Share, supported by shareholder activist organisations ShareAction (UK), Majority Action (USA), Follow This (Netherlands) and the Australasian Centre for Corporate Responsibility (ACCR), has written to Climate Action 100+ (CA100+) − the world’s largest investor... →

Vivo Energy resumes dividend pay on improved trading

By: Reuters 30th October 2020 Africa-focussed fuel retailer Vivo Energy said on Friday volume improved in the third quarter from the second as COVID-19 restrictions eased and it would pay a previously withdrawn 2019 final dividend. UK-listed Vivo said it was cautiously optimistic for the rest of the year and into 2021, as no... →

Recognition of LPG benefits in energy mix growing

16th October 2020 For many years, the benefits of liquefied petroleum gas (LPG) for South Africa “have been largely, frustratingly, moot”, according to a statement from industry association LPG South Africa (LPGSA). The doubt surrounding LPG’s benefits stems from an historically inconsistent and unreliable supply... →

BIG BOY Bidvest Tank Terminal’s large-scale mounded LPG storage facility in Richards Bay was scheduled for completion this year

Sasol tax break, subsidy support boosts pollution, group says

By: Bloomberg 13th October 2020 Sasol got a R8.1-billion profit boost last year thanks to the country’s fuel subsidies and its exemption from a South African carbon tax, according to the International Institute for Sustainable Development. In a report, the institute says that Sasol’s proprietary coal-to-fuel technology is a... →

The Secunda coal-to-liquids plant in Mpumalanga.

Fuel prices set to drop this week

By: African News Agency 5th October 2020 The price of fuel will decrease this week, with diesel and paraffin users set to benefit the most, the mineral resources and energy department said on Sunday. As of midnight on Tuesday, the price of petrol 95 octane, both unleaded and lead replacement, will drop by 32c/l, while the price of... →

Long-term demand structure for petroleum unclear

By: Darren Parker 4th September 2020 It is expected that the Covid-19 pandemic will continue to negatively affect liquid fuels demand in the short term, but whether this represents a long-term structural shift is not yet clear, says South African Petroleum Industry Association (Sapia) executive director Avhapfani Tshifularo. Before... →

Photo by Adobe
NO NEED TO IMPORT Reduced demand will see South Africa becoming somewhat self-sufficient in terms of fuels production if all refineries are operational

Heavy equipment demobilised after project completion

4th September 2020 Heavy equipment lifting and transporting company Mammoet recently began demobilising equipment it had deployed at the Dangote Petroleum Refinery and Petrochemical complex in Lekki Free Zone, in Nigeria. The demobilising of the equipment began in July. →

BIG DELIVERIES The components for the refinery project consisted of multiple shipments delivered to the purpose-built Dangote Quay Lekki in Lagos

New proportioning system ideal for refineries

By: Darren Parker 4th September 2020 Fire-suppression systems developer FireDos launched the third generation (Gen III) of its foam proportioners for fire extinguishing systems globally at the end of last year. The technology has since been made available in South Africa through local partner and distributor DoseTech. The Gen III... →

A NEW GENERATION The Gen III foam proportioner can handle all types of foam agents, even highly viscous, alcohol-resistant and fluorine-free foam agents

Africa’s richest man is betting more than he’s worth on a vast oil refinery

By: Bloomberg 28th August 2020 On a peninsula east of Lagos, 30 000 workers are employed on a project that holds out the promise of transforming Nigeria’s economic fortunes. It’s here that Aliko Dangote, Africa’s richest man, plans to spend more than his net worth of $13.5-billion building one of the world’s biggest oil... →

Fuel price feeds inflation spike as SA consumers take another hit

By: African News Agency 26th August 2020 Statistics South Africa, a governmental organisation, reported on Wednesday a spike of 3.2% in the consumer price index, which was higher than June’s 2.2%. The increase in CPI, a financial instrument used to measure inflation, was reportedly driven by a hike in fuel prices which came as the... →

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 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

Sasol swings to R91.3bn annual loss on lower oil prices, writedown

By: Reuters 17th August 2020 South African petrochemicals group Sasol reported an annual loss on Monday, hit by a writedown of R111.6-billion and a drop in oil and chemical prices due to the coronavirus outbreak. The world's top producer of motor fuel from coal reported a loss of R91.3-billion for the full year ended June... →

Fuel prices set to increase in August despite strengthening rand, says AA

By: News24Wire 29th July 2020 The Automobile Association says fuel prices are set to increase in August despite the strengthening rand. The association was commenting on unaudited month-end fuel price data released by the Central Energy Fund. "As matters currently stand, petrol is likely to increase by between nine and 16... →

Sasol narrows immediate asset-disposal focus to ‘top ten’ list

By: Terence Creamer 3rd July 2020 Chemicals and energy group Sasol has developed a list of ten major assets that will be prioritised for sale in the coming weeks and months as it moves to streamline the business into what is being termed ‘Sasol 2.0’, while also raising proceeds to help it reduce a $9.5-billion debt burden. In... →

Photo by Creamer Media
Sasol CFO Paul Victor

Two killed, seven injured in incident at Astron's Milnerton refinery

By: Marleny Arnoldi 2nd July 2020 Petrochemicals company Astron Energy has confirmed that two people were killed and seven injured in a fire at its 100 000 bbl/d Milnerton refinery, in the Western Cape, in the early hours of July 2. The company immediately activated its emergency response procedures and notified the relevant... →

SA petrol price to rise by up to 172 cents from July 1, government says

By: African News Agency 30th June 2020 The retail price of petrol in South Africa will increase by up to R1.72 (10 US cents) a litre from Wednesday while the wholesale price of diesel will rise by as much as R1.73, the department of mineral resources and energy said on Tuesday. The department said the retail price of illuminating... →

Fuel prices projected to increase due to weak rand, rebound in global oil market – AA

By: News24Wire 26th June 2020 The Automobile Association is projecting that South African motorists will pay about R1.73 more for a litre petrol, and R1.74/l more for diesel, from next week when fuel prices for July come into effect. It was commenting on unaudited month-end fuel price data released by the Central Energy... →

Advantages of biodiesel highlighted

19th June 2020 Women-owned biodiesel distributor EcoDiesel believes that the solution to South Africa’s current need for an alternative energy source that is efficient, recycles waste and takes care of the environment, is biodiesel. “Crude reserves, global price volatility and environmental impact issues have... →

TRUCK IT EcoDiesel is making the environment and cost saving benefits of locally manufactured biodiesel better known in South Africa

Sasol revamp to cut jobs, end West African oil ops

By: Reuters 18th June 2020 South Africa's Sasol plans to cut jobs and end West African oil operations as part of a business revamp, the petrochemicals producer said on Thursday, adding it had also agreed a deal with lenders to relax borrowing rules. Sasol has been reviewing its business as it struggles with high debt... →

DMRE welcomes new female energy sector business leaders

By: Donna Slater 5th June 2020 Mineral Resources and Energy Minister Gwede Mantashe has welcomed the recent appointments of a number of women to senior executive positions in the energy sector. According to the Department of Mineral Resources and Energy (DMRE), the appointment of women to leadership roles, specifically in the... →

Fuel price set to rise as economy gears up for Level 3 – AA

By: News24Wire 29th May 2020 The fall in the petrol price of recent months is set to come to an end in June, according to the latest projections released by the Automobile Association on Friday. The Association said in a statement that petrol is expected to increase by up to R1.18 a litre. The association also expects an... →

Entries for Sasol Business Accelerator programme now open

By: Donna Slater 28th May 2020 Petrochemicals and chemicals manufacturer Sasol reports that it has opened entries for small, medium-sized and microenterprises (SMMEs) in the manufacturing, engineering services and recyclables sectors to join its Sasol Business Accelerator (SBA) programme. Interested companies must be based in... →

Reports of CEF acquiring Sasol’s fuel retail network dismissed

By: Terence Creamer 27th May 2020 Chemicals and energy group Sasol has dismissed reports that it plans to sell its fuel retail business as part of an ongoing asset disposal process, while the State-owned Central Energy Fund (CEF) has described as “malicious” reports that it is in talks to acquire Sasol’s petrol stations. Sasol... →

Photo by Creamer Media's Donna Slater
Sasol CFO Paul Victor

CEF looks to buy Sasol assets to end losses

By: Bloomberg 26th May 2020 The State-owned Central Energy Fund (CEF) is considering buying assets that have been put on the block by fuel and chemical maker Sasol as it seeks to restore itself to profitability. The CEF “needs to put an end to the losses” at its units, including oil company PetroSA, chairperson Monde... →

CEF fills all vacant CEO positions for group companies

By: Donna Slater 11th May 2020 Having not had permanent CEOs since 2014, the Central Energy Fund (CEF) has now filled the position of group CEO, as well as all vacant CEO positions at its group companies, in particular at the Strategic Fuel Fund (SFF), the Petroleum Agency of South Africa (Pasa) and national oil company... →

International oil, gas industry in unchartered waters – Norton Rose Fulbright

By: Donna Slater 6th May 2020 The oil and gas industry is experiencing a “truly historic moment”, with prices having dropped below zero for a barrel of oil and liquefied natural gas (LNG) shipments likely to be halted in the near future, says law firm Norton Rose Fullbright US oil and gas practice head Julie Mayo. She... →

Vivo Energy reports Covid-19-related slump in demand for its products

By: Donna Slater 30th April 2020 Pan-African fuel and lubricant retailer and distributor Vivo Energy has reported a first-quarter gross profit of $179-million, up 6% from the first quarter of 2019, with a strong available liquidity position of $1.6-billion. The company experienced strong trading in January and February,... →

Govt set to lose up to R7bn in April on fuel levies, says AA

By: Irma Venter 29th April 2020 With the significant drop in fuel use seen during April’s lockdown, government’s revenue from the general fuel levy (GFL), which comprises about 25% of every litre of fuel, is set to suffer a major decline, says the Automobile Association of South Africa (AA). “Considering the annual collection... →

Sasol cuts output as Covid-19 eats into fuels and chemicals demand

By: Terence Creamer 23rd April 2020 Embattled chemicals and energy group Sasol reports that South Africa’s lockdown is having a significant impact on fuel demand, as well as demand for chemicals used in the mining and construction sectors. The JSE-listed group has, therefore, been forced to curtail production at certain plants. In... →

Business is booming for supplier

By: Darren Parker 10th April 2020 Stainless steel vessels and tanks supplier Metal Tank Industries has noted a definite market upswing in the past eight months, particularly in the food and beverage sector, as well as in the industrial sector, in terms of mineral oils, petroleum oils, chemicals and agrochemicals production.... →

MAKING IT WORK Metal Tank Industries’ streamlined production processes has helped it become more competitive in terms of costing

Sapref donates masks, goggles to community clinics

By: Marleny Arnoldi 7th April 2020 The Sapref refinery, a joint venture between Shell South Africa Refining and BP Southern Africa, has heeded the call for corporates to donate their personal protective equipment (PPE) stock to the healthcare sector. This comes amid a shortage of masks and other PPE needed to fight the Covid-19... →

Sapref donates equipment to the Bluff clinic, in KwaZulu-Natal

Chemicals industry likely to face longer-than-expected downturn, says ICIS

By: Donna Slater 7th April 2020 The Independent Commodity Intelligence Service (ICIS) has warned the international chemical sector to prepare for an extended downturn along with lower-for-longer oil prices, both of which will have big implications for profitability and investments. ICIS demand forecasting lead analyst Rhian... →

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