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Acacia fails to change Barrick’s view on mine plans 

By: Mariaan Webb     26th June 2019 London-listed Acacia Mining’s near-5 000-word rebuttal of claims by its parent company over mine plans for its gold operations in Tanzania has failed to change Barrick Gold’s view. The Toronto-headquartered miner, which is trying to buy out minority shareholders in Acacia without paying a... 

Outa calls on Mantashe to intervene to save crude oil reserves 

By: Marleny Arnoldi     25th June 2019 The Organisation Undoing Tax Abuse (Outa) says a Cape High Court case on Friday will determine the fate of South Africa’s strategic crude oil reserves that are worth more than R9.3-billion. Outa states that, between December 2015 and January 2016, South Africa’s strategic oil reserves had been... 

Omnia to restructure as it seeks to reduce overextended balance sheet 

By: Schalk Burger     25th June 2019 Diversified chemicals group Omnia will, over the next two years, focus on improving the profit margins of its companies’ services and products, ensuring that its assets and investments deliver value, as well as on pursuing international expansion of intellectual property-based businesses that... 

Kenya government, Tullow Oil, Africa Oil and Total sign deal to develop crude oil facility

By: Reuters     25th June 2019 Kenya's government, and oil firms Tullow Oil, Total and Africa Oil Corp have signed agreements for the development of a 60 000 bbl/d to 80 000 bbl/d crude oil processing facility for oil discovered in the country's north west, the Petroleum and Mining Ministry said on Tuesday. The ministry said... 

India plans incentives for oil, natural gas E&P investors

By: Ajoy K Das     24th June 2019 The Indian government is planning to frame an incentive policy for oil and natural gas exploration and production (E&P) companies. The new policy will incorporate some of the financial incentives discontinued earlier, and the sops extended to E&P companies, even if they fail to bring exploratory... 

Industry needs to ‘normalise’ to foster growth

By: Jessica Oosthuizen     21st June 2019 The local gas and welding industry is still a reflection of what it was about 20 years ago and the industry is using less than 20% of the productive economy, which subsequently inhibits growth and development of the industry, says integrated gas and welding solutions provider Unique Welding... 

Ngqura liquid bulk terminal project, South Africa

By: Sheila Barradas     21st June 2019 The Transnet National Ports Authority and Oiltanking Grindrod Calulo have said that they are on track with developments at the Port of Ngqura. 

Mozambique gas riches near as $25bn LNG plant approved

By: Bloomberg     19th June 2019 Anadarko Petroleum approved a $25-billion liquefied natural gas (LNG) project in Mozambique that could help transform the economy of one of the world’s poorest countries. CEO Al Walker signed off on what he called the biggest ever foreign investment in Africa. Anadarko sees potential for... 

Ten in a row for Engen: SA’s coolest Petroleum Brand

18th June 2019 Engen has again been voted the “Coolest Petroleum Brand” in the Sunday Times Generation Next awards. This is the tenth consecutive year that South Africa’s youth have backed Engen, reaffirming the company’s uncontested brand leadership and market strength. With youth development playing a central... 

Indian aluminium producers seek protection measures

By: Ajoy K Das     18th June 2019 Ahead of India’s national Budget to be presented before Parliament next month, aluminium producers are seeking a slew of protection measures. Aluminium Association of India is seeking an increase in import duty on finished aluminium from 10% to 12.5%, considering that the domestic industry was... 

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