R/€ = 19.30 Change: -0.04
R/$ = 16.46 Change: -0.07
Au 1877.18 $/oz Change: -29.33
Pt 865.60 $/oz Change: -19.98


Transnet Pipelines notes another theft incident

By: Tasneem Bulbulia     26th October 2020 Pipelines operator Transnet Pipelines (TPL) says it continues to experience theft of fuel from its petroleum pipelines, with the latest incident in the Ladysmith area on its 24-inch multiproduct pipeline transporting fuel from Durban to the Gauteng inland terminal. The incident resulted in diesel... 

Nigeria pays oil majors $3bn, moving closer to ending dues

By: Bloomberg     20th October 2020 Nigeria reimbursed oil companies including Exxon Mobil and Royal Dutch Shell $3-billion, moving closer to clearing operating expense arrears owed since 2010. The payment is being settled through a five-year crude oil sales deal agreed in 2016, Nigerian National Petroleum Corp (NNPC) said in a... 

ABB process control systems connect with IBM security platform to provide digital threat visibility

By: Schalk Burger     16th October 2020 Global engineering and industrial technologies group ABB and enterprise cybersecurity subsidiary company IBM Security on October 15 announced a collaboration focused on connecting cybersecurity and operational technology (OT). The first result of this collaboration resulted in ABB developing a... 

Business welcomes recovery plan, but urges swift implementation 

16th October 2020 Organised business formations have responded to the Reconstruction and Recovery Plan released by President Cyril Ramaphosa on October 15. On the whole, business has welcomed the plan, including the fact that it embraces many of the recommendations made to government by the social partners through... 

KZN govt reaches out to Engen amid its oil refinery considerations

By: Marleny Arnoldi     9th October 2020 KwaZulu-Natal Economic Development, Tourism and Environmental Affairs MEC Nomusa Dube-Ncube has tasked the Trade & Investment Council KwaZulu-Natal (TIKZN) to look into the matter of the Engen Oil Refinery potentially closing its doors in a few years’ time. Engen confirms in a statement that it... 

High Court ruling underscores requirement for mining right applicants to consult community

By: Donna Slater     18th September 2020 A recent High Court ruling underscores the more stringent requirements in recent amendments to the Mineral and Petroleum Resources Development Act (MPRDA) for mining right applicants to consult with community members​, says law firm Webber Wentzel. The firm points out that, on September 11, the... 

Afrox manages healthy dividend, profit despite lower demand in H1 

By: Marleny Arnoldi     11th September 2020 Gas supplier African Oxygen (Afrox) has declared a dividend of 38c a share for the six months ended June 30. It also posted earnings before interest and taxes (Ebit) of R336-million and basic earnings a share of 77.8c.  

Petredec forms South African subsidiary after acquiring Jubane, Oilco

By: Marleny Arnoldi     1st September 2020 Liquefied petroleum gas (LPG) trading and shipping company Petredec has launched a subsidiary in South Africa called Petrefuel, after recently acquiring Empangeni-based fuels wholesaler Jubane Petroleum and fuels distributor Oilco last year. Petrefuel will operate alongside Petregaz, which is... 

Volco Power notes readiness to supply LNG to South African industry

By: Tasneem Bulbulia     25th August 2020 The global and local natural gas and liquefied natural gas (LNG) industries are changing and the global influx of supply, lower prices and environmental benefits of natural gas are driving consumers to convert from other fossil fuels, says natural gas solutions provider Volco Power. The company... 

Appea urges changes to boost oil and gas sector

By: Esmarie Iannucci     25th August 2020 The Australian Petroleum Production and Exploration Association (Appea) has urged the federal government to extend the Junior Minerals Exploration Incentive (JMEI) to the oil and gas sector. In its pre-Budget submission, Appea also recommended four other reforms, including making salary costs... 

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