Industry News

Our Latest Blog Posts
29
May

EXPECT A HUGE PETROL PRICE INCREASE!

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 increase of 22 cents for diesel and 41 cents for illuminating paraffin. Remarking on unaudited month-end fuel…

Read more →
29
May

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

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 increase of 22 cents for diesel and 41 cents for illuminating paraffin. Remarking on unaudited month-end fuel…

Read more →
28
May

Diesel is in short supply around SA – and these areas could be worst affected

South Africa has begun to implement diesel rationing following unexpected high demand after lockdown. Officially, it's only supposed to last until the end of the month, but the DA says rationing might last till mid-June. Half of the country's six oil refineries were mothballed for lockdown and are only coming online now, while a third ran into technical problems. For more articles, go to www.BusinessInsider.co.za. Diesel shortages might continue until…

Read more →
26
May

Aramco is first oil major to regain pre-price war share price

Saudi Aramco is the first major global oil producer to see its stock recover to the level it traded at before the price war between Russia and Saudi Arabia. Aramco climbed 3.1% in Riyadh on Tuesday, advancing for a record sixth day alongside an extended increase in the price of crude. The stock has gained each session since the company announced it would retain dividend payouts, despite a drop in…

Read more →
26
May

If Sasol can’t raise its own money it may need state pension cash – if Gauteng wants petrol

Sasol plans a rights issue bigger than its entire market valuation right now, which it says will help reshape its balance sheet. If that doesn't work, it may have to be bailed out using the same government pension funds mooted to save Eskom. Sasol makes only around 30% of South Africa's fuel – but all of that goes to inland provinces like Gauteng, which don't have many options. For more…

Read more →
26
May

New CEO for SA’s state oil company

State oil company PetroSA announced on Wednesday that it had appointed Pragasen Naidoo as its new Group CEO with effect from January 17. He takes over from the group's interim head, Bongani Siyadini. Naidoo previously served served as the group chief operations and business development officer at the Central Energy Fund, the holding company under which PetroSA falls. PetroSA chairperson, Frans Baleni, said in a statement that Naidoo’s "demonstrable industry experience…

Read more →
20
May

Sasol opens bids for clean energy producers to supply its plants

Sasol, one of the country's biggest emitters of greenhouse gases, has invited bids from independent power producers for the supply of renewable energy to its local operations in a move to reduce emissions. The petrochemicals company, which operates mega facilities in Sasolburg and Secunda, where it converts coal into fuel and chemicals, said it had its sights on wind and solar energy producers with a generation capacity of at least…

Read more →
15
May

Sasol opens bids for clean energy producers to supply its plants

Sasol, one of the country's biggest emitters of greenhouse gases, has invited bids from independent power producers for the supply of renewable energy to its local operations in a move to reduce emissions. The petrochemicals company, which operates mega facilities in Sasolburg and Secunda, where it converts coal into fuel and chemicals, said it had its sights on wind and solar energy producers with a generation capacity of at least…

Read more →
12
May

Car Doctor | ‘Can petrol expire?’ – Five frequently asked car questions in lockdown

We might be in Level 4 restrictions in South Africa, but we're still supposed to be staying home and only driving for essential trips to the grocery store or for medical supplies. For most, this means their vehicles are still parked for quite some time too. However, just because we are in lockdown it doesn't mean our vehicles should be parked and forgotten  - even if you're doing a once…

Read more →
11
May

Oil set for second weekly gain with market starting to rebalance

Oil headed for its first back-to-back weekly gain since February as output cuts from the biggest producers and a nascent recovery in demand began to rebalance a market awash with crude. Futures in New York rose toward $25 a barrel on Friday and are up around 24% so far this week. Saudi Arabia, the world’s largest oil exporter, raised the cost of almost all grades for June, suggesting it’s more…

Read more →