Sasol hopes it will emerge from its slump and re-claim its spot as a top blue chip firm. The company's planned rights issue, estimated around $2 billion, is still on the table. It expects units at the US Lake Charles Chemicals project, hit by hurricanes, to be back online by end October. From being crippled by difficult market conditions to suffering the brunt of natural disasters in the US, Sasol's…

Six men, including two policemen, who allegedly stole diesel have failed to get back their vehicles, cellphones and money that were confiscated by police. Since their arrests there have been no further thefts of diesel from the Transnet pipeline that runs through KwaZulu-Natal, the Pietermaritzburg high court heard this week. Although the men are named in court papers they are not being named because they have not yet been charged.…

The theft of a pipe has caused a crude oil spill in the Bellair area, in Durban, affecting the Umbilo River. The river flows into the Durban Harbour. READ | France sends in specialist teams after Mauritius declares oil spill emergency The extent of the environmental impact will be assessed by MEC for Economic Development, Tourism and Environmental Affairs Nomusa Dube-Ncube. "I have assigned a team of environmentalists from my department…

A diesel thief was sentenced to 13 years for the theft of diesel from a Transnet fuel line. Hawks spokesperson Captain Ndivhuwo Mulamu said 27-year-old Batsarai Chimutanga was spotted in a mielie field in Klip River in the Vaal area. He was convicted for the theft of around R300 000 worth of diesel, and for tampering with essential infrastructure. He was arrested in March after investigators got a tip-off about…

The AA forecast a decrease in the price of fuel and diesel. • Illuminating paraffin will see an increase. • The rand/US dollar exchange rate played a part in the decrease. • For more motoring stories, go to www.Wheels24.co.za Petrol and diesel prices are likely to fall at month-end, with a small increase predicted for illuminating paraffin. This is according to the Automobile Association, which was commenting on unaudited mid-month fuel price data released…

The explosion happened at a depot in the district of Baruwa-Ipaja. Five people have been killed and three others injured. Over 40 houses, 89 shops and many vehicles were also burnt during the explosion. A gas-laden truck exploded and caught fire early Thursday in Nigeria's commercial capital Lagos, leaving five dead and three others seriously injured and destroying dozens of homes and shops, the emergency services said. The incident -…

Aramco doubles down on oil to outlast rivals The slump in demand for crude during the coronavirus pandemic has forced oil companies to contemplate the possibility that the fossil fuel market has peaked and the time for a global energy transition has come. But as Francis Maguire reports Saudi Ar SOURCE: https://www.news24.com/fin24/markets/commodities/watch-aramco-doubles-down-on-oil-to-outlast-rivals-20201007

Oil rose from a three-week low after a member of Donald Trump’s medical team said the US President could leave the hospital as soon as Monday, despite contradictory accounts about his health status. Futures advanced 1.6% in New York after the biggest weekly drop since June amid a broader relief rally in Asian stocks. Trump’s condition remained clouded by confusion, with the president making a surprise outing from the medical center in…

Municipal fuel attendant ripped off Msunduzi Fuel was recorded being put into out of service vehicles Not the first time employees have stolen fuel from municipality Thousands of litres of petrol and diesel, amounting to more than R1,4 million, were allegedly stolen from Msunduzi with the help of a fuel attendant at the Doull Road depot. This was revealed in a confidential forensic investigation report on alleged fraud and theft…

Fuel price cuts from Wednesday From Wednesday morning, 93 petrol will be 23 c/l lower, while 95 petrol will decrease by 32c/l. Diesel will be lowered with some 90c. This is thanks to a stronger rand last month, and a falling oil price. The Brent crude oil price fell from an average of $44.78 per barrel in August to $40.82 in September, while the average rand level was R17.28 in…