An Eastern Cape fuel supplier is cutting all ties with Shell ahead of a controversial seismic survey that will be carried out on behalf of the oil and gas company. Express Petroleum distanced itself from Shell, saying that it is not involved, nor does it support the seismic blasting. According to Shell's website, Express Petroleum is one of 10 branded distributors located nationally. An Eastern Cape fuel supplier, Express Petroleum, is…

A fund backed by Dutch trading giant Vitol Group agreed to buy Vivo Energy in a deal valuing the Africa-focused fuel retailer at about $2.3 billion (R37 billion). The transaction will bring Vivo assets back in house for the oil trader, which sold shares in the retailer in 2018 in what was one of the biggest initial public offerings on the London Stock Exchange that year. The offer shows Vitol is willing…

Shell plans to start a seismic survey off the coast of the Eastern Cape from 1 December to detect oil and gas reserves. Environmental activists and concerned citizens however are petitioning to block the seismic blasts. They are concerned that the blasts will interfere with the way marine mammals navigate, and that marine life will be damaged by oil or gas drilling in the ocean.  Environmental activists and concerned citizens are…

Shareholders who hold more than 96% of Sasol shares voted in favour of its climate change report. Shareholder activists said the result reflected the failure of investors to interrogate or understand the significant gaps in Sasol's plans. A credible strategy to reduce its reliance on coal is central to the company’s investment case.  Sasol shareholders have voted overwhelmingly in favour of the company’s climate change report which sets out a…

Caltex service stations bearing the iconic red, white, and blue branding, which have an 85-year history in South Africa, are being phased out. More than 850 forecourts across South Africa and Botswana will have Astron Energy’s new orange, white, and purple logo and corporate identity. This follows a takeover of Caltex in 2018 and an announcement earlier this year that Astron would become the overarching brand across all corporate, commercial,…

Clean-up operations were under way after an oil spill in Algoa Bay on Wednesday. The spill could endanger bird colonies at the nearby St Croix Island. Samsa has detained the vessel involved and is busy investigating the incident. An oil spill has occurred in Algoa Bay, with around 80 litres of fuel entering the sea. The South African Maritime Safety Authority (Samsa) and other stakeholders have started clean-up efforts and…

The consumer price index (CPI) for October 2021 is 5.0% - unchanged from the 5.0% recorded in September, despite a sharp increase in fuel prices. Statistics SA data show that fuel prices were 23% higher in October than the year before. The October number was slightly lower as the consensus forecast of 5.1%, according to a Bloomberg poll among economists. The monthly inflation rate also held steady, at 0.2%. Average…

Royal Dutch Shell announced a major overhaul of its legal and tax structure that will see the company walk away from the Netherlands amid deteriorating relations with what has been its home country for a century. The changes come as Shell is simultaneously battling an activist investor who’s demanding the company split itself into two to attract shareholders leaving the energy sector because of concerns over climate change. Shell said…

Sasol, South Africa’s second-biggest producer of greenhouse gases, risks missing its climate targets if the energy-to-chemicals group can’t secure the alternatives needed to replace coal, according to a study. The company, which announced a plan in September to reduce emissions 30% by 2030, has only confirmed access to about 10% of the natural gas that will be increasingly needed to displace the dirtiest fossil fuel, analysts at Global Climate Insights wrote. Sasol…