Sasol has declared force majeure on the export of certain chemical products as the heavy rainfall and floods in KwaZulu-Natal have impacted the business. The group, a producer of synthetic fuels and chemicals, said its quarterly volume outlook may also be impacted "subject to the extent of infrastructure damage and the timing of the recovery and restoration of key infrastructure and utilities". Force majeure frees parties from contractual obligations in the…

According to the latest data from the Central Energy Fund, the petrol price may be lowered in the first week of May. Diesel users may still face a hike, though. With more than a week to go before fuel prices are fixed, the current data show that 95 octane petrol is set to be lowered by around 34c a litre, and 93 octane by 32c. According to current estimates, diesel…

Annual consumer price inflation rose to 5.9% in March from 5.7% in February, driven in large part by fuel price hikes. This was slightly lower than expected - economists polled by Reuters forecast a 6% increase. The latest inflation number also remains within the SA Reserve Bank’s 3% to 6% target range. The monthly change in the index was 1.0% in March, up from 0.6% in February, Statistics SA reported.…

Divers have inspected the hull of a tanker loaded with 750 tonnes of fuel that sank off southeastern Tunisia, with no leak detected so far, officials said. The crew of the Xelo had made a distress call on Friday evening and sought shelter in Tunisian waters from bad weather before going down, authorities said. The Equatorial Guinea-flagged Xelo was travelling from Egypt to Malta when it went down. Images released…

A Tunisian tanker sank off the coast of Gabes. It was carrying at least 750 tons of fuel. Italy offered to help with the clean-up. Some countries have offered to help Tunisia prevent damage to the environment after a merchant ship carrying up to one thousand tons of oil sank off the coast of Gabes, the Tunisian defence ministry said on Sunday. READ | One dead, six injured in oil tanker…

The South African Petroleum Industry Association (SAPIA) confirmed that there is adequate petroleum products available in the country following the recent floods in KwaZulu-Natal. SAPIA, which represents the collective interests of the South African Petroleum Industry, said while there has been an impact on operations across the supply chain, there is no immediate risk to the availability of fuel. The association said the movement of petroleum products is however challenging…

Heavy vehicle fuel supplies from Island View Terminal in the Port of Durban has resumed. In a statement, eThekwini Municipality said the heavy vehicles accessing Island View Terminal have had to use Bluff Road, Lighthouse Road, and Island View Road due to the damage and closure of Bayhead Road. The fuel distribution operation was constrained to 20% of the normal daily supply chain operation strictly during daytime. The fuel industry and…

Some fuel stations in Durban already ran dry on Thursday due to interruptions in supply caused in the aftermath of flooding in KwaZulu-Natal. eThekwini municipality spokesperson, Msawakhe Mayisela confirmed on Friday afternoon that a number of fuel stations have run dry and more might end up in the same situation as demand is expected to pick up. "We are told the supply will likely be restored in about two days,"…

President Putin told Russian officials that the country will seek new markets for its oil and gas.  Some customers have stopped or slowed energy imports from Russia since the Ukraine war began. Since invading Ukraine, Russia has redirected much of its oil exports to Asia. For more stories go to www.BusinessInsider.co.za. Russia is on the lookout for new energy customers domestically and abroad as some markets have rejected its cargoes since…

Sasol will no longer consider gas supply from a planned pipeline stretching from fields in northern Mozambique to its South African operations because it doesn’t want to get stuck with the infrastructure as the world shifts away from fossil fuels, CEO Fleetwood Grobler said. The company, South Africa’s biggest fuel producer, in 2020 said it would potentially buy a small stake in the proposed 2 600km African Renaissance Pipeline -…