Eskom has relied extensively on Open Cycle Gas Turbines powered by diesel to meet electricity demand. Soaring global diesel prices will impact Eskom's diesel spend, estimated to exceed R15 billion this financial year. South Africans have experienced 32 days of load shedding so far this year, according to Eskom. As Eskom relies on open-cycle gas turbines, which feed off diesel to meet energy demand, it expects to feel the impact…

While Kaap Agri faced ongoing pressure on its retail category, its agri and fuel operations saw strong revenue growth in the six months to March 2022, CEO Sean Walsh said on Tuesday. During the interim period, group revenue grew by 26.7% to R7.2 billion compared to the previous comparable financial period. EBITDA, which excludes both interest received and interest paid, grew by 13.0%. Headline earnings per share increased by 13.9%…

Load shedding now hits an average of every 2.3 days, mostly at Stage 2. That is despite liberal use of diesel-fired – and expensive – open-cycle gas turbines intended to bridge short gaps. Planned maintenance levels are higher than last year. Now, Eskom's numbers show, unplanned outages are heading towards 30%. For more stories go to www.BusinessInsider.co.za. A third of the way into May, Eskom is setting a record-breaking pace for…

The world doesn't have systems to trace the origins of Russian oil processed outside the country, says Shell's CEO. This means products like diesel or jet fuel refined with Russian crude elsewhere may bypass sanctions. Earlier this week, the EU proposed a ban on Russian oil imports.  For more stories visit Business Insider. The European Union is planning to ban Russian oil, while many other countries are also shunning energy…

Oil rallied on Wednesday, after the EU unveiled a proposal to phase out Russian crude imports within six months. European Commission President Ursula von der Leyen said the aim is to ratchet up pressure on Moscow for its war in Ukraine. "Russian fossil fuels are soon going to be history for western Europe and its allies," one analyst said. For more stories visit Business Insider. Oil and natural gas prices…

Petrol prices will be lowered on Wednesday, while diesel will get pricier, the Department of Mineral Resources and Energy announced on Tuesday. The petrol price (both 93 and 95) will be cut by 12c a litre, while diesel will be hiked by 98c (0.05% sulphur) and 92c (0.005% sulphur). Paraffin prices will increase by 79.60c/l. Local fuel prices are determined by international oil prices, as well as the dollar-rand value,…

Fuel price increases have been relentless over the last few months, resulting in higher operating expenses for businesses who are having to fork out more money for the same amount of fuel consumed previously. Standard Bank fleet card transaction data shows that fleet users paid an average price of R14 per litre of diesel in January, which means that it cost R3 360 to fill up a 60-litre tank four…