Despite the rand crashing to record low levels last week, fuel prices currently still look set for a cut at the start of June. Based on the latest oil and rand prices, the latest data from the Central Energy Fund shows that diesel prices could be lowered by R1.06 to R1.13 a litre, depending on the grade. Petrol (both 95 and 93 unleaded) could be cut by around R1 a…

For more financial news, go to the News24 Business front page. Shell unveiled Thursday a sharp jump in profits, capping a blockbuster first-quarter earnings season for global energy majors that have shrugged off weaker gas and oil prices. BP and Shell in Britain, ExxonMobil and Chevron in the United States, and TotalEnergies in France have together logged more than $40 billion in net profits for the three months to March. "Looks…

British energy giant Shell on Thursday posted soaring first-quarter profit, as falling costs and a better performance at its chemicals division offset lower gas and oil prices. Profit after tax leapt 22 percent to $8.7 billion (R160 billion) from a year earlier, when it had faced a large $3.9 billion charge over its exit from Russia after Moscow invaded Ukraine. Adjusted earnings rose six percent to 9.6 billion and revenue…

MTN Group said its largest operating unit added a net 1.1 million new subscribers, taking its total active user base to 76.7 million Nigerians during the quarter ended March 2023. MTN Nigeria released its first quarter results in that country on Thursday. The  rollout of improved communications infrastructure brought an additional 170 5G sites across the oil-producing nation, taking data coverage to 4% of the population of over 200 million…