No fuel has been imported from Russia to Britain in June for the first time since records began 25 years ago. The British government has banned the import of some Russian products as part of its economic sanctions package. Britain will also phase out imports of Russian oil by the end of the year. Britain imported no fuel from Russia in June for the first time since records began 25…

The answer to SA's energy problems, holding all else constant and considering the complexity of climate change, is building domestic refinery capacity for crude oil, writes Bonga Makhanya. Get the biggest business stories emailed to you every weekday, or go to the Fin24 front page. International trade has started to recover from the Covid-19 pandemic. The recovery in international trade in 2021 was largely due to increased commodity prices, subsiding pandemic restrictions and a strong recovery in…

Get the biggest business stories emailed to you every weekday, or go to the Fin24 front page. South Africa expects TotalEnergies to submit a production plan within weeks to utilise a prolific offshore gas discovery that will form a key part of increasing investment in the sector.Petroleum Agency South Africa is "very confident" that the French major will finish talks with state-owned PetroSA and complete the required output plan to retain the licence, which would otherwise expire…

Transport Minister Fikile Mbalula has hit back at the Organisation Undoing Tax Abuse for raising concern that the fuel levy might be increased to fund the e-tolls system in Gauteng. Mbalula previously said that the e-tolls issue will be raised in the medium-term budget in October. OUTA is speculating that expected fuel price cuts in September could be used as an excuse to increase the fuel levy. Get the biggest business…

The price of 95 unleaded petrol could be lowered by around R2.60 a litre in the first week of September.  This will be thanks to a sharp slump in oil prices, while the rand has gained ground. Oil prices are under pressure amid concern about the Chinese economy, and reports that the Iran nuclear deal could be revived, which will add 2.5 million barrels to the market every day. Get…

Significant decreases to fuel prices across the board are expected in September based on current unaudited mid-month data from the Central Energy Fund (CEF). And, says the Automobile Association (AA), the expected decreases will not be mitigated by any refunds to the General Fuel Levy (GFL), so they will be substantial. “The decreases to fuel prices in August were offset somewhat by the 75c/l for petrol and diesel which were…

The price of 95 unleaded petrol could be lowered by around R2.60 a litre in the first week of September.  This will be thanks to a sharp slump in oil prices, while the rand has gained ground. Oil prices are under pressure amid concern about the Chinese economy, and reports that the Iran nuclear deal could be revived, which will add 2.5 million barrels to the market every day. Get…

Fuel price increases have been relentless over the last few months, putting more pressure on the budgets of South Africans who are filling up their tanks at a much higher cost. Standard Bank’s UCount Rewards Programme is helping consumers to limit the impact of the high fuel price on their budgets by enabling its members to redeem their Rewards Points at Caltex fuel stations around the country. The programme has…

South Africa’s economy will face a price hike by Sasol for gas supply that will add about R325 million a month to the cost, according to an association of users of the fuel. "The current gas pricing uncertainty holds risk" for the biggest buyers, the Industrial Gas Users Association of Southern Africa said in a statement Wednesday, referring to a 96% price increase that took effect August 1. Sasol delivers…

An illegal fitting discovered on Transnet's fuel pipeline between Jameson Park and Alrode in Gauteng on Sunday caused a leak that left emergency workers fighting to contain the spread of a pool of diesel, water and sewerage. The incident comes on the back of a dramatic spike in fuel theft as prices rocket. In its response to questions from Fin24, Transnet Pipelines did not specify how much diesel was spilled.…