German capital Berlin is turning off 1,400 spotlights highlighting historic monuments and buildings. Munich and Hanover are taking similar steps, including limiting heating ahead of winter. Germany is facing an energy crisis as major supplier Russia has cut natural-gas supply. Cities in Germany are turning off the lights and heating in an effort to save natural gas and build up reserves ahead of winter. Berlin, Germany's capital, started turning off 1,400…

Vehicle-recovery and fleet-intelligence company Netstar reports that the theft and hijacking of tankers are on an upward trend. The company says that from January to June, hijackings and thefts among their customers rose by 24%. Charles Morgan, the company’s operations executive, says fuel tankers belonging to Netstar’s fleet customers have seen a dramatic rise. Morgan says: There are indications that fuel tankers are becoming a target. “In a recent case,…

Get the biggest business stories emailed to you every weekday, or go to the Fin24 front page. South Africans will be getting some relief at the petrol pumps with fuel price cuts in August, the Department of Mineral Resources and Energy confirmed on Wednesday. According to the latest data from the Central Energy Fund, petrol prices currently look set for cuts of between R1.19 and R1.22 per litre, depending on the grade of fuel. Diesel could…

Sasol said on Monday that oil supply to its crucial Natref refinery has slowly started up again Sasol declared force majeure on the supply of petroleum products on 15 July, due to delays in delivery in crude oil shipments to Natref Sasol also said that its fuel production dropped 10% in the financial year to end in June, mainly due to a postponed annual plant shutdown, coal supply and quality challenges…

Warren Buffett's company has bet about $27 billion on Chevron and Occidental Petroleum this year. The Berkshire Hathaway CEO has discussed the oil business many times over the years. Here are eight of Buffett's most insightful quotes about investing in oil companies. For more stories go to www.BusinessInsider.co.za. Warren Buffett's Berkshire Hathaway has waded deep into the oil business this year, plowing an estimated $27 billion into two fossil-fuel stocks. The famed investor's…

It’s national savings month, and we are awash with well-intentioned messages encouraging South Africans to save. But is the savings message realistic when many can’t meet their basic needs at the end of the month, writes Deon Nobrega. Get the biggest business stories emailed to you every weekday, or go to the Fin24 front page. We’ve all seen the headlines lamenting rising inflation, petrol price increases, and the soaring cost of basic food items like cooking oil…

The formal process to deregulate the price of petrol has started. Energy minister Gwede Mantashe on Friday gazetted his "intention to introduce a price cap" for 93 octane. That will allow retailers to discount petrol however they see fit, something that is currently illegal. The idea was formally floated in March. Mantashe has been sitting on the pronouncement that kicks off the process for three weeks. For more stories go…

While motorists will pay the full fuel levy for the first time in months in August, there may be some price relief thanks to a weaker oil price.   At the current oil prices, Central Energy Fund data point towards cuts of more than 50c in petrol. However, there is still some time to go before prices are determined. Get the biggest business stories emailed to you every weekday, or go to the Fin24 front page. After much pain…

South Africa has been left without a single operating oil refinery after Sasol closed Natref amid delayed oil deliveries. Sasol says it doesn't expect supply shortages at fuel stations, for now.  Fuel imports will be ramped up, and Sasol's coal-to-fuel plant is at full capacity. Get the biggest business stories emailed to you every weekday, or go to the Fin24 front page. At this stage, petrol or diesel shortages are not expected at fuel stations, after South…

Sasol, South Africa’s largest fuel producer, declared force majeure on the supply of petroleum products due to delays in deliveries of crude to the Natref refinery it owns with TotalEnergies, leaving just a fraction of the country’s fuel-production capacity still operational. Natref, a 108 000 barrel-a-day plant, was forced to shut after the late oil shipments, the company said in a statement. “Sasol Oil will not be in a position…