Industry News

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02
Nov

Total makes second gas find off South Africa’s southern coast

Total South Africa on Wednesday announced a second gas discovery in the country, a year after another find off the shore of Mossel Bay. The Luiperd well is located in the Outeniqua Basin, some 175 kilometers off the southern coast, which is adjacent to the Brulpadda well, making the region the country's new gas frontier. The company said the site, which covers 19,000 square kilometers will be tested to assess…

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02
Nov

Wanted: A gas supplier. If PetroSA can’t find one, it will shut its refinery

PetroSA has issued a tender to find a company which can supply its embattled Mossel Bay refinery with gas. The refinery was dependent on gas from nearby off-shore fields, but these are running dry. If it can’t find the right the supplier – who also needs to come up with a solution to deliver the gas – it will shut the refinery. For more articles, go to www.BusinessInsider.co.za. This week, the…

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26
Oct

Sasol hopes to restore blue chip status, but has a mountain to climb

Sasol hopes it will emerge from its slump and re-claim its spot as a top blue chip firm. The company's planned rights issue, estimated around $2 billion, is still on the table. It expects units at the US Lake Charles Chemicals project, hit by hurricanes, to be back online by end October. From being crippled by difficult market conditions to suffering the brunt of natural disasters in the US, Sasol's…

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26
Oct

Alleged diesel gang’s bid to recover vehicles, cash and cellphones fails as charges loom

Six men, including two policemen, who allegedly stole diesel have failed to get back their vehicles, cellphones and money that were confiscated by police. Since their arrests there have been no further thefts of diesel from the Transnet pipeline that runs through KwaZulu-Natal, the Pietermaritzburg high court heard this week. Although the men are named in court papers they are not being named because they have not yet been charged.…

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26
Oct

Pipe theft causes crude oil to flow into Durban’s Umbilo River

The theft of a pipe has caused a crude oil spill in the Bellair area, in Durban, affecting the Umbilo River. The river flows into the Durban Harbour. READ | France sends in specialist teams after Mauritius declares oil spill emergency The extent of the environmental impact will be assessed by MEC for Economic Development, Tourism and Environmental Affairs Nomusa Dube-Ncube. "I have assigned a team of environmentalists from my department…

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26
Oct

Vaal diesel thief nabbed in mielie field sentenced

A diesel thief was sentenced to 13 years for the theft of diesel from a Transnet fuel line. Hawks spokesperson Captain Ndivhuwo Mulamu said 27-year-old Batsarai Chimutanga was spotted in a mielie field in Klip River in the Vaal area. He was convicted for the theft of around R300 000 worth of diesel, and for tampering with essential infrastructure. He was arrested in March after investigators got a tip-off about…

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26
Oct

Rand/US dollar exchange rate bring about relief as fuel prices are set for decrease

The AA forecast a decrease in the price of fuel and diesel. • Illuminating paraffin will see an increase. • The rand/US dollar exchange rate played a part in the decrease. • For more motoring stories, go to www.Wheels24.co.za Petrol and diesel prices are likely to fall at month-end, with a small increase predicted for illuminating paraffin. This is according to the Automobile Association, which was commenting on unaudited mid-month fuel price data released…

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12
Oct

Fuel truck blast kills five in Lagos: emergency services

The explosion happened at a depot in the district of Baruwa-Ipaja. Five people have been killed and three others injured. Over 40 houses, 89 shops and many vehicles were also burnt during the explosion. A gas-laden truck exploded and caught fire early Thursday in Nigeria's commercial capital Lagos, leaving five dead and three others seriously injured and destroying dozens of homes and shops, the emergency services said. The incident -…

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12
Oct

WATCH | Aramco doubles down on oil to outlast rivals

Aramco doubles down on oil to outlast rivals The slump in demand for crude during the coronavirus pandemic has forced oil companies to contemplate the possibility that the fossil fuel market has peaked and the time for a global energy transition has come. But as Francis Maguire reports Saudi Ar SOURCE: https://www.news24.com/fin24/markets/commodities/watch-aramco-doubles-down-on-oil-to-outlast-rivals-20201007

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09
Oct

Oil rallies from 3-week low as Trump’s health hope spreads calm

Oil rose from a three-week low after a member of Donald Trump’s medical team said the US President could leave the hospital as soon as Monday, despite contradictory accounts about his health status. Futures advanced 1.6% in New York after the biggest weekly drop since June amid a broader relief rally in Asian stocks. Trump’s condition remained clouded by confusion, with the president making a surprise outing from the medical center in…

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