Industry News

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28
May

Shell loses climate case that may set precedent for ‘Big Oil’

Shell was ordered by a Dutch court to slash its emissions harder and faster than planned The ruling will be scrutinized globally amid a new era of litigation related to climate change. The courts have become an increasingly successful arena for campaigners to hold governments and countries to account over pollution and climate change   Royal Dutch Shell was ordered by a Dutch court to slash its emissions harder and…

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28
May

Small cut in petrol price expected next week, but diesel will go up

The price of petrol is on track for a slight cut, while diesel may head higher next week Wednesday.  SA fuel prices are determined by international oil prices, as well as the dollar/rand exchange rate. While the rand is trading at its best level since 2019, oil has also been rallying. The petrol price should see a slight cut next Wednesday, while diesel prices may head higher. According to the…

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21
May

Mixed outlook for fuel prices in June as oil battles the rand

Ad Currently, the price of petrol may be on track for a slight cut, while diesel may head higher in the first week of June. But this latest price forecast, released by the Central Energy Fund, could still change over the next two weeks as the oil price and rand exchange rate fluctuate.  Of late, oil has moved higher, while the rand breached the R14/$ level last week.   The…

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17
May

Oil and gasoline tumble after the Colonial restarts its pipeline after the cyberattack shutdown

Oil and gas prices fell on Thursday morning after the Colonial Pipeline said it would restart. The pipeline had been targeted in a cyberattack which led to its shutdown. Resulting energy supply shortages had driven up oil and gas prices at the beginning of the week. For more stories, go to www.BusinessInsider.co.za. Oil, gasoline, and diesel prices fell sharply on Thursday, after Colonial Pipeline said it would restart operations following a…

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17
May

Sasol sells 30% stake in Mozambique gas pipe for R5 billion

Sasol agreed to sell a 30% stake in a natural gas pipeline running from Mozambique to South Africa for as much as R5.1 billion as it shores up funds to pay down debt. The deal is part of an accelerated asset-sale program that'll help Sasol reduce borrowings that ballooned amid cost overruns at a giant US chemicals project. The company started hunting for a buyer for its pipeline shares last year as…

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17
May

Fuel outrages spread further across the US even after the hacked Colonial Pipeline began pumping again

The Colonial Pipeline said it resumed operations on Wednesday following a cyberattack last week. Colonial said it will take several days for the supplies to get back to normal. Outages spread late Wednesday, with 71% of stations in NC, and 51% in SC, out of fuel. For more stories, go to www.BusinessInsider.co.za. Gasoline outages continued to spread across the US into Wednesday night as the hacked Colonial Pipeline began to restart…

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17
May

Panic buying shuts down US petrol stations as pipelines begin to reopen

The major US pipeline network forced offline by a cyber attack began to reopen Wednesday, after a five-day shutdown prompted motorists to frantically stock up on petrol. A ransomware attack Friday on Colonial Pipeline forced the company to shut down its entire network, hampering supply in eastern states. Colonial Pipeline operates the largest US fuel conduit system in the United States, which sends petrol and jet fuel from the Gulf Coast…

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17
May

8 photos show the chaos of ongoing petrol shortages across the US

Stations continued to experience petrol shortages Wednesday following the Colonial Pipeline shutdown. Petrol prices passed $3 per gallon as panic buying led to surging demand in the eastern US. The pipeline restarted operations Wednesday, but it may take days for the supply chain to stabilise. Visit Business Insider's homepage for more stories. Petrol shortages across the eastern US continued to spike Wednesday after a ransomware attack knocked out the pipeline that supplies…

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11
May

Hackers shut down US’s largest fuel pipeline, threatening the country’s petrol and diesel supply

The operator of the biggest gasoline pipeline in the US. shut down operations late Friday following a ransomware attack Hacking threats to critical infrastructure have been growing, prompting the White House to respond last month with a plan to try to increase the security of utilities and their suppliers. The attack appeared to use a ransomware group called DarkSide   The operator of the biggest gasoline pipeline in the US.…

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11
May

Petrol prices in South Africa are at an all-time high – and taxes siphon 65% from every litre sold

Only 35% of the price you pay at the pump is for fuel. The rest of the cost of petrol goes towards taxes and levies. In the 2020/21 financial year, a quarter of the petrol price was allocated to the General Fuel Levy, with the embattled Road Accident Fund siphoning a further 14%. Both levies were increased in April. The Automobile Association and Parliament's Portfolio Committee on Mineral Resources and Energy…

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