Industry News

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29
Jul

Top oil producers expected to agree on output boost

The world's leading oil producers meet later on Sunday, with observers expecting an agreement to modestly boost output from August, after the United Arab Emirates blocked a deal earlier this month. Days of negotiations of the OPEC+ grouping to continue to further ease production cuts ended without agreement on July 5, exposing a row between the world's largest oil exporter Saudi Arabia and brash neighbour the United Arab Emirates. Since…

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29
Jul

Rules prohibiting the sale of petrol and diesel in containers will be revised

The Department of Mineral Resources and Energy has provided clarity on regulations prohibiting the retail sales of petrol and diesel in containers. After receiving concerns about the regulation, the department indicated that it will issue an amendment to the definition of "container". The department also clarified that fuel supplies in areas affected by unrest is returning to normal.   The Department of Mineral Resources and Energy (DMRE) will revise regulations…

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29
Jul

Food, fuel shortages: New emergency rules allow companies to work together

Amid looming food and fuel shortages, new, temporary regulations have been implemented that will allow suppliers of essential goods to openly share information with each other about inputs, stock levels and demand for products.    In normal times, this would be seen as collusion and anti-competitive behaviour. But government says it's necessary to prevent critical shortages. In response to looming shortages in food and fuel due to the unrest in…

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29
Jul

Petrol prices set for whopping increase as fuel ‘hammered from all sides’

Ad Mid-month data suggest petrol is set to increase by a whopping 87 cents per litre as fuel is "hammered from all sides", the Automobile Association (AA) said on Wednesday. The AA, which does not itself regulate or adjust fuel prices in SA, publishes two fuel outlooks per month, based on data issued by the Central Energy Fund. In a statement on Wednesday, it said in addition to the forecast…

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29
Jul

SA bans pumping petrol into portable containers in response to unrest and panic buying

Petrol stations in South Africa "may not retail and dispense petrol or diesel into a container." This is according to the latest regulations issued in terms of the Petroleum Products Act by the mineral resources and energy minister on Thursday, which are yet to be officially gazetted. This is "in the interests of public safety associated with the ongoing unrest" according to the minister. The civil unrest in Gauteng and…

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29
Jul

Fuel supplies stable, situation assessed hourly – industry body

Ad The availability of petroleum products is currently stable, according to the SA Petroleum Industry Association. The body noted that some operations in KwaZulu-Natal, Gauteng and Mpumalanga have been temporarily suspended - for the safety of people and protection of assets. The industry is assessing and making decisions hourly, and engaging with the Department of Mineral Resources and Energy to make sure adequate supply is maintained. The availability of petroleum…

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29
Jul

Limited fuel may last few more days

If the unrest continues, it spells trouble for motorists, as fuel resources are slowly being depleted. Many garages remained closed to the public, however the few that were open on Tuesday said they were extremely busy with patrons trying to fill their tanks. They also said that their resources were being depleted and that they probably only have enough supply for one more day. Many people in the province took…

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29
Jul

SA’s largest crude oil refinery implements temporary shutdown owing to unrest

Shell and BP South African Petroleum Refineries (Sapref), responsible for 35% of South Africa's refinery capacity, has implemented a force majeure due to ongoing unrest. The refinery, headquartered in Durban, is the largest crude oil refinery in South Africa. It processes 24 000 tons of crude per day and produces 2.7 billion litres of petrol per year. However, due to riots affecting Sapref's supply routes, it has decided to implement…

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30
Jun

Petrol prices look set to rise by 23c a litre, and diesel by 38c in July, the AA says. Oil prices have rallied to the highest levels since 2018 amid expectations that global demand may return to pre-pandemic levels sooner than expected.  The rand's "alarming" slump over the past two weeks could bring more bad news. South Africans will face fuel price hikes in July. Using current information from the…

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30
Jun

Pain at the pump: Fuel price hikes now expected in July

Unleaded 95 petrol may be hiked by 14c a litre, while unleaded 93 could rise by up to 18c and diesel prices could be more than 34c higher.  Oil prices have rallied to the highest levels since 2018 amid expectations that global demand may return to pre-pandemic levels sooner than expected.  There is still some time for July fuel prices to change, as oil and the rand fluctuate. South Africans…

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