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Oil & Gas News

Sasol shareholders approve new R21bn BEE structure

By: Megan van Wyngaardt     17th November 2017 Sasol Khanyisa, a R21-billion broad-based black economic empowerment (BBBEE) ownership structure, has been granted formal approval by Sasol shareholders. “We are delighted with this outcome as it marks a significant milestone in Sasol’s transformation journey. Sasol Khanyisa will be implemented... 

SNC-Lavalin signs multiyear agreement with Chevron

By: Anine Kilian     16th November 2017 Project management company SNC-Lavalin has inked a multiyear agreement with oil producer Chevron South Africa’s crude oil refinery in Cape Town, which will run until August 31, 2020.     As per the agreement, SNC-Lavalin’s scope of work includes the mechanical maintenance services of various... 

Shell, AfriForum, TKAG to discuss Karoo fracking

By: Megan van Wyngaardt     15th November 2017 Shell South Africa country chairperson Hloniphizwe Mtolo will meet with civil rights and environmental protection organisations AfriForum and Treasure the Karoo Action Group (TKAG) to discuss environmental, legal and economic concerns over fracking. The groups received an official commitment from... 

Isabel dos Santos dismissed as chair of Angola's Sonangol – Presidency

By: Reuters     15th November 2017 Angolan President Joao Lourenco has dismissed Isabel dos Santos as chair of the country's State oil company Sonangol, the President's spokesperson said on Wednesday. Dos Santos will be replaced by Carlos Saturnino, a former Sonangol executive who was most recently secretary of state for oil. 

Solidarity ranks SOEs, lambastes 'cadre merry-go-round'

By: Anine Kilian     14th November 2017 Trade union Solidarity has ranked South African Airways (SAA) as the most poorly managed State-owned enterprise (SOE) in the country. Speaking at the launch of its latest report ‘South African State Institutions and the Value for Tax Money’, on Wednesday, Solidarity CEO Dirk Hermann said SAA... 

Solidarity ranks SOEs, lambastes 'cadre merry-go-round'

Ghana opens talks with Exxon on deepwater drilling contract

By: Reuters     14th November 2017 Ghana has opened talks with Exxon Mobil Corp to allow the US oil firm to undertake deepwater exploration off its coast, a deputy energy minister said on Monday. "The negotiations are ongoing according to our current laws ... so far so good," Mohamed Amin Adam told Reuters on the sidelines of an... 

Tullow Oil raises FY production guidance on Ghana fields

By: Reuters     13th November 2017 Tullow Oil raised its production guidance on Wednesday, aided by higher output from its TEN and Jubilee fields in Ghana. The company now expects full-year West Africa net oil production, including production-equivalent insurance payments, to come in at 85 000 bbl/d to 89 000 bbl/d, compared with... 

400 emergency shutdown valves supplied to Oman petrochemicals project

     10th November 2017 Industrial product supplier Metso supplied 400 industry-leading Neles emergency shutdown (ESD) valves for an ethylene cracker as part of the new Liwa Plastics Industrial Complex (LPIC) project in Oman. The new complex will process light ends produced in State-owned oil company Oman Oil Refineries... 

400 emergency shutdown valves supplied to Oman petrochemicals project
SOHAR REFINERY Orpic is undertaking strategic growth projects including the Sohar Refinery Improvement Project and the Liwa Plastics Industrial Complex

Petrochemicals product supplier launches ball valve

     10th November 2017 Last month, multinational oil and gas product supplier Schlumberger announced the release of the GROVE IST integrated seat technology ball valve. The company, which has an Angolan office that services the Democratic Republic of Congo, Gabon, Kenya, Mozambique, Namibia, South Africa, Tanzania, and... 

Gas company secures onshore petroleum production right

By: Mia Breytenbach     10th November 2017 The Petroleum Agency of South Africa has granted integrated alternative and renewable-energy business Renergen’s Tetra4 subsidiary environmental authorisation for its Free State natural gas development. The authorisation, the processing of which has taken more than two years, with multiple rounds... 

Gas company secures onshore petroleum production right
PRODUCTION EXPANSION While Tetra4 already produces compressed natural gas, new expansions will include the liquefaction of the gas – the first in South Africa

Large oil traders escape EU's MIFID II trading rules, for now

By: Reuters     9th November 2017 Less than two months before strict European Union rules on derivatives come into force, most large oil traders have persuaded regulators to exempt them for now from limits on the positions they can hold, arguing they are not speculators. The EU's revamped Markets in Financial Instruments... 

Tullow Oil raises FY production guidance on Ghana fields

By: Reuters     8th November 2017 Tullow Oil Plc raised its production guidance on Wednesday, aided by higher output from its TEN and Jubilee fields in Ghana. The company now expects full-year West Africa net oil production, including production-equivalent insurance payments, to come in at 85 000 bbl/d to 89 000 bbl/d compared... 

Chad and Glencore to meet in Paris on Monday to discuss debt – govt sources

By: Reuters     6th November 2017 Chadian government officials will meet Glencore executives in Paris on Monday to discuss restructuring the country's debt, two senior Chadian government sources with knowledge of the matter told Reuters on Sunday. Chad has been trying renegotiate its hefty external commercial debt to Glencore,... 

Niger Delta Avengers group says ends ceasefire in Nigeria oil hub – website

By: Reuters     3rd November 2017 Nigerian militant group Niger Delta Avengers said on Friday its ceasefire on attacks in the country's southern oil-rich region was at an end. "We can assure you that every oil installation in our region will feel the warmth of the wrath of the Niger Delta Avengers," the group said in a statement... 

Fertiliser maker Yara may build $2bn Mozambique gas-fired plant

By: Reuters     2nd November 2017 Norwegian fertiliser maker Yara International is considering building a $2-billion plant in Mozambique and may seek partners to share the cost, the chief executive said. Mozambique awarded Yara a project in January to make ammonia and urea from the country's gas output, saying the firm could... 

Global oil exploration dips to 60-year low

By: Natasha Odendaal     1st November 2017 With exploration activity waning, global oil and gas exploration has reached an historic low, according to the latest PwC Africa oil and gas review 2017, which highlights just three new major discoveries in Africa during 2016 and the first half of 2017, compared with 11 in 2015. In 2016, there... 

Global oil exploration dips to 60-year low

Renergen reports modest interim results

By: Anine Kilian     31st October 2017 JSE-listed alternative and renewable energy business Renergen’s revenue increased by 179% to R1.4-million in the half-year ended August 31, bolstered by a higher diesel price following a weaker rand and higher oil prices in the period under review. The company’s cost of sales increased by 381% to... 

Top 250 firms emit third of CO2; few have strong goals to cut-study

By: Reuters     31st October 2017 The world's 250 biggest listed companies account for a third of all man-made greenhouse-gas emissions yet few have strong goals to limit rising temperatures, a study showed on Tuesday. Coal India, Gazprom and Exxon Mobil topped the list when measuring carbon dioxide emitted by companies and by... 

Financial results exhibit value-based growth

     27th October 2017 In the 2017 financial year, energy and chemicals company Sasol’s results portrayed value-based growth on a robust foundation owing to a strong business performance across most of the value chain. 

Financial results exhibit value-based growth
STRONG PERFORMANCE The company’s strong cost performance was achieved by the sustainable delivery of its Business Performance Enhancement Programme and Response Plan

Company mitigates refinery industry challenges

By: Marleny Arnoldi     27th October 2017 Amid the weak demand and low prices that have hampered strategic decision-making and stalled planning for the oil and gas industry globally, specialised engineering company RTS Africa Engineering says improved technologies facilitating the understanding of process variables allow for cautious... 

Company mitigates refinery industry challenges
MEASURING HYDROGEN The Hy-Optima 2700 series hydrogen analysers uses a solid-state, non-consumable sensor that is configured to operate in process gas streams

Continued volatility impacts on energy and chemicals company

     27th October 2017 Continued volatility in the macroeconomic environment, particularly the stronger rand and low oil price, has adversely impacted energy and chemicals company Sasol’s financial performance, says Sasol CFO Paul Victor. 

Continued volatility  impacts on energy and  chemicals company
Photo by Bloomberg
RECORD PRODUCTION Sasol showed great resilience and character through delivering record production volumes at Secunda Synfuels

CTL beneficial as a synfuel

By: Marleny Arnoldi     27th October 2017 Depending on market forces and subsequent regulations, coal-to-liquids (CTL) as a fuel alternative could be beneficial for the synfuels industry, especially for companies that diversify outside of conversion processes to include other capabilities, says synfuel company Synfuels Americas.  

CTL beneficial  as a synfuel
JUDD SWIFT The cost of cleaner resources and technology makes conversion unreasonable for developing economies

First synthetic Blue Crude plant to start operation in 2020

     27th October 2017 The mass production of the environment-friendly synthetic crude oil substitute Blue Crude will become a reality from 2020, says research and development company Sunfire.  

First synthetic Blue Crude plant to start operation in 2020
GOING BLUE Refineries can use Blue Crude as a raw material for waxes, and petrol, diesel, kerosene and even rocket fuel

Initiatives aim to reduce carbon footprint and production costs

By: Simone Liedtke     27th October 2017 Current initiatives in the global synthetic fuels (synfuels) industry are focussing on using coal feedstock more efficiently to reduce operational and capital costs of production, states chemicals process engineering company Holland and Hausberger CEO Dr Brendon Hausberger. 

Initiatives aim to  reduce carbon footprint and production costs
GENERAL PUBLIC PERCEPTION The general public perception is that coal is a dirty and undesirable environment-costly option

Sasol mitigates material matters issues in 2017

     27th October 2017 To mitigate material matters that could substantially affect its ability to create value in the short, medium or long term, as a result of not being able to execute its strategy and the impact thereof on its ability to stay competitive, petrochemicals giant Sasol has outlined a five-step process... 

Sasol mitigates material matters issues in 2017
MANAGING MATTERS Sasol reviews and monitors material matters through stakeholder inclusiveness always keeping a sustainability context in mind

Chad hires Rothschild to advise on $1bn Glencore debt – sources

By: Reuters     26th October 2017 Chad has hired Rothschild & Co to advise it on restructuring its external debt, namely a more than $1-billion loan from oil trader Glencore, four sources familiar with the matter said. The International Monetary Fund has said the debt held by Chad, one of the world's poorest nations that relies... 

Oil prices still struggling but huge potential ahead for Africa

By: Kim Cloete     26th October 2017 Experts from UK-based Standard Chartered Bank expect the oil price will remain in the $45/bl to $60/bl-plus range. “We are in a lower for a longer cycle,” Standard Chartered Bank global head of energy and natural resources Peter Gaw told delegates at the Africa Oil Week, in Cape Town. 

Nigeria's gasoline price cap hurting industry, costing economy

By: Reuters     26th October 2017 Nigeria must remove its gasoline price cap to prevent shortages, enable investment and keep the government from using valuable resources to import fuel, delegates at the OTL Expo in Lagos said on Wednesday. Gasoline is a highly charged subject in Nigeria, Africa's largest oil exporter. President... 

US to strengthen energy partnerships in Africa, says US Energy Secretary

By: Kim Cloete     25th October 2017 US Energy Secretary Rick Perry says his government is committed to strengthening its energy partnerships with African countries, but has called for a clear and transparent regulatory environment. “There is no more important message that governing bodies can send to both the US government and the... 

US to strengthen energy partnerships in Africa, says US Energy Secretary
US Energy Secretary Rick Perry

Uganda expects up to $20bn oil sector investment in next 3 to 4 years

By: Reuters     25th October 2017 Uganda expects investments of $15-billion to $20-billion in its oil industry in the next three to four years, Ernest Rubondo, executive director of Uganda's petroleum authority, told a conference in Cape Town. 

Nigeria oil minister says prices encouraging, Opec not ruling out more cuts

By: Reuters     24th October 2017 Nigeria is targeting oil production of 1.8-million barrels per day by early next year but that will be the ceiling to comply with Opec targets its oil minister said in Tuesday. Emmanuel Ibe Kachikwu also told reporters at an oil conference in Cape Town that oil prices were encouraging but Opec,... 

Nigeria's new 650 000 bbl/d Dangote refinery seen online end 2019

By: Reuters     24th October 2017 A new 650 000 bbl/d refinery being built by Africa's richest man in Nigeria is expected to come onstream by the end of 2019, Nigeria's Minister of State for Petroleum Resources Emmanuel Ibe Kachikwu said on Tuesday. Kachikwu said Africa's biggest economy was also close to finalising the process... 

Angola's Lourenco orders review of oil sector, appoints oil head

By: Reuters     23rd October 2017 Angola's new president has ordered a 30-day review of the nation's oil industry to address the "significant" challenges it faces, his first foray into the key business since he took office last month. President Joao Lourenco directed a working group to determine how it can "improve the current... 

New AfDB, OpenOil report shows gaps in extractive resources management

By: Natasha Odendaal     20th October 2017 The African Development Bank (AfDB) and Berlin-based financial analysis firm OpenOil are hoping to trigger a new debate within Africa’s oil and gas and mining sectors with the publication of a jointly produced report on how African governments use financial models to manage projects. In an effort... 

Local gas company trials diesel dual-fuel kits on long-haul trucks

By: Mia Breytenbach     20th October 2017 As fleet operators increasingly aim to enhance fuel efficiency and reduce costs, natural gas company Tetra4, a subsidiary of JSE-listed energy company Renergen, has started trialling diesel dual-fuel (DDF) kits on two European brands of trucks to establish the advantages of natural gas as a fuel... 

Local gas company trials diesel dual-fuel kits on long-haul trucks
SAVINGS PURSUIT Indicative results can play a role in the development of an alternative cost-saving methodology for fleet owners and in pursuing and encouraging fleet optimisation

Renergen interim losses widen

By: Anine Kilian     17th October 2017 JSE-listed alternative energy company Renergen expects to report a loss a share and headline loss a share of between 19.85c and 22.39c for the six months ended August 31. This reflects a 56% to 76% widening on the 12.73c loss a share and headline loss a share for the first half of the prior... 

Energy Minister Kubayi denies her secondment of Zulu to fuel fund was illegal

By: African News Agency      10th October 2017 Energy Minister Mmamoloko Kubayi on Tuesday told MPs she had no doubt about the legality of her secondment of former director general Thabane Zulu to the Strategic Fuel Fund as its acting chief executive officer, but stopped short of assuring them it had been approved by the board of the entity.... 

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