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Oil & Gas News

Nigeria passes major oil reform bill after 17 year struggle

By: Reuters     19th January 2018 Nigeria has moved closer to turning an oil industry bill into law after a 17 year struggle to complete the legislation which aims to increase transparency and stimulate growth in the country's oil industry. Nigeria' lower house of parliament has passed a version of the bill which is the same as... 

Nigeria lawmakers look into recovering $21bn revenues from oil groups

By: Reuters     19th January 2018 Nigerian lawmakers ordered an investigation on Thursday into whether the government could recover $21-billion in revenues from international oil companies. Oil minister Emmanuel Ibe Kachikwu said in December the government had failed to enforce a legal provision entitling it to a greater share of... 

Nigeria moves closer to turning long-awaited oil bill into law

By: Reuters     18th January 2018 Nigeria moved closer to turning the first part of a long-awaited oil industry bill into law after the lower house passed the same version of the legislation approved by the Senate last year, a lawmaker in the House of Representatives said on Thursday. It is the first time both houses have... 

Congo Republic plans to join Opec oil cartel

By: Reuters     18th January 2018 Congo Republic plans to join the Opec oil cartel, the government said, as the former French colony presses ahead with projects that could help it become the third-largest oil producer in sub-Saharan Africa. "The Republic of Congo has decided to accede to the Organization of the Petroleum... 

Niger Delta Avengers say they will attack Nigeria's oil sector within days

By: Reuters     17th January 2018 Nigerian militant group Niger Delta Avengers said on Wednesday it planned to launch attacks on the country's oil sector in the next few days. The group claimed responsibility for most attacks on oil facilities in the Niger Delta in 2016, which cut Nigeria's crude production from a peak of... 

Sinopec commits to R6bn upgrade of Chevron South Africa refinery as buyout deal gathers pace

     11th January 2018 Chinese oil company China Petroleum and Chemical Corporation (Sinopec) has undertaken to invest R6-billion to upgrade and modernise Chevron South Africa’s (CSA’s) Cape Town-based oil refinery, if it succeeds in its bid to acquire control of CSA. 

Sinopec commits to R6bn upgrade of Chevron South Africa refinery as buyout deal gathers pace

Fuel prices to drop in January

By: African News Agency      2nd January 2018 The price of fuel products will drop with effect from midnight on Tuesday, according to the energy department. Petrol 93 octane ULP (unleaded) and LRP (lead replacement) will drop by 29 cents a litre (c/ℓ), petrol 95 ULP and LRP by 34 c/ℓ, diesel 0.05 percent sulphur by 22 c/ℓ, and diesel 0.005... 

Fuel prices to drop in January

Oil and gas firm Efora says deal to buy Belton Park lapses

By: African News Agency      2nd January 2018 Oil and gas company Efora Energy said on Tuesday its agreement to acquire the assets and operations of Belton Park Trading 134 had lapsed after outstanding conditions were not fulfilled. In October, Efora said it was buying Belton Park, which markets and sells petroleum products for an aggregate... 

Oil and gas firm Efora says deal to buy Belton Park lapses

Glencore completes sale of majority stake in oil storage assets

By: Reuters     29th December 2017 Diversified miner Glencore announced on Friday that it has completed the sale of a 51% interest in HG Storage International (HGSI) to HNA Innovation Finance Group, subject to certain regulatory approvals and closing conditions by US authorities. HGSI is a new vehicle which has consolidated... 

Glencore completes sale of majority stake in oil storage assets

Supply discipline and demand to prop up oil prices in 2018

By: Reuters     28th December 2017 The Organisation of the Petroleum Exporting Countries (Opec) and Russia's efforts to curb oil output, combined with forecasts for strong global demand growth, are expected to keep crude prices close to $60/bl in 2018, a Reuters poll of analysts showed on Thursday. The survey of 32 economists and... 

Supply discipline and demand to prop up oil prices in 2018

Group Five expects material earnings impact as Kpone drags

By: Megan van Wyngaardt     19th December 2017 Owing to a number of delays at construction company Group Five’s $410-million independent gas- and oil-fired combined cycle power plant Kpone contract in Ghana, the company expects to report an impact on its group earnings and cash in the first half of 2018. The company was contracted to design,... 

Proposed carbon tax ‘least-cost manner’ to ensuring greenhouse-gas reduction – Treasury 

By: Schalk Burger     15th December 2017 The National Treasury released the Second Draft Carbon Tax Bill for public comment on Friday and averred that it “seeks to give effect to the polluter pays principle . . . and will assist, in a least-cost manner, in reducing greenhouse-gas (GHG) emissions and ensuring that South Africa meets its... 

CGS discovers fresh water resource in Beaufort West 

By: African News Agency      13th December 2017 An unprecedented discovery of a fresh water resource has been found in Beaufort West, Western Cape, the Department of Mineral Resources said on Tuesday.  According to the department, the resource was discovered by the Council for Geoscience (CGS), a statutory science council reporting to the... 

Kosmos Energy to plug offshore Mauritania well

By: Reuters     12th December 2017 Kosmos Energy said it would plug one of its exploration wells offshore Mauritania after it failed to find significant amount of oil and gas. Evaluation of logs and samples collected during drillingand wireline operations suggests the Campanian reservoir objective was water-bearing with some... 

DA consulting lawyers on legality of energy blueprint

By: African News Agency      11th December 2017 The Democratic Alliance said on Monday it was taking legal advice on the approval of government’s new Integrated Resource Plan (IRP), which envisions nuclear procurement. Democratic Alliance energy spokesperson, Gavin Davis, said the apparently rushed approval of the policy blueprint with no... 

Zuma promises ‘seamless’ ANC transition at energy indaba that sidesteps IRP debate 

By: Terence Creamer     7th December 2017 President Jacob Zuma used his address at the Energy Indaba, taking place in Johannesburg this week, to assure business and investors that the upcoming African National Congress (ANC) elective conference would be “orderly and peaceful”, while promising a “seamless” handover to the new ANC... 

Zuma promises ‘seamless’ ANC transition at energy indaba that sidesteps IRP debate
President Jacob Zuma and Energy Minister David Mahlobo

Total, Sonangol sign new project pipeline agreements

By: Schalk Burger     5th December 2017 Oil and gas multinational Total and Angola State-owned oil company Sonangol have signed various agreements to jointly develop new upstream and downstream projects. Total chairperson and CEO Patrick Pouyanné on Monday held an audience with Angolan President João Lourenço and Sonangol chairperson... 

Vivo to gain 300 stations in 9 African countries in Engen share transaction

By: Schalk Burger     5th December 2017 Petroleum and energy company Vivo Energy, which represents oil multinational Shell’s brand of fuels and lubricants in Africa, will gain 300 service stations across nine African countries after it agreed to buys shares in oil multinational Engen International Holdings from Engen Holdings in... 

Second Norway-South Africa Science Week to stimulate oceans science and economy 

By: Schalk Burger     1st December 2017 The second Norway-South Africa Science Week will provide a platform for scientists, researchers, civil servants and business people from both countries to share best practices and policies to promote the sustainable use of ocean resources. Norwegian ambassador to South Africa, Botswana,... 

Second Norway-South Africa Science Week to stimulate oceans science and economy
Norway Ambassador to South Africa, Botswana, Madagascar and Nambiia Trine Skymoen discusses the upcoming Norway-South Africa science week. Video and editing: Nicholas Boyd.

Withdrawal of entire MPRDA only constitutionally acceptable solution – Leon

By: Martin Creamer     28th November 2017 The process of reconsidering the Mineral and Petroleum Resources Development Act (MPRDA) Amendment Bill has generated a new range of procedural missteps and failed to address any of the substantive problems in the Bill, leaving the entire withdrawal of the Bill as the only constitutionally... 

Withdrawal of entire MPRDA only constitutionally acceptable solution – Leon
Photo by Duane Daws
Herbert Smith Freehills Africa co-chair and partner Peter Leon.

Growing domestic demand at heart of plan to create a million manufacturing jobs 

By: Terence Creamer     24th November 2017 The Manufacturing Circle released a plan on Friday outlining how South Africa could create a million jobs over a ten-year period through pursuing a series of reforms designed at stimulating demand for South African manufactured products and improving the investment climate. The 48-page document,... 

Growing domestic demand at heart of plan to create a million manufacturing jobs
Photo by Duane Daws
Trade and Industry Minister Dr Rob Davies and Manufacturing Circle chairperson André de Ruyter

Company expands diesel supply to include buses

By: Tasneem Bulbulia     24th November 2017 Wholesale prices fuel supplier Next Grace Investments is providing a valuable diesel supply solutions for clients in the bus and truck industry. During the Gauteng Bus Indaba and Strategic Planning Workshop, held in September at the Nasrec Expo Centre, in Johannesburg, Next Grace Investments... 

Company expands diesel supply to include buses
PARKING THE BUS Next Grace Investments’ depots enables buses and trucks to refuel and park at the facilities, while drivers have access to food and shower facilities

Sasol’s new strategy shuns GTL as specialty chemicals emerge as key growth driver

By: Terence Creamer     23rd November 2017 Chemicals and energy group Sasol is preparing to sell several assets, including its Canadian shale gas assets, following an overhaul of its corporate strategy, which eschews any further greenfield gas-to-liquids (GTL) investments in favour of smaller acquisitions and projects of between... 

Sasol’s new strategy shuns GTL as specialty chemicals emerge as key growth driver
Photo by Duane Daws
Sasol joint CEOs Bongani Nqwababa and Stephen Cornell

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... 

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'

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

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... 

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
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