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Oil & Gas News

Pumps range included in offering to cater for demand

By: Simone Liedtke     24th March 2017 Technical solutions provider Bearing Man Group (BMG) is strategising to enhance its fluid technology services to meet growing market demand in diverse industries, including the pumps industry. 

China's Sinopec buys first major refinery in Africa from Chevron

By: Reuters     22nd March 2017 China's Sinopec will pay almost $1-billion for a 75% stake in Chevron Corp's South African assets and its subsidiary in Botswana to secure its first major refinery in Africa, the companies announced on Wednesday. China Petroleum and Chemical Corp, or Sinopec, Asia's largest oil refiner, said the... 

Algerian State energy firm Sonatrach replaces CEO

By: Reuters     20th March 2017 Algerian state energy firm Sonatrach has replaced CE Amine Mazouzi after less than two years in the job, naming Abdelmoumen Ould Kadour to replace him, the energy ministry said on Monday. A statement from the ministry gave no reason for the change. Ould Kadour is an engineer who graduated from... 

Sunrise Energy secures two international deals for LPG terminal

By: Creamer Media Reporter      20th March 2017 Sunrise Energy has secured two commercial contracts with international traders and their South African joint venture partners for the sourcing and importation of liquefied petroleum gas (LPG) through its new import and storage facility in the Western Cape. The R1.2-billion open-access Sunrise... 

Nigerian court overturns seizure of oilfield from Shell and Eni

By: Reuters     17th March 2017 A Nigerian court on Friday overturned a request by Nigeria's financial crimes agency to seize an oilfield from Royal Dutch Shell and Eni. In January, a court had ordered the seizure of the OPL 245 oil block and transfer of operations to the federal government on the request of the Economic and... 

China's Sinopec nears deal to buy Chevron's South African oil assets – sources

By: Reuters     17th March 2017 China Petroleum and Chemical Corp (Sinopec) is nearing an agreement to buy a majority stake in Chevron Corp's South African assets, which are estimated at $1-billion, two people familiar with the transaction said. The sources said that Sinopec, Asia's largest oil refiner, was the last bidder... 

Amid challenges, power sector offers massive opportunities

By: Nadine James     17th March 2017 Although the power and electricity sector in Africa faces massive challenges, it also offers massive opportunities, says Power & Electricity World Africa (PEWA) event organiser Terrapinn.  

Amid challenges, power sector offers massive opportunities
MOMENT IN THE SUN Africa’s largest power and electricity event offers innovative, cost-effective means of tackling Africa’s power challenges

Sasol officially launches 2017 GTC Championship

By: Megan van Wyngaardt     16th March 2017 The Sasol GTC Championship team on Thursday welcomed newest team member Robert Wolk, who will be behind the wheel of the team’s BMW GTC racer. Thirty-one-year-old Wolk replaces Hennie Groenewald, who stepped down to start a new business venture in Cape Town. Wolk has been racing since the age of... 

Sasol officially launches 2017 GTC Championship

Peugeot's Tavares and Anglo American's Cutifani to join Total board

By: Reuters     16th March 2017 French oil and gas company Total plans to appoint Mark Cutifani, CE of mining group Anglo American, and Carlos Tavares, chairperson of French carmaker Peugeot, as independent directors. Cutifani will bring his knowledge of industry and the raw materials sector to the board, while Total will also... 

Expect more oil price volatility over the coming months – Vitol

By: Kim Cloete     15th March 2017 A continuing massive stock overhang could contribute to more volatility in the oil price over the coming months, says energy and commodities company Vitol global analyst Simon Warren. He told delegates at the yearly conference of the African Refiners Association (ARA), in Cape Town, that despite... 

South Africa's Engen to ship gasoil to Singapore in rare move – sources

By: Reuters     15th March 2017 South African petroleum company Engen is set to export a gasoil cargo to Singapore, according to trade sources and shipping data. The company has provisionally booked the Torm Horizon to transport 35 000 t of gasoil to Singapore from Durban, shipping fixtures showed. 

Egypt replaces heads of state oil and gas companies

By: Reuters     15th March 2017 Egyptian Oil Minister Tarek al-Molla has replaced the heads of state oil company EGPC and state gas company EGAS, the Ministry of Petroleum said in a statement on Tuesday. Abed Ezz el-Regal will replace Tarek al-Hadidi, appointed in April 2016, as head of EGPC while Osama Al Bakly will take over... 

Bleeding at South Africa’s State-owned oil company continues, MPs told 

By: African News Agency      14th March 2017 State-owned oil company PetroSA is set to suffer a projected devaluation of assets of R1.1-billion this financial year in addition to the R14.5-billion impairment it suffered in the 2014/15 financial year, MPs heard on Tuesday. Briefing parliament’s portfolio committee on energy, PetroSA board... 

Bleeding at South Africa’s State-owned oil company continues, MPs told

Oil still main energy source in 2035 – petroleum company

     10th March 2017 Petroleum company British Petroleum’s (BP’s) 2017 Energy Outlook notes that oil, gas and coal will remain the main sources of energy for powering the world economy, accounting for more than 75% of total energy supply in 2035, compared with 86% in 2015.  According to the outlook, which was... 

Oil still main energy source  in 2035 – petroleum company
NEW KID IN TOWN Petrochemicals will take over as the main source of growth for oil demand by the early 2030s

Exxon to buy stake in gas block offshore Mozambique for $2.8bn

By: Reuters     9th March 2017 Exxon Mobil Corp said on Thursday it would buy a 25% stake in a natural gas-rich block, offshore Mozambique, from Italy's Eni for $2.8-billion in cash. The offshore gas reserves discovered by Eni in Mozambique are large enough to need a giant liquefied natural gas (LNG) export plant. 

Australia's FAR says Senegal oilfield could start earlier than expected

By: Reuters     9th March 2017 Australia's FAR, a partner in an oilfield off Senegal, on Thursday said the project could start producing before 2021, earlier than previously touted, and at a higher rate than flagged before. Operator Cairn Energy and FAR released updates this week following drilling on their latest well, SNE-5,... 

Chevron field in Angola starts oil production – Sonangol

By: Reuters     8th March 2017 The Chevron operated Mafumeira Sul field in Angola began oil production in October 2016 and will start supplying gas for export in the second quarter of this year, state energy firm Sonangol said on Wednesday. The Mafumeira Sul project has the capacity to produce 150 000 bbl of oil and... 

Sacoil buys majority stake in Afric Oil

By: African News Agency      6th March 2017 Sacoil, the South African based independent African oil and gas company, said on Monday that it had acquired a 71% interest in Afric Oil Group, one of the largest independent fuel distributors in South Africa. Following completion, Sacoil’s portfolio will consist of operated production activities... 

Titans of oil world meet in Houston after two-year price war

By: Reuters     6th March 2017 The biggest names in the oil world come together this week for the largest industry gathering since the end of a two-year price war that pitted Middle East exporters against the firms that drove the shale energy revolution in the United States. When Opec in November joined with several non-Opec... 

Nigerian lawmakers to investigate $17bn subsidies received by State oil firm

By: Reuters     2nd March 2017 Nigeria's upper house of parliament will investigate allegations the state oil company illegally inflated funds it collected from an official subsidy scheme to 5.1-trillion naira ($17-billion) between 2006 and 2015, lawmakers said on Wednesday. The Senate's decision to launch an investigation... 

Nersa increases petroleum pipeline tariffs by 0.30%

By: Megan van Wyngaardt     28th February 2017 The National Energy Regulator of South Africa (Nersa) has increased petroleum pipeline tariffs by 0.30%, allowing Transnet Pipelines to realise a 1.43% year-on-year increase in allowable revenue (AR) for 2017/18. If Energy Minister Tina Joemat-Petterson decides to use the pipeline tariff as a... 

Nigerian court to rule on March 13 on Shell, ENI dispute with authorities

By: Reuters     28th February 2017 A Nigerian court will rule on March 13 on a request by Royal Dutch Shell and Italy's Eni to lift the temporary seizing of a long-disputed oilfield, a judge said on Monday. The court last month ordered the temporary seizing of assets and the transfer of operations of the OPL 245 field owned by... 

Nigeria's economy contracted by 1.5% in 2016 on lower oil prices

By: Reuters     28th February 2017 Nigeria's gross domestic product fell by 1.5% in 2016 due to lower oil revenues, the National Bureau of Statistics said on Tuesday, for its first annual contraction in 25 years. Africa's largest economy slid into recession in the second quarter of 2016 as a slump in crude prices hammered the Opec... 

Sasol says relations with Moz in ‘good space’ as new oil-find notice is issued 

By: Terence Creamer     27th February 2017 Sasol joint president and CEO Stephen Cornell has described the group’s relations with the Mozambique government as being in a “good space”, despite the country’s current fiscal difficulties, as well as periodic criticism that the country is not benefiting fully from the South African energy and... 

Sasol says relations with Moz in ‘good space’ as new oil-find notice is issued
Drilling in Mozambique

Stronger rand flagged by Sasol as a key earnings risk for second half

By: Terence Creamer     27th February 2017 Fuels and chemicals group Sasol has cautioned that ongoing rand/dollar volatility could pose an earnings risk for the second half its 2017 financial year, but reports that hedges are already in place to protect it from any downward oil price pressures. The JSE-listed group reported a 38% fall in... 

Stronger rand flagged by Sasol as a key earnings risk for second half
Photo by Duane Daws
Sasol joint presidents and CEOs Bongani Nqwababa and Stephen Cornell

Erin Energy CEO resigns

By: Megan van Wyngaardt     23rd February 2017 Segun Omidele has resigned as CEO of dual-listed oil and gas company Erin Energy Corporation, with immediate effect. His departure is expected in the coming weeks, during which time he will assist in the orderly transition of his duties and responsibilities to interim CEO Jean-Michel Malek, who... 

Aton share buying spree 'opportunity, not threat', says M&R’s Laas

By: Irma Venter     23rd February 2017 Murray & Roberts (M&R) CEO Henry Laas views ATM Holding’s acquisition of a 25.5% shareholding in M&R, as “an opportunity, not a threat”. “I’m pretty relaxed about what is happening.” 

Aton share buying spree 'opportunity, not threat', says M&R’s Laas
Photo by Duane Daws
Henry Laas

Shell’s Mohale steps down to pursue other opportunities

By: Megan van Wyngaardt     23rd February 2017 Shell South Africa chairperson and upstream VP Bonang Mohale will step down from his role, effective June 30, to pursue other opportunities. Mohale, who has been with Shell South Africa since 2009, will be succeeded by Hloniphizwe Mtolo, who is currently the South African business retail and the... 

Afrox weathers yet another difficult trading year

By: Megan van Wyngaardt     23rd February 2017 The benefits of its successful restructuring and the litigation settlement with ArcelorMittal South Africa (AMSA) resulted in gas company African Oxygen (Afrox) reporting a 23.2% year-on-year increase in earnings before interest, taxes, depreciation and amortisation (Ebitda) to R1.24-billion for... 

Murray & Roberts posts H1 loss

By: Anine Kilian     22nd February 2017 JSE-listed Murray & Roberts (M&R) on Wednesday reported an attributable loss of R60-million for the six months ended December 31. Revenue and profit from continuing operations were R10.7-billion and R119-million respectively for the period. 

New-look M&R to transfer listing to Diversified Industrials board from Heavy Construction

By: Terence Creamer     20th February 2017 Murray & Roberts (M&R) has confirmed that its application to transfer its listing from the ‘Construction and Materials’ sector of the JSE to the ‘General Industrials’ sector has been approved and that the change will become effective from Monday, March 20. From that date, the company will trade... 

New-look M&R to transfer listing to Diversified Industrials board from Heavy Construction
Photo by Duane Daws
CEO Henry Laas

Conference hopes to catalyse African energy revolution

By: Nadine James     17th February 2017 The 2017 Africa Energy Indaba will enable African energy sector stakeholders to evaluate opportunities and the means to pursue them that could unlock the continent’s energy potential and spark something of an energy revolution, says Indaba organising company Siyenza. “The African continent has... 

Conference hopes to catalyse African energy revolution
BOOSTING ENERGY The Africa Energy Indaba brings together politicians and energy luminaries to envision and catalyse decisions that will enhance access to energy

Exponential increase in the number of power generation projects

By: Nadine James     17th February 2017 The African continent’s large energy deficit has resulted in an exponential increase in the number of power generation projects – both planned and implemented – as well as the number of stakeholders which are a consequence of renewed commercial interest in the African energy sector, says... 

Exponential increase in the number of power generation projects
TSIDISO DISENYANA Foreign investment is targeted at establishing Africa’s green economy, therefore renewables will become a driver of socioeconomic growth

Global energy council ponders gas-related realities

     17th February 2017 In recent years, the gas market has undergone several changes - the discovery of new deposits, the evolution of gas transport techniques and the new gas pipelines are all elements that deeply modify this market, notes international energy organisation World Energy Council (WEC). The council notes... 

Global energy council  ponders gas-related realities
SOUND INVESTMENT Among the fossil fuels, natural gas is the one fossil source which will continue to grow

Third Women in Energy conference cohosted at Energy Indaba

     17th February 2017 The yearly Women in Energy conference, organised by the Africa Energy Indaba, will bring together Africa’s leading women in the energy sector for its third iteration on Monday, February 20 at the Sandton Convention Centre in Johannesburg. The Africa Energy Indaba was the first energy conference... 

Third Women in Energy conference cohosted at Energy Indaba
DOING IT FOR THEMSELVES The Women in Energy conference is designed to aid the increase in leadership and development of women involved in the African energy sectors

Company expects increased product demand in 2017

By: Kimberley Smuts     10th February 2017 South African bearings and power transmission products distributor Bearings International (BI) predicts another successful year for the Rocol range of products, as a result of increased interest in the lubricant Rocol Reaming, Tapping, Drilling (RTD) range for reaming, tapping and drilling... 

First organic coolant in the lubrications market

By: Kimberley Smuts     10th February 2017 The correct coolant chemistry is vital in maintaining the longevity of engines, says diesel engine and technology specialist Cummins Filtration technical services support lead - Africa Tim Hayward, explaining that coolants increase the lifespan of engines by removing compounds that are difficult... 

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