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Oil & Gas News

Nigeria's Presidency rebuffs landmark oil reform bill in current form – sources

By: Reuters     29th August 2018 Nigeria's Presidency has rebuffed a landmark oil industry reform law in its current form, according to two people familiar with the matter, in a setback for plans to reinvigorate investment in Africa's largest crude producer. The legislation, sent back to the National Assembly by the presidency,... 

Majority of Solidarity members at Sasol Secunda in favour of proposed strike

By: Marleny Arnoldi     27th August 2018 Eighty-three per cent of trade union Solidarity’s members at petrochemicals giant Sasol’s Secunda operations have voted in favour of strike action regarding Sasol’s exclusion of white employees from an employee share ownership plan. Solidarity is also planning a national protest in which... 

Wind body praises IRP, but wants clarity on three-year gap in new additions

By: Terence Creamer     27th August 2018 The South African Wind Energy Association (SAWEA) has praised the emphasis placed in the draft Integrated Resource Plan (IRP 2018) on integrating the least-cost generation solutions of wind, solar photovoltaic (PV) and gas into the South African electricity mix between 2018 and 2030. However, the... 

Wind body praises IRP, but wants clarity on three-year gap in new additions

Nigerian economy loses momentum in Q2 as oil sector contracts

By: Reuters     27th August 2018 Nigeria's economic growth dipped to 1.50% year on year between April and June, the statistics office said on Monday, extending a slowdown into a second quarter as the oil sector contracted. Largely dependent on its rich crude reserves, Nigeria's economy began climbing out of its first recession... 

Making quick work of salvaging gas

24th August 2018 Industrial gas company A-Gas has launched its Rapid Recovery aftermarket service to combat the flood of sub-standard refrigerants in disposable cylinders in the food and beverage industry being imported from many global suppliers. The inferior products hamper the cooling capacity of systems,... 

Making quick work  of salvaging gas
LIFE’S A GAS Filling points can fill tanks from 5 kg to 1 t drums

Cabinet approves gazetting of updated IRP for public comment 

By: Anine Kilian     23rd August 2018 Communications Minister Nomvula Mokonyane confirmed on Thursday that Cabinet has approved the publication of the updated Integrated Resources Plan (IRP) and that it will be gazetted for comment by no later than August 27. Briefing media on the outcomes of the Cabinet meeting held on Wednesday,... 

Cabinet approves gazetting of updated IRP for public comment

Linde, Praxair try to save $83bn merger after antitrust blow

By: Reuters     22nd August 2018 Industrial gases giants Linde and Praxair are in talks to try to salvage their $83-billion merger after US competition regulators demanded they sell assets that generate more than $4.3-billion in sales. Linde said on Wednesday the divestments were expected to reach a level that would allow either... 

No concrete plans for now to douse high petrol price

By: Kim Cloete     21st August 2018 Energy Minister Jeff Radebe has lamented the sharp rise in the petrol price but has not announced any concrete plans to douse the situation. He says a cluster of Ministers has been seconded to see what government can do to mitigate high petrol prices. He expects the Ministers to report back to... 

Study initiated to assess conversion of Kelvin power station from coal to gas

By: Terence Creamer     21st August 2018 A $1.3-million feasibility study has been initiated into the prospect of converting the coal-fired Kelvin power station, east of Johannesburg, into a 450 MW to 600 MW gas-fired power station. The study will also assess the potential for developing the Kelvin site into a gas distribution hub for... 

Study initiated to assess conversion of Kelvin power station from coal to gas
The Kelvin power station

Sasol FY18 headline earnings fall 22%

By: Anine Kilian     20th August 2018 Integrated chemicals and energy company Sasol on Monday reported a 22% year-on-year decrease in its headline earnings a share to R27.44 for the financial year ended June 30. Speaking at a presentation of the group’s results on Wednesday, joint president and CEO Bongani Nqwababa said core headline... 

Angola aims to boost oil output with new block sale agency

By: Reuters     16th August 2018 Angola will launch next year a new agency to handle oil concessions, the government said on Thursday, as President João Lourenço pushes ahead with reforms aimed at boosting production in Africa's second biggest oil industry. The creation of a National Agency of Petroleum and Gas to manage and... 

Ecowas moves to address gap in energy sector

By: African News Agency      14th August 2018 The Commission of the Economic Community of West African States (Ecowas) has moved to validate its regional strategy to popularise liquefied petroleum gas in West Africa to improve its economy and address health challenges and environmental degradation associated with the lack of access to the... 

Kudu gas project might not be viable for Namibia – Energy Minister

By: Reuters     14th August 2018 Namibia's long-delayed Kudu gas-to-power project, seen as key to boosting electricity security in the southwest African country, might not be viable, Mines and Energy Minister Tom Alweendo said on Monday. Namibia's offshore Kudu Gas Fields have proven and probable recoverable reserves estimated... 

Petronas acquires 30% equity in Senegal oil, gas block

By: Reuters     13th August 2018 Malaysian oil and gas company Petroliam Nasional (Petronas) said on Monday it has acquired a 30% stake in Senegal's Rufisque Offshore Profond block, its first project in the West African nation. Oil major Total will maintain operatorship of the block with a 60% ownership, Petronas said in a... 

Algeria's State oil firm gets new management, targets brain drain

By: Reuters     13th August 2018 The head of Algerian State oil firm Sonatrach has assembled a new leadership team, a senior company source said, aiming to reverse a flow of talent from an unwieldy state enterprise that keeps the country afloat. President Abdelaziz Bouteflika put US-trained Abdelmoumen Ould Kaddour in charge of... 

Sonatrach in talks with 14 foreign firms on trading venture – CEO

By: Reuters     10th August 2018 Algerian State energy firm Sonatrach is in talks with 14 international firms for a joint venture to trade oil and gas products after agreeing to buy its first overseas refinery, its CEO said on Thursday. "I am happy to say that 14 firms are on the list to do a JV on trading with us," Abdelmoumen... 

Mozambique finalises block 5 oil deals with multinational firms

By: Reuters     8th August 2018 Mozambique's government on Tuesday approved contracts giving exclusive rights to energy companies to act on concessions awarded to them to explore for oil following four years of negotiations and delays that threatened to derail the projects. Cabinet spokesperson Ana Comoana said the companies... 

Tanzania wants to build pipeline to pump gas to Uganda

By: Reuters     6th August 2018 Tanzania wants to build a pipeline to pump natural gas to neighbouring Uganda, another step in the two countries' bid to expand energy cooperation. State-run Tanzania Petroleum Development Corporation (TPDC) said on Monday that the pipeline would start from its capital Dar es Salaam, then pass... 

Petrol price to rise 1c/ℓ in August

By: Simone Liedtke     30th July 2018 The petrol price will increase by 1c/ℓ on August 1, while the diesel price will decrease by 4c/ℓ, the Central Energy Fund (CEF) has revealed. Illuminating paraffin will increase by 4c/ℓ and liquefied petroleum gas by 17c/kg. 

Petrol price to rise 1c/ℓ in August

Oando financials thrive on back of high-demand, low-supply oil environment

By: Marleny Arnoldi     27th July 2018 JSE-listed Nigerian energy group Oando reported a solid financial footing for the first half of the year on the back of higher oil prices as a direct consequence of increasing demand and lower supply. Higher oil prices, and the resolution of joint venture funding challenges with the Nigerian... 

Tullow has stopped work on Kenya oilfields due to security issues

By: Reuters     25th July 2018 Tullow Oil has stopped works on its Kenyan oil fields and its trucking operations to move oil to the coast due to security issues, Chief Executive Paul McDade told Reuters on Wednesday. "What you saw locally was the local people, the community... using the trucking operation as a lever really to... 

Egypt hikes gas prices by up to 75% in IMF-backed austerity plan

By: Reuters     23rd July 2018 Egypt said on Saturday it was raising the price of natural gas for home and commercial use by up to 75%, the latest move in an IMF-backed austerity programme that has left many Egyptians struggling to make ends meet. The increases follow hikes to fuel, electricity and public transport prices that... 

Electricity interruptions impact on Sasol’s FY18 production performance

By: Marleny Arnoldi     20th July 2018 Several unplanned electricity supply interruptions and two internal outages at its Secunda synfuels operations, resulted in lower production volumes for petrochemicals group Sasol for the financial year ended June 30. In a trading update published on Friday, the company said its earnings before... 

SMEC South Africa to help develop white oil storage terminal in Ethiopia

By: Marleny Arnoldi     19th July 2018 Consulting engineering firm SMEC South Africa, with support from SMEC International, has been appointed by Ethiopian Petroleum Supply Enterprise to develop a white oil products storage terminal at Port Dukem, in Ethiopia. The facility will be the biggest among the country’s depots at 240 000 m3.  

M&R awarded R4bn of projects in Australasia

By: Marleny Arnoldi     19th July 2018 JSE-listed engineering and construction group Murray & Roberts (M&R) has been awarded new projects to the value of R4-billion, to be delivered over the next two years. These awards include projects to be undertaken by M&R’s oil and gas platform in the metals and minerals market in Australasia,... 

Tullow Oil to shoulder Kosmos' $65m burden over Ghana rig dispute

By: Reuters     18th July 2018 Britain's Tullow Oil has to cough up around $65-million for Kosmos Energy's share and legal fees over a cancelled rig contract in Ghana, the companies said on Wednesday. A London judge had ordered Tullow this month to pay rig owner Seadrill around $254-million, saying Tullow was wrong to end the... 

Total’s acquisition of Engie LNG portfolio closes

By: Marleny Arnoldi     13th July 2018 Petroleum giant Total’s acquisition of Engie’s portfolio of upstream liquefied natural gas (LNG) assets for an overall enterprise value of $1.5-billion, has closed.  

Transnet Pipelines unveils new national operating centre

By: Shirley le Guern     13th July 2018 A new national operating centre (NOC) that will serve as a nerve centre for Transnet Pipelines (TPL) and its 3 800 km underground national pipeline network was officially opened in Durban on Friday. Up until now, the control centre was based at TPL’s head office in the Durban central business... 

Transnet Pipelines unveils new national operating centre
Transnet Group CEO Siyabonga Gama, TPL COO Sibongiseni Khathi and Transnet COO Mlamuli Buthelezi

Gas processing specialist acquired by vacuum pumps company

13th July 2018 Last month industrial vacuum supplier Busch Vacuum Pumps and Systems announced that Switzerland-based engineering company NSB Gas Processing is now part of the global Busch group. The NSB Gas Processing business has been renamed Busch NSB AG and brings a highly regarded team of engineers and a... 

Gas processing specialist acquired by vacuum  pumps company
BIGGER AND BETTER Busch's new manufacturing plant and offices in Virginia Beach USA

M&A advisory firm aims to use SA as gateway to African market

By: Nadine James     13th July 2018 Washington DC-headquartered mergers and acquisition advisory firm Taylor Advisory announced last week that it was entering the African market through South Africa with the appointment of Francois Baird as its Africa co-chairperson and Riaan Rademan as its South Africa co-chairperson. This is... 

M&A advisory firm aims to use SA as gateway to African market
FRANCOIS BAIRD Taylor Advisory's ability to deliver the best results, instead of simply brokering a deal, is specifically vital for Africa-based companies

World's oil cushion could be stretched to the limit, IEA warns

By: Reuters     12th July 2018 The world's oil supply cushion could be stretched to the limit due to prolonged outages, supporting prices and threatening demand growth, the International Energy Agency (IEA) said on Thursday. The expected drop in Iranian crude exports this year due to renewed US sanctions, coupled with a... 

World's oil cushion could be stretched to the limit, IEA warns

Opec sees lower 2019 demand for its oil, points to surplus returning

By: Reuters     11th July 2018 Opec on Wednesday forecast world demand for its crude will decline next year as growth in consumption slows and rivals pump more, pointing to a market surplus returning despite an Opec-led pact to restrain supplies. Giving its first 2019 forecasts in a monthly report, the Organization of the... 

Libyan NOC announces reopening of key oil export terminals

By: Reuters     11th July 2018 Libya's Tripoli-based National Oil Corp (NOC) said on Wednesday that four export terminals were being reopened after eastern factions handed over the ports, ending a standoff that had shut down most of the country's oil output. Production and export operations would be restored "within the next... 

Brazil's Petrobras nears $1.3bn sales of African venture stake – paper

By: Reuters     10th July 2018 Brazilian State-controlled oil company Petróleo Brasileiro SA is close to agreeing the sale of its stake in an African venture for around $1.3-billion, newspaper Valor Econômico said on Tuesday. Petrobras, as the company is known, owns 50% of Petrobras Oil & Gas BV, or Petrobras Africa. Grupo BTG... 

Gabon oil workers start 15-day strike at Total facilities

By: Reuters     9th July 2018 Gabon oil workers' union ONEP launched a 15-day strike at the facilities of French oil producer Total on Monday after its demands for higher salaries and other issues were not met, the union said in a statement. "The 15-day strike will affect all installations operated by Total Gabon's employees... 

Key enviro assessment launched for SA gas and power networks

By: Nadine James     6th July 2018 The Council for Scientific and Industrial Research (CSIR) and the South African National Biodiversity Institute are undertaking a strategic environmental assessment (SEA) for the development of a phased gas pipeline network and the expansion of the electricity grid infrastructure (EGI) corridors.... 

German funding to back oil, gas exploration in Namibia

By: Marleny Arnoldi     5th July 2018 Gravionic, a specialist in the development of complex sensor systems, was awarded a €376 000 grant from the German government to mount its gravity and magnetic surveying equipment on to a gyrocopter for the first time.  

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