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Oil & Gas News

World record set after large oil rig lifted and shipped in one piece

By: Dylan Slater     19th May 2017 North Sea oil rig the Brent Delta platform, belonging to oil company Shell UK, was recently successfully lifted off of its three-legged structure in the Brent oilfield, about 180 km off the coast of the Shetland Islands last month, setting a world record for the heaviest single-piece lift at sea.  

Cement and concrete affected by faltering construction industry

By: Tasneem Bulbulia     12th May 2017 The construction industry in South Africa – which is tied directly to the state of cement and concrete – is stuttering, but there is scope to improve, says chemicals solutions provider Chryso Southern Africa (Chryso) CEO Norman Seymore. It has been widely reported that the construction industry... 

Cement and concrete affected by faltering construction industry
Photo by Bloomberg
NOTHING CONCRETE A lack of major infrastructure projects in South Africa is negatively affecting the construction industry, thereby hindering the state of cement and concrete

Eastern Cape sets sights on becoming Africa’s leading fuel bunkering centre

By: Mia Breytenbach     12th May 2017 Following the successful introduction of a deep-sea bunkering service off the coast of  Port Elizabeth, in the Eastern Cape, the province has set itself the target of being the leading bunkering stopover in Africa, states Eastern Cape MEC for Rural Development and Agrarian Reform Mlibo... 

Eastern Cape sets sights on becoming Africa’s leading fuel bunkering centre
Photo by Duane Daws
TARGETING OPPORTUNITIES The Eastern Cape province is targeting liquid fuels, bunkering services and biofuels, gas-to-power generation and a commercial and industrial gas industry

Afrox CFO resigns

9th May 2017 Dorian Devers has resigned as CFO of JSE-listed African Oxygen (Afrox), effective July 31. He is relocating to New Zealand to pursue opportunities outside Linde Group. 

PetroSA denies business rescue allegations

By: Megan van Wyngaardt     8th May 2017 State-owned oil and gas company PetroSA on Monday refuted claims that it had asked its holding company, the Central Energy Fund, to place it under business rescue, stating that it was not in “financial distress”. It said media reports last week about the alleged request were “inaccurate and... 

Internship academy launches young professionals platform

5th May 2017 In response to the youth unemployment epidemic on the African continent, internship facilitators  Africa Internship Academy (AIA), will be launching its Young Energy and Power Professionals (YEPP) platform at the 2017 African Utility Week, which takes place at the  Cape Town International... 

Internship academy launches young professionals platform
NURTURING POTENTIAL The launch intends to establish a network of graduates attempting to solve Africa’s power and energy issues

Platinum sponsor returns to African Utility Week

5th May 2017 Conference and trade exhibition African Utility Week has welcomed back a long-standing supporter - global energy giant Shell. The oil company will again be a platinum sponsor at the conference and exhibition from May 16 to 18, in Cape Town. 

Largest private IPP in Ghana on course for 2017 completion

By: Mia Breytenbach     5th May 2017 Ghanaian independent power producer Cenpower Generation Company’s Kpone Independent Power Plant (KIPP), which is expected to become a critical baseload component in meeting Ghana’s growing electricity demand, is expected to be commissioned before the end of 2017. Cenpower Generation Company’s... 

Largest private IPP in Ghana on course for 2017 completion
Photo by Cenpower Generation Company
BASELOAD COMPONENT The Kpone Independent Power Plant is a combined-cycle gas turbine power plant with a planned capacity of 340 MW and a multiple fuel operating capability

Oiltanking Grindrod Calulo, TNPA sign liquid bulk agreement

By: Irma Venter     4th May 2017 Transnet National Ports Authority (TNPA) and Oiltanking Grindrod Calulo (OTGC) on Thursday signed an agreement in Port Elizabeth that will see OTGC plan, fund, construct, maintain and operate a new liquid bulk handling facility at the Port of Ngqura, in the Eastern Cape. The facility’s concept... 

Oiltanking Grindrod Calulo, TNPA sign liquid bulk agreement
Photo by Duane Daws
The Port of Ngqura

Fuel price to rise next week

By: African News Agency      27th April 2017 The Department of Energy has confirmed that the price of petrol in Gauteng will increase by 49c per litre on May 3. This is due to the international product prices of petrol increasing during the recent period, as well as the rand having depreciated against the US dollar. 

Fuel price to rise next week

LNG-focused energy firm pursuing ‘diversified’ African investment pipeline

By: Terence Creamer     26th April 2017 Black-empowered energy company African Energy Partners (AEP), which plans to list as a special purpose acquisition company on the JSE’s AltX board on June 1, to raise up to R500-million to pursue liquefied natural gas (LNG) prospects in Africa, reports that its investment pipeline includes a... 

LNG-focused energy firm pursuing ‘diversified’ African investment pipeline
AEP CEO Edwin Kikonyogo

LPG industry urged to act on non-binding market inquiry findings 

By: Terence Creamer     24th April 2017 South Africa’s Competition Commission has made far-reaching, yet non-binding, recommendations for dealing with prevailing “market distortions” in the domestic liquid petroleum gas (LPG) sector following its first-ever market inquiry, which took nearly three years to complete. The report... 

LPG industry urged to act on non-binding market inquiry findings
Photo by Duane Daws
Commissioner Tembinkosi Bonakele and Minister Ebrahim Patel

DMR to brief Western Cape communities on shale gas development

By: Megan van Wyngaardt     21st April 2017 Mineral Resources Deputy Minister Godfrey Oliphant will on Tuesday host an information-sharing session with interested and affected communities and organisations in the Western Cape on the potential of shale gas development through hydraulic fracturing, or fracking. The Deputy Minister will... 

Bunkers improve product quality

21st April 2017 Dutch axial control valve manufacturers Mokveld Valves BV has recently commissioned two new test bunkers for testing critical, high quality valve systems – used in process control applications for the oil and gas industries – thereby improving the quality and safety of the system. Mokveld, whose... 

Pressure, temperature transmitter launched for downhole applications

21st April 2017 Last month, US-based Emerson Automation Solutions introduced the Paine 328-12-0010 pressure and temperature data logger and digital transmitter for process measurement and data logging in downhole drilling applications. The company notes that downhole drilling operators need to measure pressure... 

Pressure, temperature transmitter launched for downhole applications
PAINE 328-12-0010 It measures pressure and temperature with full-scale accuracy of about 0.05% and is able to withstand operating temperatures from -40 °C to 175 °C

Sasol finalises currency hedges worth $4bn

By: Terence Creamer     11th April 2017 Energy and chemicals group Sasol reported on Tuesday that it had finalised currency hedges with a total notional amount of $4-billion for its 2018 financial year. The hedges represent about 70% of its expected net rand/US dollar exposure for the period, which runs until June 30, 2018. The... 

Sasol finalises currency hedges worth $4bn

Govt gives green light for shale gas fracking in Karoo

By: News24Wire      30th March 2017 The government has given the go-ahead for shale gas development in the Karoo region, Mineral Resources Minister Mosebenzi Zwane said on Thursday. He revealed this during a community engagement on shale gas development in Richmond, in the Northern Cape. 

Erin Energy enters farm-out agreement over two oil blocks in The Gambia

By: Megan van Wyngaardt     27th March 2017 Dual-listed Erin Energy Corporation has entered into a definitive farm-out agreement with ASX-listed oil and gas company FAR, which will acquire an 80% interest and operatorship of Erin’s offshore A2 and A5 blocks in The Gambia. Erin Energy will retain a 20% working interest in both blocks. 

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. 

Pumps range included in offering to cater for demand
PNEUMATIC GREASE TRANSFER About 180 kg of grease is being pumped and used daily at Richards Bay Minerals

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... 

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

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... 

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

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... 

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... 

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

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

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