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South Africa seeks Glencore, Vitol talks as legal fight looms

By: Bloomberg 20th October 2017 South Africa plans to engage with traders who acquired strategic oil reserves two years ago, even as it prepares legal action to try to cancel the deal. The Strategic Fuel Fund, responsible for managing the reserves, sold 10 million barrels of oil in December 2015 to Taleveras Group and joint... →

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.... →

Sale of South Africa’s strategic fuel stocks heads to court

By: African News Agency 5th October 2017 The question of whether South Africa can access strategic fuel stocks sold way below market price in a controversial deal made in late 2015 will be answered by a court of law, Strategic Fuel Fund (SFF) acting chief executive Thabani Zulu said on Wednesday. Speaking to journalists on the sidelines... →

PetroSA, Rosgeo sign multimillion-dollar deal for oil, gas exploration in South Africa

By: Anine Kilian 4th September 2017 State-owned PetroSA has signed an agreement with Russian geological exploration company Rosgeo that will result in the investment of about $400-million in oil and gas development off the coast of South Africa. The agreement was signed at the ninth yearly Brics Summit that is currently under way... →

Kubayi refutes CEF board suspension report

By: Creamer Media Reporter 1st August 2017 Energy Minister Mmamoloko Kubayi on Tuesday refuted a media report stating that she had suspended the Central Energy Fund (CEF) board. The Minister confirmed, however, that board members had been handed letters in July 26 requesting “an explanation on concerns”. No details were provided, however,... →

CEF appoints new interim PetroSA board

By: Megan van Wyngaardt 6th July 2017 The Central Energy Fund (CEF) has appointed a new interim board at embattled State-owned oil and gas company PetroSA, effective July 5. Former South African Farmers Development Agency MD Nhlanhla Gumede has been appointed chairperson, succeeding former interim chairperson Wilfred Ngubane. →

Only two board members left at beleaguered PetroSA – report

By: News24Wire 7th June 2017 The Central Energy Fund declined to comment on Wednesday on a report that four of the six remaining board members of PetroSA tendered their resignations. BusinessLive reported that the resignations of now interim board chairperson Wilfred Ngubane, Thami Hlongwa, Johlene Ntwane and Banothile... →

Energy Minister mulls criminal charges over sale of S Africa’s strategic fuel stocks

By: African News Agency 30th May 2017 Energy Minister Mmamoloko Kubayi on Tuesday told MPs she was considering criminal charges relating to the sale of 10.3-million barrels of South Africa’s strategic fuel reserves. Briefing Parliament’s portfolio committee on energy, Kubayi again confirmed the fuel stocks were “sold” and not rotated... →

Central Energy Fund to be restructured

25th May 2017 Creamer Media's Chanel de Bruyn speaks to Engineering News Editor Terence Creamer about the Energy Minister’s plans to restructure the Central Energy Fund, as well as the Minister’s promise to provide some certainty regarding a resolution to the renewables impasse. →

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... →

Energy Minister reveals extent of executive vacancies at State-owned energy entities

By: Megan van Wyngaardt 19th April 2017 Several executive positions in the country’s State-owned energy entities have remained vacant for a year or more, a written Parliamentary reply by Energy Minister Mmamoloko Kubayi reveals. The Petroleum Agency of South Africa (PASA) has now been without a CEO for five years. →

Motorists warned to brace for more petrol pain

By: News24Wire 16th January 2017 The Automobile Association on Monday warned motorists to brace for another hike in fuel prices at the end of January. Commenting on unaudited mid-month fuel price data released by the Central Energy Fund (CEF), the AA said the the rand/US dollar exchange rate has firmed slightly since the start... →

Power switched on at South Africa's first independent landfill gas generation scheme

8th December 2016 South Africa's first independent landfill gas-to-power project has begun generation in Johannesburg - providing 3MW of renewable electricity, enough to supply more than 5,500 homes. Project developer ENERGY Systems has started operation at Robinson Deep landfill site in Johannesburg. This is... →

In bid to revive GTL refinery, PetroSA plans gas-to-condensate swing

By: Terence Creamer 18th November 2016 South Africa’s embattled national oil company, PetroSA, has confirmed yet another, albeit smaller, loss for 2015/16, while revealing that it is planning to use more heavy condensate as a feedstock at its gas-to-liquids (GTL) refinery in Mossel Bay, as indigenous gas resources dwindle. The swing... →

Central Energy Fund grilled by lawmakers on controversial fuel stock sale

By: Kim Cloete 8th November 2016 The management and board of the Central Energy Fund (CEF) have been grilled by Parliament’s Portfolio Committee on Energy, particularly on its controversial sale of 10-million barrels of crude oil reserves. The CEF has, however, been unable to come up with many answers. The main point of... →

Petrol party turns sour with expected 51c price hike

By: News24Wire 15th September 2016 The recent period of fuel price reductions is set for a reversal as the weakening rand and stronger international petroleum prices combine to cause pain at the pumps. This is according to the Automobile Association (AA), which was commenting on unaudited mid-month fuel price data released by the... →

Gordhan jitters, oil strength slam brakes on fuel price drop

By: News24Wire 30th August 2016 Renewed oil price strength and a turnaround in the rand/US dollar exchange rate have put the brakes on the substantial fuel price drops suggested by mid-August data. This is according to the Automobile Association (AA), which was commenting on unaudited end-August fuel price data released by the... →

Petrol strike affects bus routes

By: African News Agency 2nd August 2016 Metrobus has warned commuters its buses would not operate on all scheduled trips from Tuesday owing to the ongoing strike in the petroleum industry which has resulted in depots running low on fuel. “Our depots are already running low on fuel supplies and as a result, we may be compelled to reduce... →

Petrol could fall by R1/litre – AA

By: News24Wire 29th July 2016 Motorists could see a drop in the petrol price by up to R1 a litre in August as the rand continues its robust run against dollar, according to the Automobile Association (AA). The organisation commented on Friday on unaudited month-end fuel price data released by the Central Energy Fund (CEF). →

Energy Minister cracks down on CEF governance

By: Megan van Wyngaardt 27th July 2016 The Central Energy Fund (CEF) board will review its governance processes, as well as its turnaround strategies for the subsidiaries in the group, after Energy Minister Tina Joemat-Pettersson raised concerns around the recent lapses in governance in the group. At a meeting held earlier this month... →

Eastern Cape gas-to-power hub plans on track

22nd July 2016 The Eastern Cape’s plan to host a gas-to-power hub is well advanced with the Coega industrial development zone (IDZ) now clearly the province's preferred location for the development says Economic Development, Environmental Affairs and Tourism MEC Sakhumzi Somyo. →

Motorists in for massive drop in petrol price – AA

By: News24Wire 15th July 2016 Motorists can expect a massive drop in the petrol price next month, as South Africans reap the benefit of the weak oil price and the strengthening rand in the face of Brexit, the Automobile Association (AA) announced on Friday. “The mid-month data sees petrol poised for a drop of up to 83 cents a... →

Substantive mineral law issues still far from resolved – Herbert Smith Freehills

By: Martin Creamer 27th June 2016 The content and the implications of the Minerals and Petroleum Resources Development Act (MPRDA) Amendment Bill are extraordinarily complicated. Three issues, which embody the most significant negative implications for the mining industry and South Africa, have been delaying the finalisation of... →

PetroSA appoints new acting CEO

By: Natasha Odendaal 22nd June 2016 Central Energy Fund CFO Siphamandla Mthethwa will step in as acting PetroSA CEO effective June 30 after the resignation of current acting group CEO Mapula Modipa, who was leaving the national oil company after a year at the helm for personal reasons. Mthethwa would lead the turnaround plan... →

Motorists in for stiff petrol price hike

By: News24Wire 17th June 2016 Ongoing oil strength, with limited support from the exchange rate, has set the stage for further increases in the fuel price, the Automobile Association (AA) warned on Friday. Commenting on unaudited mid-month data released by the Central Energy Fund, the AA said the data predicts a rise of up to... →

DoE tests market appetite for three new public-private solar parks

By: Terence Creamer 11th May 2016 The Department of Energy (DoE) indicated on Wednesday that it would canvass the appetite of independent power producers (IPPs) to develop, finance, construct and operate three new Northern Cape solar parks, of between 400 MW and 700 MW in size, in partnership with State-owned companies (SoCs). In... →

Mkhwanazi appointed Gibela chair

4th May 2016 Dr Xolani Mkhwanazi has joined the Gibela board as nonexecutive chairperson from May 1. He currently serves on a number of boards, including as chairperson of the Central Energy Fund and nonexecutive director of South32. He has extensive executive leadership, business and technical experience... →

More pain at the pump predicted

By: News24Wire 28th April 2016 Steady appreciation in international petroleum prices during April has brushed aside gains in the rand/dollar exchange rate, setting the stage for more fuel price hikes in May, the Automobile Association (AA) cautioned on Thursday. This view is based on unaudited month-end fuel price data... →

LNG imports a real option for South Africa – IGU president

By: Terence Creamer 5th April 2016 The development of liquefied natural gas (LNG) export capacity in countries such as the US and Australia is transforming gas into a “global energy market” and creating opportunities for countries such as South Africa to diversify its energy mix and bolster security of supply. This is the view of... →

Bumpy ride for South African motorists

By: Simon Sonnekus 19th February 2016 The expected rise in Brent crude oil prices, and geopolitical decisions by South Africa will influence the petrol price and vehicle prices in 2016, says the Automobile Association (AA) of South Africa. According to audit, advisory and tax services firm KPMG automotive sector partner Gavin Maile,... →

Weak oil may save SA motorists pain at the pumps

By: News24Wire 16th December 2015 According to the Automobile Association, sliding global oil prices have offset the rand's plunge to all time lows against the dollar following Zuma's axing of Nhlanhla Nene last Wednesday to replace him with largely unknown ANC MP David van Rooyen. Zuma's U-turn on his choice of Van Rooyen to... →

PetroSA says it remains a ‘going concern’ despite R14.6bn loss

By: Terence Creamer 15th October 2015 South Africa’s embattled national oil company PetroSA, which recorded a whopping net operating loss of R14.6-billion in 2014/15, insisted on Thursday that it remained a “going concern”, while unveiling a turnaround strategy designed to secure its long-term viability and financial sustainability.... →

S Africa to extend renewable-energy programme into rest of Africa

By: Kim Cloete 5th October 2015 The South African Department of Energy (DoE) plans to extend its renewable-energy programme to the rest of Africa over the next five years. Energy Minister Tina Joemat-Pettersson told the South African International Renewable Energy Conference (Sairec) in Cape Town on Monday that government and... →

Expect big petrol price hike - AA

By: News24Wire 25th June 2015 Based on unaudited daily fuel price data released by the Central Energy Fund, fuel price increases are set to continue in July, the Automobile Association (AA) said on Thursday. It expects the price of petrol to increase by between 43 cents and 46c cents a litre, while diesel and illuminating... →

PetroSA board should resign – Portfolio Committee

By: Megan van Wyngaardt 10th June 2015 The board members of South Africa’s national oil company PetroSA should lead by example and resign, the Portfolio Committee on Energy has suggested. The committee, which met with representatives of the Department of Energy (DoE) and the Central Energy Fund (CEF) at PetroSA’s head office in Parow,... →

Diesel costs driving Eskom tariffs up – Nersa

By: News24Wire 4th June 2015 The billions of rands that Eskom is spending on diesel to drive its open cycle gas turbines is the reason for its recent tariff increase applications, a conference heard on Thursday. Eskom based its multi-year price determination (MYPD3) for the five years from 2013/14 to 2017/18, on the... →

CEF to recruit new CEO

By: Megan van Wyngaardt 7th April 2015 State-owned enterprise, the Central Energy Fund (CEF), is seeking to appoint a new CEO. The CEF said it was seeking to appoint a CEO to provide strategic direction and leadership to CEF Group for a five-year term. →

Still no word on mooted State-owned miner

By: Zandile Mavuso 20th March 2015 It has been almost a year since Mineral Resources Minister Ngoako Ramatlhodi indicated in his 2014 Budget Vote speech that the Department of Mineral Resources (DMR) would submit the State-owned Mining Company (Somco) Bill to Parliament for processing, but the mining industry and various other... →

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