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Rand rout threatens fuel price stability, warns AA

By: News24Wire 15th August 2018 Substantial rand weakness could undo recent fuel price stability, the Automobile Association (AA) warned on Wednesday. It was commenting on unaudited mid-month fuel price data released by the Central Energy Fund (CEF). "Almost two months of modestly improving rand strength ended in a dramatic... →

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. →

Fuel prices to rise by more than 1.5% in July

By: Reuters 2nd July 2018 The retail price of petrol in South Africa will rise by more than 1.5% from July 4, while the price of wholesale diesel will rise by 1.8%, the Energy Department said on Sunday. The price of petrol will rise by 26c to R16.02 a litre in the commercial hub of Gauteng province, while diesel will... →

Petrol price still on course to breach record R16/litre: Fuel hikes 'could've been far higher' – AA

By: News24Wire 28th June 2018 South Africans have been thrown a lifeline by declining oil prices in June, reports the Automobile Association (AA). Commenting on unaudited month-end fuel price data released by the Central Energy Fund (CEF). The AA says that without oil's decline, the fuel price hike for July would have been... →

More petrol price hikes for SA: 'Oil down but Rand pummels fuel price' – AA

By: News24Wire 15th June 2018 Motorists will have to brace themselves as fuel prices look set for another jump going into July, says Automobile Association (AA), commenting on unaudited mid-month fuel data released by the Central Energy Fund (CEF). AA said: "Since the start of June, the Rand has steadily weakened against... →

PetroSA's GTL refinery could run out of natural gas in two years

By: Reuters 12th June 2018 South Africa's flagship gas-to-liquids (GTL) refinery at Mossel Bay could run out of natural gas within two years when offshore reserves dry up, a senior energy official said on Tuesday. The Mossel Bay GTL plant, one of the world's largest, is operated by State-owned national oil and gas company... →

More pain at the pumps: Huge fuel price hikes for June – AA

By: News24Wire 31st May 2018 Fuel prices will jump to record highs in June on the back of stronger international oil prices, and a deficit carried over from April. This is according to the Automobile Association (AA), which was commenting on unaudited month-end fuel data released by the Central Energy Fund (CEF). The Rand... →

Radebe sees energy contributing $25bn to South Africa’s $100bn investment target

By: Terence Creamer 16th May 2018 Energy Minister Jeff Radebe says one-quarter, or $25-billion, of South Africa's newly announced five-year investment target of $100-billion could be met through investments in new energy projects, including a possible new greenfield crude oil refinery and a gas pipeline linking South Africa to... →

Motorists in for another massive petrol price spike

By: News24Wire 15th May 2018 Motorists can expect another massive fuel price hike at the beginning of June, the Automobile Association warned on Tuesday. Commenting on unaudited mid-month fuel price data released by the Central Energy Fund, the AA said last month's fuel price account was closed earlier by the Department of... →

Huge petrol price hike to kick in next Wednesday

By: News24Wire 28th March 2018 The price of 95 unleaded and leaded petrol in Gauteng will increase by 72c/l and at the coast 62c/l with effect from next Wednesday, the Department of Energy announced on Wednesday. The per litre pump price of 93 unleaded and leaded petrol will increase 69c/l in Gauteng and 59c/l at the coast,... →

'Fuel will be more expensive in April' – AA

By: News24Wire 15th March 2018 Although basic fuel prices are showing signs of further decreases at month end, the overall price of fuel is set to increase because of the addition of increased fuel levies in April. This is according to the Automobile Association (AA), which was commenting on unaudited mid-month fuel price data... →

Radebe’s inbox

By: Terence Creamer 9th March 2018 Having initially exercised some restraint in his retention of Dipuo Peters as Energy Minister from May 2009 to July 2013, former President Jacob Zuma grew increasingly agitated by the lack of nuclear progress and made several changes in relatively quick succession. Ben Martins, Tina... →

the dti Leads Black Industrialists On Trade Mission To Mozambique

5th March 2018 The Department of Trade and Industry will (the dti) lead a Black Industrialists (BI) business delegation to Mozambique on a mission to identify and explore trade and investment opportunities from the 4-10 March 2018. The delegation will also comprise of the Developmental Bank of Southern Africa,... →

The DTI leads black industrialists on trade mission to Mozambique

By: African News Agency 5th March 2018 The Department of Trade and Industry (dti) is leading a black industrialists business delegation to Mozambique on a mission to identify and explore trade and investment opportunities from March 4 to 10. Also in the delegation are representatives of the Development Bank of Southern Africa, the... →

Fuel price to drop in March – AA

By: News24Wire 26th February 2018 Fuel prices are set to drop in March as South Africans benefit from a stable exchange rate and lower international fuel prices, reports the Automobile Association (AA), which was commenting on unaudited month-end fuel data released by the Central Energy Fund. The AA says: "The Rand was trading at... →

More fuel price relief for SA motorists – AA

By: News24Wire 15th January 2018 Fuel prices are set for month-end decreases, this is according to the Automobile Association (AA) commenting on mid-month fuel price data released by the Central Energy Fund. The AA said: "The Rand/US dollar exchange rate has had one of its flattest periods of trading in recent times. It has... →

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... →

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