“The world is not just North America and Europe,” he said. “We need the best projects in the best places, not just in the best tax regimes.”
While the company attempted to continue, executives eventually abandoned their efforts and ended the AGM.
“Each time Kinetiko adds commercial production plans within its exploration rights, it will be able to grow Reserve Certifications by eventual orders of magnitude”, he said.
Under the decision, Sasol must achieve concentration-based limits for SO2 at the Secunda steam plant boilers. The company had applied to be allowed to operate on a load-based limit – but this was rejected.
In the meantime, Sasol warned of “continued pricing and demand volatility” to come.
The licence is adjacent to the Pande and Temane fields. The Bonito well is the second drilled in the licence. The first failed to find hydrocarbons.
Sasol signed on to the PPA in January. The petrochemical company is shifting away from coal to gas, ultimately aiming to focus on green hydrogen.
The challenge over the next 10 years will be in scaling up SAF production. Green hydrogen production is relatively niche, as yet. “A lack of green power and electrolysis capacity, this will not make a dent” in the projected SAF demand.
While drilling is ahead of schedule in Mozambique, gas production was 2% lower, Sasol said. This is “due to reduced demand from our own operations and the external market largely due to the ongoing power outages”.
The Brunel Solar Team won in 2022, covering 3,780 km, just 10 km more than the runners up Agoria.
Sasol and Sonatrach have teamed up to work on the production of low-carbon hydrogen and synthetic gas in Sicily.
Sasol said it was committed to cutting its emissions by at least 30% by 2030 and that green hydrogen would play a key role in transforming South Africa’s economy.
Sasol will hold its AGM today and will face some tough questions on its environmental stance from various NGOs.
Sasol and ArcelorMittal South Africa have struck a deal to pursue green hydrogen at Saldanha and carbon capture and utilisation (CCU) in Vaal.
Sasol’s Care-o-sene – the Catalyst Research for Sustainable Kerosene – has secured 40 million euros ($38.8mn) in funding, allowing work to begin.
South Africa’s Brayfoil Technologies has won the Energy Investment Village pitch competition this week at the Green Energy Africa (GEA) summit.
Industrial groups in South Africa have voiced their commitment to an equitable transition, while calling for increased carbon prices to be pushed back to after 2035.
Japanese corporates have signed around 90 agreements with African investors at the recently concluded 8th Tokyo International Conference on African Development (TICAD) in Tunisia.
Sasol has reported adjusted EBITDA up 48% for its financial year, ending on June 30.
Sasol Ltd., South Africa’s largest fuel producer, declared force majeure on the supply of petroleum products due to delays in deliveries of crude to the Natref refinery it owns with TotalEnergies, leaving just a fraction of the country’s fuel-production capacity still operational.
Floods in KwaZulu-Natal have disrupted some of Sasol’s chemical exports, the company has said, while reaffirming its hedging plans.
Instituto Nacional de Petroleo (INP) has approved 12 of the 13 companies for pre-qualification in its sixth licence round.
Mozambique President Filipe Nyusi has ceremonially laid the first stone for the Temane project.
Sasol has reported EBIT of 24.3 billion rand ($1.6bn) for the six months ending on December 31, 2021, up 12%.
South Africa sees it as “imperative” to add more gas suppliers, in order to help develop the local sector.