Hawks arrest ANC MP over Eskom probe allegations
South Africa’s Hawks police squad has arrested a former minister Bongani Bongo, and MP from the ruling African National Congress (ANC) party, over alleged improprieties at the Eskom power utility.
South Africa
The place for gas in South Africa’s energy plans
The South African government has published its Integrated Resource Plan (IRP) with the aim of setting out the country’s future energy mix.
Engen’s IPO plans amid South African pressure
Plans are afoot for an initial public offering (IPO) of South Africa’s Engen, which might provide a rare bright spot in the country’s institutional outlook.
Total sets out cautious stance
Total’s investor presentation walked a fine line between commitments to new projects and steps to secure the confidence of investors.
Shell plans South Africa oil expansion with second deal
Royal Dutch Shell Plc is planning to acquire an oil-block stake in a second deal in South Africa’s relatively unexplored waters, months after a major discovery by Total SA boosted the country’s hydrocarbon prospects.
Total drilling for oil in world’s fastest ocean
Total SA’s discovery of South Africa’s first oil in deep water could prove to be a bonanza for a country lacking crude reserves of its own and prompt a rush from other majors. That’s if they’re able to solve the engineering challenges of operating in one of the fastest ocean currents in the world.
Africa’s hidden oil hub grows after making millions for traders
For oil traders, there’s no place quite like Saldanha Bay. When prices slumped in 2014, trading houses generated outsize profits by storing millions of barrels of crude in the deep-water harbor north of Cape Town.
Wood wins contract to expand huge South African pulp mill
Aberdeen-headquartered energy service giant Wood will expand the capacity of one of the world's largest dissolving pulp mills, while also improving its environmental footprint.
Tribunal approves Sinopec’s acquisition of Chevron’s South African assets
A competitions tribunal has approved Chinese-state-owned Sinopec's $900million deal for Chevron's assets in South Africa.
Glencore agrees $973milion stake in Chevron’s African business
Commodity and mining group, Glencore, are taking over a 75% stake in Chevron’s CVX.N South Africa unit and all of Chevron Botswana, claim Reuters.
South Africa to delay long-term power expansion plans
South Africa's government has decided to delay long-term nuclear power expansion plans, according to a document.
African firms SacOil and Nigdel end row over Nigeria licence
South-Africa-based SacOil and Nigdel United Oil Company have dropped legal claims against each other over a licence in Nigeria.
Energy consultancy TNEI unveils South Africa office
Energy consultancy and software provider TNEI has unveiled its first office outside the UK.
RedT Energy makes first inroads into African energy storage market
Energy storage technology firm RedT Energy had delivered its first storage systems Africa at a housing development in Johannesburg.
Mainstream connects 80MW wind farm to grid
Global wind and solar developer Mainstream Renewable Power has connected its 80 megawatt Noupoort Wind Farm in South Africa’s Northern Cape is now connected to the Eskom grid and commissioning of wind turbines has commenced, one year since it reached financial close and started construction.
Chevron to sell 75% of its South African unit
Oil major Chevron said it plans to sell 75% of its South African business unit.
Statoil makes move into South Africa with farm-in deal
Norwegian operator Statoil has made its first into South Africa after striking a deal with ExxonMobil Exploration and Production. The company has completed a farm-in transaction to acquire a share in the Tugela South Exploration Right. Statoil said the move represented access into a “frontier basin”.
Total to resume South Africa offshore drilling next year
French oil major Total is expected to resume drilling offshore South Africa in the second half of 2016, part of a broader campaign to explore in Africa, according to a senior official.
Syndicate to develop South African wind farm project
An international consortium is to develop two new wind farms, generating up to 250 mega watts, in South Africa.
South Africa’s ANC backs oil-law plan
South Africa’s ruling African National Congress backed a plan to split legislation governing the oil and gas industry from mining laws as the party begins a review of its policies.
Oil traders fill South Africa storage to the brim
South Africa's 45 million barrel strategic crude reserve depot is filled to capacity as oil traders hoping prices will rise in the future snap up storage capacity, two industry sources told Reuters. The state-run Strategic Fuel Fund Association (SFF) operates six underground crude bunkers at the Saldanha Bay facility, one of the largest oil storage centres in the world. Global crude prices have remained depressed since a supply glut led to a more than halving of prices last year.
New South African crude blending terminal to supply Asia from 2017
Using the world's first dedicated crude oil blending terminal, South Africa will by 2017 mix different grades of crude oil for export to refineries across Asia, enabling them to produce cleaner fuels more cheaply, an official said on Thursday. Construction of the 2 billion rand ($161 million) fuel blending farm, which consists of 12 massive concrete bunkers, should start in August with the first output expected for the second quarter of 2017, said Pieter Coetzee, a director at OiltankingMogs, a joint venture firm developing the terminal. "Our model is based on blending of different grades of crude to supply a specific recipe to a refinery," Coetzee said.
Rosatom says Russia can fund South Africa $100billion nuke plan
Russia’s government is ready to help South Africa fund new nuclear plants, estimated to cost as much as $100 billion, if state-owned Rosatom Corp. is awarded the construction contracts, a company official said. Moscow-based Rosatom has suggested several funding models, including helping South Africa secure a Russian loan, Viktor Polikarpov, regional vice president for sub-Saharan Africa, said in an interview in Cape Town on Thursday. The loan duration might be 20 years and South Africa would only start repayment when the first plant starts operating, he said.
PetroSA suspends top three execs
PetroSA has suspended its top three executives amidst declining revenues. According to reports, South Africa's state oil company has also made the move as a result of poor investments and a failed bid to enter the fuel retail market.