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Articles in category: Fuels & Lubricants
Oil prices fell in subdued Asian trade on Wednesday after speculation about the dim prospects for an Opec oil production cut.(Read Full Article)
Brent oil dropped to a new four-year low below $82 (R914) a barrel, a fifth straight day of losses, as weak economic data from top energy consumer China intensified worries about demand as a global supply glut grows.(Read Full Article)
SASOL’s polymer business is unprofitable — hence it is uncertain if it would make the investments necessary to modernise, says the petrochemical giant’s senior vice-president for strategic projects Norbert Behrens.
Mr Behrens and his colleagues were on Friday called before Parliament’s trade and industry committee to explain the pricing policy that Sasol used for its polymer products. This is a sensitive issue in the light of the decision by the Competition Tribunal to fine Sasol Chemical Industries R534m for the excessive pricing of its propylene and polypropylene products.(Read Full Article)
PetroSA recorded an overall net loss of R1.65bn in the 2013/14 financial year, the company said on Tuesday.
While the company made an operating profit of R2.2bn, this was against the R3.4bn impairment charge against PetroSA's onshore and offshore assets, spokesperson Thabo Mabaso said in a statement.
"This is the result of a volatile economic environment, creep in project costs and delays in the feedstock drilling programme (Project Ikhwezi)." Impairment is the reduction in a company's stated capital.
Nosizwe Nokwe-Macamo, PetroSA group CEO, said the company had a trying year with the main focus ...(Read Full Article)
CONSTRUCTION group Murray & Roberts (M&R) believes that by 2020 it will have established its oil, gas and energy services, CEO Henry Laas said on the release of full-year results to June on Wednesday.
Group revenue of R36bn was slightly up from R34.2bn in the year to June last year. Diluted earnings per share rose 25% to 305c. A dividend of 50c per share was declared. None was declared in the comparable period.
However, the order book shrank from R46.1bn to R40.9bn.(Read Full Article)
The Veeder-Root Company has acquired FuelQuest, Inc. Located in Houston, Texas, FuelQuest is the recognized Software as a Service (SaaS) provider for retail and commercial fueling logistics applications. With over 15 years of experience in logistics software development and analytics, FuelQuest will combine with Veeder-Root's Insite360 Fuel business to provide a best in class, end-to-end solution for controlling wet stock from rack to nozzle.
The acquisition demonstrates Veeder-Root's commitment to supporting retail and commercial fueling customers' desire for increased control of their fuel purchases, deliveries, variance, flow, compliance and managed maintenance needs.(Read Full Article)
South African Oil and Gas Alliance CEO Ebrahim Takolia has argued that South Africa should first increase the size and distribution network of the local gas market.(Read Full Article)
Oil firm Sasol is working to increase the number of local firms in its Mozambican supply chain, a conference was told. Benjamim Cavel, local content manager for Sasol in Mozambique, said the company had to “lead by example” and it was working with local suppliers to bring them up to the level where they can compete with multinationals.
THE Competition Commission is studying ways to improve competitiveness in the market for liquefied petroleum gas (LPG), which it says could become an affordable alternative energy source for households.
LPG, a by-product of the oil-refinery process, is mainly used for heating and cooking.
Only about 3% of households use LPG as their main energy source for cooking, according to statistics from the Department of Energy.
“The demand for LPG seems to be growing as more users diversify their energy mix in response to, among others, the power shortfalls and the increasing electricity price,” said the commission(Read Full Article)
Gas provider Afrox has signed a five-year, R55-million contract to supply bulk and cylinder liquefied petroleum gas (LPG) to South African hotel chain, Sun International. Afrox MD Brett Kimber said on Wednesday that securing the “major” agreement against strong competition could be attributed to the group’s national footprint and ability to access product, be it from local refineries or by importing LPG during periods of shortage.(Read Full Article)
Developing its own natural shale and offshore gas resources will be South Africa’s best long-term energy option, but building liquefied natural gas (LNG) terminals would be the quickest and cheapest way to develop the gas market, according to Shell South Africa Energy’s LNG market access manager John Shoobridge.(Read Full Article)
The National Treasury on Tuesday published the ‘Carbon Offsets Paper’ for public comment, outlining proposals for a carbon offset scheme that would enable businesses to lower their carbon tax liability.(Read Full Article)
BSR recently launched “Transitioning to Low-Carbon Fuel: A Business Guide for Sustainable Trucking in North America.”
According to Edward Cameron, director, partnership and research, the report is designed to help fleet operators and their value chain partners comply with new and future regulations.
“Value chain partners include energy producers, vehicle manufacturers, retailers that place shipments, and investors,” he says. “All want to develop impactful yet practical strategies that will accelerate the transition to low-carbon fuels, improve the sustainability impacts of all fuels, and advance dialogue and understanding about our shared challenges.”
This guide addresses five key challenges that have hindered ...(Read Full Article)
Chief Executive Officer of the Ghana Gas Company, Dr George Sipa Yankey, announced that the first gas from the Jubilee Fields will start to power the Aboadze thermal plant as early as end of June 2014.(Read Full Article)
Africa’s energy sector has long been working to widen energy access to unlock the continent’s vast potential. Energy access remains a critical priority for this dynamic region.
Africa’s energy sector has long been working to widen energy access to unlock the continent’s vast potential. Energy access remains a critical priority for this dynamic region.(Read Full Article)
JOHANNESBURG (miningweekly.com) – At present, countries are so focused on the immediate challenges of energy security and energy access that the environmental impact associated with addressing these challenges is mostly ignored, Mac Consulting principal consultant Dave Collins said on Tuesday.(Read Full Article)
Durban environmental activists have vehemently rejected an application by multi-national energy giant ExxonMobil to explore for oil and gas offshore along the KwaZulu-Natal coastline, citing the company’s poor environmental track record as a major concern.
A major worry is also the effects of seismic surveys on whales and dolphins.
Activists and subsistence fishermen were almost unanimous in their call at a public meeting in Austerville last night to resist ExxonMobil Exploration & Production South Africa Limited’s recent application to the Petroleum Agency South Africa (Pasa) for an exploration right in the so-called “Deepwater Durban Exploration Area” offshore.(Read Full Article)
Anglo-Dutch oil company Royal Dutch Shell plans to sell off assets, cut spending and freeze a controversial Arctic drilling programme in a new focus on returns following a major profit warning. Just a month into his new job as chief executive of the world’s No 3 investor-owned oil company, Ben van Beurden set out plans to make the group much leaner.
"Our overall strategy remains robust, but 2014 will be a year where we are changing emphasis, to improve our returns and cash flow performance," Mr van Beurden said in a statement.(Read Full Article)
Thin-film solar company First Solar is aggressively pursuing build operate and own (BOO) fuel-replacement projects in the global resources sector and is offering miners the prospect of displacing diesel through the use of increasingly cost-competitive solar energy. The Nasdaq-listed group recently appointed an executive with the specific mandate of promoting these hybrid solutions and also confirmed that its $1-billion-strong balance sheet could be leveraged in support of the strategy.(Read Full Article)
Forecasting fuel rates has never been more difficult for shippers, maintains Derik Andreoli, Ph.D.c., a senior analyst at Mercator International LLC and Logistics Management’s popular Oil & Fuel columnist. When planning for 2013 energy fluctuations, logistics managers must keep an eye on several global issues, he says.(Read Full Article)
The price for a barrel of oil rose above 100 dollars Friday amid concerns over instability in Libya and South Sudan, plus a growing U.S. demand for fuel.(Read Full Article)
In its single-largest contract for services or goods to date, freight logistics group Transnet has announced the awarding of a five-year, R15.5-billion fuel supply deal to nine black and women-owned companies.
Following a “rigorous, open and public” bidding process overseen by a committee of the board of directors, Afric Oil, Borutho Gas Supply, Gulfstream Energy, KZN Oils, Mzumbe Oil, NRW Trading & Logistics, Tlhokaina 21, Women Of Africa Fuels & Oils and Yem Yem Petroleum were contracted to service the parastatal’s fuel requirements over the next half-decade.
Speaking at a media briefing on Thursday, Public Enterprises Minister Malusi Gigaba said ...(Read Full Article)
Progress in the drafting of a 20-Year Liquid Fuels Infrastructure Road Map has been sluggish, but the country still appears to be on the cusp of a revival in investment into its liquids fuel infrastructure, with a number of storage and logistics projects beginning to take shape.(Read Full Article)
The launch of the Saldanha Bay industrial development zone (IDZ) by President Jacob Zuma on Thursday signalled a new era for the development of an oil and gas servicing and repair hub in the Western Cape.
The newly established IDZ was strategically located to serve oil and gas vessels operating along the African coastline, as well as provide an opportunity for components manufacturing in support of the oil and gas industry.
In 2012, 5 800 jobs were created in the oil and gas industry and the sector attracted R1.2-billion of investment into the economy, said Western Cape Finance, Economic ...(Read Full Article)