Oil
Friday, 23 November 2012 08:14

SA’s oil giants charged with price-fixing

The South African Competition Commission has referred a case of collusion against the country’s major oil companies.

Wednesday, 30 November 2011 09:21

Oil and gas sector will drive African growth

Ernst & Young’s recently released report, “Africa oil and gas: a continent on the move”, reflected that Africa’s economic output has doubled over the past decade, and six African economies were among the fastest-growing in the world for the 2001-2010 period. African economies generally proved resilient through the financial crisis, with the International Monetary Fund forecasting sub-Saharan growth rates of 5,5% in 2011 and 6% in 2012.

Written by John Daly

While NATO members, led by France, piously proclaimed at the onset of their military offensive in Libya that their concerns were solely humanitarian, a covert tussle to gain a commanding lead in developing the country’s energy riches in light of Colonel Gaddafi’s departure is well underway.

Tuesday, 27 September 2011 09:30

Libya’s sweet and sour

Although Libya produces less than 2% of the world’s oil, the high quality of its reserves is rocking the boat in world markets, because Libya’s “sweet” crude oil cannot be easily replaced in the production of gasoline, diesel and jet fuel, particularly by the many European and Asian refineries that are not equipped to refine “sour” crude, which is higher in sulphur content.
Wednesday, 03 August 2011 09:54

Engen gets environmental accreditation

The crude-oil refinery of Engen and its depot in Wentworth, Durban, have received accreditation for its environmental management systems with certification under the ISO 14001 standard.
Wednesday, 03 August 2011 09:52

Lukoil sets its sights on West Africa

A Russian oil and gas company, Lukoil, is looking for growth outside its borders and has set its sights on West Africa. On 20 July the company announced that it had acquired a 45% stake in deepwater Block SL-5-11 offshore Sierra Leone from the private Nigerian explorer Oranto Petroleum, adding to its acreage in Ghana and Côte d’Ivoire.
The Swedish Transmission Research Institute (STRI) and DNV has signed an agreement in an effort to meet the increasing market demand for advanced solutions for power transmission in the offshore and wind energy sectors.
The oil giant Chevron has been ordered to pay over US$8-billion in damages for polluting in Ecuador between 1964 and 1990. The award, which was granted on 14 February 2011, is one of the largest environmental damages claims ever given, but Chevron feels the claim is illegitimate.
The African downstream petroleum marketer Engen has purchased operations from Chevron in Africa – Mauritius and Tanzania.
COSL Pioneer is China’s first deep-water semi-submersible drilling platform and according to DNV, it is one of the most advanced drilling platforms ever built.
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