Industry News

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28
Mar

Steep hike in fuel price, levies to take their toll on SA motorists – AA

Johannesburg - The fuel price is set for a steep hike as higher fuel levies kick in, and an increase in international fuel prices makes its presence felt, reports the Automobile Association (AA), commenting on unaudited month-end fuel price data released by the Central Energy Fund. The AA said: "International petroleum product prices, which have remained stable since mid-February, have climbed sharply since 12 March. We're anticipating an increase of…

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Shell looks beyond petrol to secure future of refining
28
Mar

Royal Dutch Shell appoints woman to head its US business

Houston — Super-major oil producers are increasingly promoting female executives to oversee marquee US assets. In the latest turnabout for an industry dominated by men for all of its 159-year history, former Maersk Oil CEO Gretchen Watkins is set to oversee Royal Dutch Shell’s sprawling US business that includes wells and refineries from the Gulf of Mexico to the Pacific Northwest. Watkins’s recruitment by the world’s second-largest oil explorer by…

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27
Mar

Proposed Western Cape fuel levy ‘price shock’ prompts outcry

The decision by the Western Cape provincial government to consider introducing a provincial fuel levy has been opposed by various organisations, including the ANC. It emerged last week that the provincial government was considering introducing a fuel levy over and above the national levy that motorists must pay. Finance MEC Ivan Meyer said the province had employed consultants to consider the viability of a provincial fuel levy. The provincial government…

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22
Mar

Former energy minister and CEO named in strategic fuel ‘heist’

Former energy minister Tina Joemat-Pettersson and the then CEO of the Strategic Fuel Fund (SFF) Sibusiso Gamede have been named in court papers as the people at the centre of one of the biggest heists of state assets — the secret sale 10-million barrels of strategic fuel reserves in 2015. The Central Energy Fund (CEF) and its SFF subsidiary have approached the High Court in Cape Town to have the…

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19
Mar

‘Fuel will be more expensive in April’ – AA

Johannesburg - 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 released by the Central Energy Fund. The AA says: "The Rand/US dollar exchange rate has been virtually flat since…

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15
Mar

‘Fuel will be more expensive in April’ – AA

Johannesburg - 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 released by the Central Energy Fund. The AA says: "The Rand/US dollar exchange rate has been virtually flat since…

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14
Mar

Sinopec and Chevron deal gets green light

Chinese oil giant Sinopec has won regulatory approval for its $900m bid for SA’s second-largest oil company, Chevron SA— but it could still be trumped by a rival bid from Chevron SA’s empowerment shareholders, who are backed by Glencore. The Competition Tribunal on Friday gave the go-ahead to the Sinopec deal, after Sinopec agreed to a couple of extra conditions in response to complaints by Chevron SA’s branded marketers. The…

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09
Mar

SA motorists not prepared to give up on diesel — but happy about dashcams

More than a third (37%) of South African motorists say they will still choose diesel vehicles, despite studies which show that thousands die prematurely as a result of diesel engines exceeding their stated emissions standards. This is one of the findings in a recent survey by the Automobile Association (AA). The survey also found that 56% of respondents preferred diesel over petrol engines‚ with only 4% stating that knowing of…

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06
Mar

Big drop in the petrol price this week

Motorists will pay less for petrol at the pumps from Wednesday, thanks to the rand’s performance against the dollar over the past month, the Department of Energy said. Petrol will drop by 36 cents a litre, while diesel will decline by between 44 cents and 47 cents per litre. The department said that illuminating paraffin will decrease between 23 cents and 30 cents while liquefied petroleum gas will drop by…

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