Industry News

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29
Nov

SA mulls Singapore as reference for basic fuel price

South Africa’s Department of Energy proposed changes to the structure of the nation’s basic fuel price as it seeks to reduce the cost of petrol and diesel. The proposals include making Singapore the main reference market for the basic price of petrol, diesel and kerosene, removing a premium on the freight rate and reducing the coastal storage element in the calculation. The basic fuel price accounts for just under half…

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19
Nov

Total returns to SA to drill offshore in JV with Canada and Qatar

Global oil giant Total will commence with exploration drilling off SA’s south coast next month, after four years of planning. Total’s return also signals renewed investor confidence in SA, where exploration activity has been stalled by chronic policy uncertainty. But the government’s proposed withdrawal of the contested Minerals and Petroleum Resources Development Act Amendment Bill, and a commitment to develop a separate policy framework for oil and gas sectors, has…

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06
Nov

The Fuel Retailers Association, representing more than 2,500 fuel retailers, has hit back at the government’s proposal to cap the price of 93 octane petrol, claiming it will cut into wafer-thin profit margins and accelerate job losses in the sector. In a bid to ease the pressure high petrol prices are putting on consumers, the department of energy has proposed capping the price of 93 octane petrol. It says that…

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05
Nov

Petrol price unchanged, but increases in other fuels

Government is keeping the petrol price unchanged. However there will be price increases for other fuels. The department of energy (DOE) released the fuel price changes for November on Monday. In the statement, the DOE indicated there would be no change to both grades of petrol. Diesel (0.05% sulphur) will increase 47.92 c/l, while diesel (0.005% sulphur) will increase 50.92 c/l. Illuminating paraffin (wholesale) will increase 28 c/l increase and…

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