African Bank recently announced its new loyalty programme "Audacious Rewards". The loyalty programme will allow members to earn and redeem points on daily purchases, including groceries, fuel, and exclusive aspirational rewards. African Bank aims to reward customers' positive financial behaviour with an improved credit score. For more stories go to www.BusinessInsider.co.za.  African Bank recently announced the launch of its new loyalty programme, "Audacious Rewards", aimed at making various financial services easily…

TotalEnergies has lodged its production licence application for Block 11B/12B offshore of South Africa, the national petroleum regulator said on Tuesday, before a deadline expired which might have seen the oil major forfeit its right to develop the huge discovery. The deadline would have expired this week. The application was filed on Monday and "will be assessed for completeness over the next 14 days", the Petroleum Agency of South Africa…

The price of both 93 and 95 unleaded petrol will be lowered by R2.04 a litre on Wednesday, the Department of Mineral Resources and Energy announced on Monday. This will lower the price of 95 petrol in Gauteng to R23.38 a litre, from a record high of R26.74 in July. That said, petrol cost only R19.61 at the start of the year. Bloomberg reports that this week's cut of 8%…

Get the biggest business stories emailed to you every weekday, or go to the Fin24 front page. Europe's wealthiest nations face rising risks of civil unrest over the winter, including street protests and demonstrations, due to high energy prices and mounting costs of living, according to a risk consultancy firm. Both Germany and Norway are some of the developed economies experiencing disruptions to everyday life because of labour actions, a trend already seen in the United Kingdom,…

On Friday, Sasol said it was partnering with Japan’s Itochu Corporation to explore the development of green hydrogen and green ammonia projects for shipping fuel and power generation. Sasol, a global chemicals and energy company, is the world’s biggest producer of fuel products and chemicals from coal, but is transitioning away from the fossil fuel as part of its decarbonisation plan. Green hydrogen, produced from splitting water into hydrogen and…

Get the biggest business stories emailed to you every weekday, or go to the Fin24 front page. An explosion rocked a key oil refinery in Iran's southwestern city of Abadan overnight, state media said Friday, reporting no casualties. The explosion was caused by the "bursting of one of the furnaces of the sulphur production unit of Abadan refinery", state news agency IRNA said. The blast "did not cause any casualties", it added, noting that production at the…

Get the biggest business stories emailed to you every weekday, or go to the Fin24 front page. According to the latest data from the Central Energy Fund, the price of 95 unleaded petrol is expected to fall by around R2.35 a litre on Wednesday. The price of 93 petrol could drop by around R2.18 a litre. Diesel looks set to be reduced by between 77c and 87c a litre. The price of illuminating paraffin is also…

Get the biggest business stories emailed to you every weekday, or go to the Fin24 front page. According to the latest data from the Central Energy Fund, the price of 95 unleaded petrol is expected to fall by around R2.28 a litre in the first week of September. The price of 93 petrol could drop by around R2.12 a litre. Diesel could be reduced by more than a rand a litre. The price of illuminating paraffin…

Get the biggest business stories emailed to you every weekday or go to the Fin24 front page. Malaysian state energy company Petroliam Nasional has revived a sale of Engen, South Africa’s largest fuel station chain, people familiar with the matter said. Petronas is working with advisers to solicit bids for its controlling stake in the fuel retail business, which could fetch about $2 billion (almost R34 billion), according to the people. It’s attracting interest from suitors…

Get the biggest business stories emailed to you every weekday, or go to the Fin24 front page. France's TotalEnergies said Friday that its Russian joint venture partner had confirmed it was not supplying Moscow with jet fuel to carry out strikes in Ukraine, following an investigative report by French daily Le Monde. While most global energy giants have quit operating in Russia since its invasion of Ukraine, TotalEnergies has kept its lucrative natural gas operations in the…