Industry News

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02
Jun

Petrol prices to increase by R1.18 per litre

Consumers will pay R1.18/l more for both grades of petrol from Wednesday, 3 June. This is in line with earlier projections by the Automobile Association against the background of a rise in the international price of crude oil. But the price of petrol is still about R2/l lower than it was at the beginning of lockdown in late March. Fuel prices are increasing across the board, according to a statement from the…

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01
Jun

South Africa diesel dearth to lift in weeks as refining restarts

A shortage of diesel fuel in South Africa will ease up in a few weeks when about 30% of its refining capacity, idled because of a drop in demand spurred by the Covid-19 lockdown, will return to service. Sasol and Total SA shut the Natref refinery in April after the government restricted economic activity to curb the spread of coronavirus. The measures also extended a planned shutdown by the Glencore-owned…

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01
Jun

Record high fuel price hurting your budget? 5 easy steps to save petrol

f you’re living in South Africa you know the petrol struggle is real and it has probably affected you in some way, whether you drive or use public transport. But if you drive, here are a few hacks that will save you petrol and lighten the dent in your pocket. Fill up early in the morning or late at night. Experts say petroleum products expand when they are warm, so…

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29
May

EXPECT A HUGE PETROL PRICE INCREASE!

The fall in the petrol price of recent months is set to come to an end in June, according to the latest projections released by the Automobile Association on Friday. The Association said in a statement that petrol is expected to increase by up to R1.18 a litre. The association also expects an increase of 22 cents for diesel and 41 cents for illuminating paraffin. Remarking on unaudited month-end fuel…

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29
May

Fuel price set to rise as economy gears up for Level 3 – AA

The fall in the petrol price of recent months is set to come to an end in June, according to the latest projections released by the Automobile Association on Friday. The Association said in a statement that petrol is expected to increase by up to R1.18 a litre. The association also expects an increase of 22 cents for diesel and 41 cents for illuminating paraffin. Remarking on unaudited month-end fuel…

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28
May

Diesel is in short supply around SA – and these areas could be worst affected

South Africa has begun to implement diesel rationing following unexpected high demand after lockdown. Officially, it's only supposed to last until the end of the month, but the DA says rationing might last till mid-June. Half of the country's six oil refineries were mothballed for lockdown and are only coming online now, while a third ran into technical problems. For more articles, go to www.BusinessInsider.co.za. Diesel shortages might continue until…

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26
May

Aramco is first oil major to regain pre-price war share price

Saudi Aramco is the first major global oil producer to see its stock recover to the level it traded at before the price war between Russia and Saudi Arabia. Aramco climbed 3.1% in Riyadh on Tuesday, advancing for a record sixth day alongside an extended increase in the price of crude. The stock has gained each session since the company announced it would retain dividend payouts, despite a drop in…

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26
May

If Sasol can’t raise its own money it may need state pension cash – if Gauteng wants petrol

Sasol plans a rights issue bigger than its entire market valuation right now, which it says will help reshape its balance sheet. If that doesn't work, it may have to be bailed out using the same government pension funds mooted to save Eskom. Sasol makes only around 30% of South Africa's fuel – but all of that goes to inland provinces like Gauteng, which don't have many options. For more…

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26
May

New CEO for SA’s state oil company

State oil company PetroSA announced on Wednesday that it had appointed Pragasen Naidoo as its new Group CEO with effect from January 17. He takes over from the group's interim head, Bongani Siyadini. Naidoo previously served served as the group chief operations and business development officer at the Central Energy Fund, the holding company under which PetroSA falls. PetroSA chairperson, Frans Baleni, said in a statement that Naidoo’s "demonstrable industry experience…

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20
May

Sasol opens bids for clean energy producers to supply its plants

Sasol, one of the country's biggest emitters of greenhouse gases, has invited bids from independent power producers for the supply of renewable energy to its local operations in a move to reduce emissions. The petrochemicals company, which operates mega facilities in Sasolburg and Secunda, where it converts coal into fuel and chemicals, said it had its sights on wind and solar energy producers with a generation capacity of at least…

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