Friday, February 22, 2019

South Africa News

Coal's Uncertain Future and Glencore's Output Cap

File Image: AdobeStock / © Leonid Eremeychuk

It's been weird in the coal world in recent days, with the world's largest shipper saying it's capping output, biggest seaborne buyer China putting restrictions on some imports, and an Australian court saying mines must factor in climate change.Throw in an executive at a major Indian coal-fired power generator…

India's Thermal Coal Imports Could Rise 10 pct in 2019

File Image: AdobeStock / © Eremeychuk

India's thermal coal imports could rise by about 10 percent in 2019 due to rail transport problems and other logistical bottlenecks, an executive at the country's largest coal trader Adani Enterprises said on Tuesday.Thermal coal imports rose in 2018 after two years of decline, despite moves by Prime Minister…

South Africa: Has Up to 60 tcf of Offshore Gas Potential

Photo: Total

South Africa, where oil major Total recently made a big offshore discovery, said on Friday it had potential gas resources of up to 60 trillion cubic feet in waters off its coast.Last week Total's chief executive said its offshore discovery probably contained 1 billion barrels of total resources, after successfully…

High Impact Exploration on The Rise

2019 High Impact Discoveries. Source: Westwood Wildcat Service

In the first few weeks of 2019 there have been four high impact discoveries of conventional oil and gas, finding 25% of the high impact volume discovered globally in the whole of 2018.According to Westwood Insight, one of these discoveries, Glengorm in the UK North Sea, is reported to be the biggest there…

Total Makes Discovery Off South Africa

(Photo: Odfjell)

French oil and gas major Total said it had made a significant gas condensate discovery after drilling its Brulpadda prospects on Block 11B/12B in the Outeniqua Basin, offshore South Africa.Total said the Brulpadda well encountered 57 meters of net gas condensate pay in Lower Cretaceous reservoirs. The well was deepened to a final depth of 3…

Norden Gets Sembcorp Contract

 Pic: DS Norden

Danish shipping company Dampskibsselskabet Norden has signed a ten-year Panamax contract of affreightment (COA) with Indian utility firm Sembcorp Energy India.Commencing April 1, Norden will carry out the transportation of steam coal in panamaxes totalling 12 million tonnes over the ten-year period  from…

Total Plans Biggest Exploration Drive in Years

(Photo: Total)

Total is launching its biggest exploration campaign for years in 2019 as part of a turnaround plan that is ditching the company's focus on risky long-shots in favor of areas known to contain commercial levels of oil or gas.The French major aims to drill 23 wells this year, its senior vice president for exploration…

Engie, EDPR, Sumitomo Pact to Build French Offshore Wind Farms

Image: EDP Renewables

French utility Engie and Spanish partner EDP Renovaveis (EDPR) announced their alliance with the Japanese group Sumitomo Corporation to build the French offshore wind farms of Dieppe-Le Tréport and Yeu-Noirmoutier.As part of the alliance, Sumitomo Corporation acquires a 29.5% equity stake in the French offshore…

Qatar Buys Eni's Mexican Oil Stakes

Photo: Qatar Petroleum

Qatar Petroleum (QP) signed an agreement with Italy’s Eni SpA to acquire a 35% stake in three offshore oil Fields in Mexico.The agreement cover the Amoca, Mizton, and Tecoalli offshore oil fields, which lie in Area 1 in Mexico’s Campeche Bay, said a press statement from the Arab country's government-owned…

OPEC and Non-OPEC Cooperation Deal to be Signed in Three Months -UAE

A general cooperation agreement between OPEC and non-OPEC countries will be signed in three months' time in Saudi Arabia, the UAE's energy minister said on Monday."By (the) end of March the document will be ready for signature," Suhail al-Mazrouei said at an event in Abu Dhabi of the cooperation agreement…

BP to Invest $1 Bln in South Africa

(Photo: BP)

BP Southern Africa (BPSA) will invest $1 billion in South Africa in the next five years with more than a quarter of that set aside to upgrade the SAPREF refinery to produce lower sulphur diesel, its chief executive said on Thursday.The 180,00 barrels per day SAPREF refinery, South Africa's largest, is a 50:50 venture between Royal Dutch Shell and BPSA…

Gabon Launches Offshore Exploration Round

© brumbyderek / Adobe Stock

Gabon plans to scrap a 35 percent corporate tax on energy companies as part of a revised hydrocarbons law and has launched a new offshore oil and gas exploration licensing round for 34 blocks, Oil Minister Pascal Ambouroue said on Wednesday.In March, Gabon, a member of the Organization of the Petroleum Exporting Countries…

Eskom Plans Executive Layoffs

South Africa's cash-strapped power firm Eskom has approved a plan to cut executives jobs as it struggles to bring down operating costs, the utility said on Wednesday, the first step in the firm's proposed restructuring."Eskom's operating costs have continued to increase dramatically while output has remained largely unchanged ...

Total E&P South Africa Contract for Solstad Farstad

Image: Solstad Farstad

Norwegian offshore vessel owner Solstad Farstad has been awarded contact  for two of its vessels by French oil major Total Total E&P South Africa."Total has awarded Solstad a contract for one Large Anchor Handling Vessel (AHTS) Normand Ranger (2010, VS 491 Design) and one Platform Supply Vessel (PSV) Far Starling (2014…

Oil Gains From Dollar Weakness

©  / Adobe Stock

Oil rose on Thursday, encouraged by a weaker dollar and evidence of strong U.S. fuel demand, though demand prospects remain clouded by the turmoil engulfing emerging markets and an escalation in the U.S. trade dispute with China.Emerging market stocks, bonds and currencies have plunged in recent weeks in response to financial crises in the likes of Turkey…

Kongsberg's Operational Advisory Solution for Harsh Environment Semi-Submersible

Photo: Kongsberg Maritime

Odfjell Drilling has awarded Kongsberg Maritime the contract to deliver a real-time monitoring and advisory solution to provide operational safety and non-productive time (NPT) improvements for the 6th generation semi-submersible, Deepsea Stavanger. The contract is in specific relation to an upcoming offshore…

Oil Falls on Weaker Economic Outlook, U.S. Stocks Rise

© Valeriy Lukyanov / Adobe Stock

A weaker global economic growth outlook and a report of rising U.S. crude inventories weighed on oil prices on Wednesday, even as U.S. sanctions threatened to curb Iranian crude supplies.Benchmark Brent crude oil was down 60 cents a barrel at $71.86 by 1325 GMT. U.S. light crude fell $1.02 a barrel to a low of $66.02…

Oil Slips as Focus Shifts to Demand in Coming Months

© Kokhanchikov / Adobe Stock

Oil prices edged lower on Monday as troubled emerging markets and trade tensions dented the outlook for fuel demand, though U.S. sanctions against Iran could mean tighter supply ahead. Brent crude futures fell 14 cents to $72.67 a barrel by 11:18 a.m. EDT (1518 GMT). U.S. West Texas Intermediate (WTI) crude…

Unique Group Adds Diving & Industrial Gas Supply Service

(Photo: Unique Group)

Offshore solutions provider Unique Group said it has extended its offering to include diving and industrial gas supply for the African offshore market from its base in Cape Town, South Africa.Rodney McKechnie, Group Director at Unique Group, said, “After a rigorous study of the diving industry and the current requirements of customers in the region…

For the Global LNG Industry, is the FSRU Honeymoon Over?

(Photo: Höegh LNG)

A giant vessel docked at the port of Moheshkhali in Bangladesh two months ago, propelling the populous but poor nation into the fast-expanding club of liquefied natural gas (LNG) buyers.The Excellence is the latest floating storage and regasification unit (FSRU), a type of carrier that has proliferated since…