Fuel price set to increase in August
The price of petrol is expected to increase by 19 cents a litre from Wednesday, the Department of Energy announced. In a statement issued on Friday, the department said the main reasons for the petrol increase was the slight decline in the rand against the US Dollar Exchange rate... Read more
Energy minister meets petroleum industry
Energy Minister Mmamoloko Kubayi this week met with the board of governors of the South African Petroleum Industry Association (SAPIA). The meeting held on Monday sought to find ways of strengthening and improving working relations to find lasting solutions to the challenges facing the petroleum sector. “The meeting dealt... Read more
Billion-rand steel fund comes into effect
AN R1.5 billion steel competitiveness fund will come into effect next month, Economic Development Minister Ebrahim Patel said on Thursday. Addressing media prior to tabling the Department of Economic Development Budget Vote in Parliament, Minister Patel said the fund will target downstream steel sectors, including foundries and valve and... Read more
Economic Development, Environmental Affairs and Tourism MEC Mcebisi Jonas has announced that his department “will increase its investment in Coega over the next two years for bulk infrastruc-ture in anticipation of the Kalagadi manganese smelter”. A total of R42 million has been provided in his department’s budget for the... Read more
National Oil Company PetroSA is involved in “business arrangements with private companies” regarding a private-public-partnership for the funding of a new refinery, Energy Minister Dipuo Peters has told the National Assembly. Replying to a question, the Minister said her department was currently developing a 20-Year Liquid Fuels Infrastructure Road... Read more
A feasibility study is currently underway for a smaller-sized oil refinery that originally planned for the Coega Industrial Development Zone. The Budget Review, tabled with the National Budget yesterday, puts the cost of the original project that would have produced 360 000 b/p/d, including related infrastructure, at R200 billion.... Read more
Agni-Steels South Africa that is constructing a R400-million steel plant in the Coega Industrial Development Zone will be fully operational in May or June, a year after work on the project began. The export of the first steel billets is expected by the end of June. The company plans... Read more
21-12-2011 -The “intention” was to ensure that the new oil refinery planned for the Coega Industrial Development Zone was “in operation by the end of this decade,” Energy Minister Dipuo Peters has told the National Assembly.The Minister’s statement comes at a time when doubts have been expressed as to... Read more
15-11-2011 – The National Planning Commission (NPC) appears to be lukewarm about a new oil refinery in the Coega Industrial Development Zone (IDZ) saying at this stage “the least risky and most cost effective option seems to be continued importing of a share of refined product needs”. It states... Read more
14-11-2011 – Coega Development Corporation CEO Pepi Silinga has warned that the support of National Treasury is still required for the giant multi-billion Rand Project Mthombo. Briefing the Bhisho Legislature’s Economic Development, Environmental Affairs and Tourism Committee, he said political support from the Eastern Cape for the proposed oil... Read more