JOHANNESBURG, Sept 10 (Reuters) – South African
petrochemicals group Sasol Ltd plans to pursue its
natural gas-focused strategy through further acquisitions or by
partnering with other producers to convert their gas into fuel
or chemicals, a senior official said on Monday.
Sasol is the world’s top maker of motor fuels from coal, but
has increasingly been diversifying into chemicals, gas and
clean-energy projects, partly to align itself with wider moves
to low-carbon systems and to benefit from low gas prices.
JOHANNESBURG, Aug 1 (Reuters) – South Africa’s Exxaro
is looking to invest in platinum group metals or copper
to benefit from a favourable market and become a fully
diversified miner, a senior executive said on Wednesday.
Exxaro, which posted an 11 percent rise in first-half
earnings, has been on a push to diversify beyond its traditional
reliance on coal, mineral sands and its 20 percent stake in iron
ore miner Kumba Iron Ore.
JOHANNESBURG (Reuters) – South Africa’s PetroSA is in talks to buy assets in Ghana from Sabre Oil and Gas, including a stake in the lucrative Jubilee field, the head of the government-owned oil group said on Thursday.
Under new leadership since March, PetroSA has become more aggressive about new projects, scouting Africa for oil and gas and buying downstream assets to diversify its revenue beyond a gas-to-liquids plant in South Africa.
JOHANNESBURG, July 10 (Reuters) – South African logistics
group Transnet is committed to raising capacity on its
coal export rail line despite a policy debate that could curb
outside sales if the commodity is declared a “strategic
resource,” its head said on Tuesday.
Coal exporters in South Africa, which include Anglo American
, Exxaro, Sasol, BHP Billiton
and Xstrata Coal, have long been eager to export
more coal to supply growing demand from power plants in Asia.
MAPUTO (Reuters) – In Mozambique’s port capital Maputo, glitzy offices, boutique hotels and fancy restaurants are popping up alongside crumbling colonial buildings, nourished by multi-billion dollar investment in coal and gas deposits to the north.
Luxury cars jam crowded streets and smart-suited business executives strut the sidewalks.
JOHANNESBURG (Reuters) – South African bank Absa (ASAJ.J: Quote, Profile, Research, Stock Buzz) will pay $1.2 billion for the store credit card business of unlisted domestic retailer Edcon, it said on Wednesday, bulking up its presence in the high-margin but riskier unsecured lending market.
Under the deal, Absa, majority-owned by Britain’s Barclays Plc (BARC.L: Quote, Profile, Research, Stock Buzz), will also extend credit and sell other financial products to the nearly 4 million customers of South Africa’s biggest clothing retailer.
JOHANNESBURG, June 6 (Reuters) – South African bank Absa
will pay $1.2 billion for the store credit card
business of unlisted domestic retailer Edcon, it said on
Wednesday, bulking up its presence in the high-margin but
riskier unsecured lending market.
Under the deal, Absa, majority-owned by Britain’s Barclays
Plc, will also extend credit and sell other financial
products to the nearly 4 million customers of South Africa’s
biggest clothing retailer.
JOHANNESBURG, June 6 (Reuters) – Brtiain’s Aggreko
and its local joint-venture partner Shanduka Group will supply
107 megawatts of gas-fired power to Mozambique and South Africa,
the company said on Wednesday, helping to plug electricity
shortages in the region.
Countries in southern Africa have been struggling to meet
fast-rising demand for power, with the next two years seen as
particularly tight until new power plants start coming online.
JOHANNESBURG, May 31 (Reuters) – South Africa’s crude oil
imports from Iran fell 43 percent to 286,072 tonnes in April
from the previous month, customs data showed on Thursday,
indicating Pretoria could be cutting shipments to avoid looming
South Africa has come under Western pressure to cut Iranian
crude imports as part of sanctions designed to halt Tehran’s
suspected pursuit of nuclear weapons, but the response from
diplomatically non-aligned Pretoria has been unclear for months.
JOHANNESBURG, May 14 (Reuters) – It is five o’clock in the
evening in South Africa and the computer dials at the
nerve-centre of state electricity firm Eskom are cranking
towards the red as millions of people get home and turn on their
heating, hot water and cookers.
In the next two hours, demand will jump sharply, pushing the
grid towards its limits and a repeat of the emergency rolling
blackouts, known as ‘load-shedding’, that wreaked havoc on
Africa’s biggest economy in 2008.