Latest News & Developments
oil and gas industry
BRICS+ Series: Brazil’s Steel and Oil Sectors Power Ahead Despite Global Headwinds
Brazil's steel and oil industries are evolving amidst political challenges and global trade dynamics, as the country positions itself as a key player in the new Silk Road.
Trump's new policy: relaxing protections for migratory birds
Suspension of migratory bird protections sparks conservationists' alarm
BRICS+ Series: BRICS and the Future of Oil Pricing: Ending the Petrodollar Monopoly
The petrodollar system, which mandates that most oil transactions be made in U. S. dollars, has controlled the world oil market for decades. The dollar's standing as the world's reserve currency has been strengthened by this system, which has given the US a distinct kind of economic hegemony and enabled Washington to exercise considerable financial influence through tools like sanctions. But by lessening their reliance on the dollar, the BRICS countries are actively changing the global energy market.
Trump in 'no rush' to speak with China's Xi despite tariff battle
Global markets brace for impact as US-China trade tensions escalate, with Trump imposing fresh tariffs on Chinese goods while deliberately postponing talks with President Xi Jinping. Beijing's immediate retaliation with counter-tariffs on US energy and vehicles signals a deepening economic confrontation between the world's largest economies.
Fuel price increases confirmed: here’s how much you’ll pay for petrol and diesel from February 5
Big increases for both petrol and diesel have been confirmed by the Department of Mineral and Petroleum Resources. Here's how much more a tank will cost you.
Global markets brace for Trump's 25 percent tariff threat on key trade partners
Global markets stand on edge as Trump's sweeping tariff deadline approaches, threatening to impose 25 percent duties on Canada and Mexico, plus additional levies on China. With less than 24 hours remaining, three of the world's largest economies prepare for potential economic shockwaves.
International oil prices recede, but not in time to soften February’s big fuel price blow
International oil markets are facing uncertain times in the wake of Donald Trump’s Presidency. Here's what the impact will be on your pocket next month.
Wealthy nations fail to agree curbs on fossil fuel finance
Wealthy nations have failed to reach an agreement on curbing public finance for fossil fuel projects, the OECD said on Tuesday, days before climate-sceptic US President-elect Donald Trump takes office.
Joe Biden issues major coastal protection before Donald Trump handover
US President Joe Biden on Monday banned offshore drilling across an immense area of coastal waters, weeks before Donald Trump takes office pledging to massively increase fossil fuel production.
COP29: Fossil fuel lobbyists outnumber Climate-vulnerable nations’ delegates
At COP29, fossil fuel interests dominate the scene, eclipsing voices from climate-vulnerable nations in urgent calls for action.
COP29 dominated by fossil fuel lobbyists advocating for carbon capture technologies
At COP29, 480 lobbyists pushing controversial carbon capture technologies have access to negotiations, raising concerns over fossil fuel interests and their role in shaping climate policy.
‘2024 set to be the hottest year yet’ as COP29 climate talks open in Baku
With 2024 on track to be the hottest year on record, COP29 begins amid fierce debates on climate finance, fossil fuel influence, and carbon emissions.
Trump-Rogan podcast touches on election, tax reform, and extraterrestrial life
Donald Trump’s three-hour podcast with Joe Rogan stirred debate with repeated election fraud claims, tax proposals, and musings on life on Mars.
Ramaphosa and Mantashe: The mine bosses’ Trojan Horses and their final act of betrayal
Ramaphosa’s early political involvement was first shaped by Christian student politics and later Black Consciousness movements. But his trajectory soon intersected with the interests of South Africa’s corporate elite.
Nigeria's Dangote refinery caught between promise and reality
Aliko Dangote says he is awaiting the green light from the state-run Nigerian National Petroleum Company (NNPC), the only entity that buys gasoline for the domestic market.
Eskom forecasts no load shedding in summer of 2024, says Ramokgopa
South Africans could potentially enjoy a summer season without experiencing load shedding as Eskom is showing improvement. Are we finally out of the dark?
Major oil spill hits South Africa’s west coast after cargo ship breaks apart
An oil spill emergency has struck South Africa's west coast after the MV Ultra Galaxy cargo ship broke apart during severe weather, leading to a coordinated clean-up effort.
Morongwe Mokone and Refilwe Sebothoma shine at 2024 Veuve Clicquot Awards
Morongwe “Mo” Mokone and Refilwe Sebothoma, pioneering entrepreneurs, have been named the winners of the 2024 Veuve Clicquot Awards in the categories of Bold Woman and Bold Future Awards, for their exceptional impact on innovation and sustainability.
These are Africa's five richest men
Explore the fortunes and ventures of Africa's wealthiest individuals, from Nigeria to South Africa.
Transnet to fight R6bn cost award to Sasol and TotalEnergies
Transnet said the variation agreement had as its central feature that, in calculating the tariff from Durban to the Natref refinery, the so-called “neutrality principle” would apply in terms of which Natref would neither be advantaged nor disadvantaged by its inland location
Fuel price drop fails to impress struggling SA motorists
The news was met with a lukewarm reception on social media, with many expressing that the drop is not enough.
African leaders navigate fossil fuel dilemma in Climate Summit Declaration
The UAE has made the phase-down of fossil fuels a central agenda item, with President-designate Sultan al-Jaber describing it as “essential” and “inevitable”.
SCA dismisses Shell’s appeal, but extends lifeline for Wild Coast exploration
The Supreme Court of Appeal has dismissed Shell's appeal on Wild Coast oil exploration rights, but allowed a renewal application process, raising concerns over community consultation and environmental rights.
Wild Coast communities defend High Court victory against Shell in Supreme Court of Appeal
The ongoing legal saga continues as Wild Coast communities fight to protect their land and livelihoods against the backdrop of environmental degradation and corporate interests. Expert opinions shed light on the broader implications for environmental justice and community empowerment.
World oil demand grows amid Red Sea shipping disruptions: IEA
The global oil demand is expected to rise sharply as the supply routed through the Red Sea has come under attack by Yemen’s Huthi Rebels who are protesting the Israel-Palestine war.