Egypt plans to upgrade six oil refineries at a cost of about $9-billion over four years to increase domestic production to 41-million tonnes a year, the petroleum minister said. "We are trying to secure crude oil supplies for Egyptian refineries to increase local production of refined products," the minister, Tarek El Molla, said during a [...]

South Africa turned down a request from its southern African neighbour Zimbabwe for a $1.2-billion loan in December, a spokesman for the finance ministry said on Monday. "South Africa doesn't have that kind of money," National Treasury spokesperson Jabulani Sikhakhane said.

South Africa is mulling committing to doubling the amount of electricity it will buy from a proposed multibillion-dollar hydro power plant in the Democratic Republic of Congo. Increasing the amount of electricity that South Africa will buy has become a linchpin for the companies seeking to build and operate the 11 000 MW facility. Congo [...]

Nigeria’s State-owned oil company said it’s in talks with financiers to raise as much as $4.1-billion and will seek to sign service deals to increase production from three leases. The Nigerian National Petroleum Corporation, or NNPC, is in discussions with Lagos-based Sterling Oil Exploration & Energy Production to raise $3.15-billion and CMES-OMS Joint Venture for [...]

“Location, location, location,” South Africa’s Minister Jeff Radebe quipped on Friday after a meeting with his Saudi counterpart, Khalid Al-Falih, where it was agreed that Saudi Aramco and the Central Energy Fund (CEF) would jointly study a plan for a new oil refinery and petrochemical investment in South Africa. Radebe listed both Coega, in the [...]

Energy Minister Jeff Radebe has reiterated that Cabinet could soon approve the long-awaited update to South Africa’s Integrated Resource Plan (IRP) for electricity, despite persistent suggestions that National Economic Development and Labour Council (Nedlac) sign-off of the document is still months away. Speaking at a briefing in Pretoria on Friday, following a meeting with Kingdom [...]

The Clough Salini Joint Venture (JV) has been selected as the preferred tenderer for about A$4-billion worth of civil works packages for the Snowy 2.0 project – a multiyear infrastructure project. Clough is a wholly owned subsidiary of Murray & Roberts and has a 35% shareholding in the JV.

Saudi Arabia plans to build an oil refinery and a petrochemicals plant in South Africa as part of $10-billion of investments in the country, Saudi Energy Minister Khalid Al-Falih said on Friday. In comments following a meeting with South Africa's energy minister Jeff Radebe in Pretoria, Al-Falih said Saudi oil would be used in the [...]

State-owned electricity utility Eskom is grappling with a coal supply shortfall at several power stations with long term contracts coming to an end, a senior company executive has said. South Africa is also experiencing lack of new mining investments in large scale coal mines and execution of current mining rights, while investors and funders are migrating away from [...]

Instead of granting increases to Eskom’s “fat cats”, the state-owned energy supplier should be told to reclaim money stolen through corruption, representatives from the National Energy Regulator of South Africa (Nersa) were told on Thursday. “We propose a radical shift in how electricity is produced and we insist those who were party to the corruption which [...]

Investec Bank and UK Climate Investments have committed a combined R1-billion to a dedicated renewable energy investment vehicle Revego Africa Energy. Revego Fund Managers (RFM) – a newly incorporated black-owned and managed fund manager – will be responsible for managing Revego’s investments in operating renewable energy projects in South Africa and other sub-Saharan African countries.

Having determined the procurement of 1 064 diesel and electric locomotives to be “irregular and unlawful”, Transnet has communicated its intention to review contracts awarded to four original equipment manufacturers (OEMs) in 2015. The State-owned freight logistics group has also indicated that it will seek to recoup those portions of the contracts that had been [...]