LATEST COMPANY NEWS. - Free Online Library (2024)

Link/Page Citation

Reuters - TotalEnergies says will quit South African offshore gas block - 29/7/2024

TotalEnergies said it would withdraw from an offshore natural gas block off South Africa's southern coast because developing the finds commercially would be too difficult.

For the complete story see:

https://www.reuters.com/business/energy/totalenergies-says-will-quit-south-african-offshore-gas-block-2024-07-29/

Reuters - BP green lights sixth production hub in Gulf of Mexico - 30/7/2024

BP said it has given the go-ahead for the sixth operated hub, Kaskida, in the U.S. Gulf of Mexico, with oil production slated to start in 2029.

For the complete story see:

https://www.reuters.com/markets/commodities/bp-green-lights-sixth-production-hub-gulf-mexico-2024-07-30/

African Energy Chamber - No More Delays on South Africa's New Oil and Gas Law - 29/7/2024

The South African government must expedite oil and gas legislation to boost investor confidence.

For the complete story see:

https://energychamber.org/no-more-delays-on-south-africas-new-oil-and-gas-law/

Gas Pipeline

The South African Government through its South African Development Gas Company (iGas) forged a Public Private Partnership with the Government of Mozambique through its Companhia Mocambiçana de Gasoduto (CMG) and Sasol Holdings. The Republic of Mozambique Pipeline Company (ROMPCO) is responsible for operating the 865 km high-pressure Mozambique-South Africa Gas Pipeline connecting the onshore gas fields in Pande and Temane from Mozambique to Sasol's operations in South Africa. Their aim is to continue to enable regional markets and gas monetization across the continent, as well as to expand the network in line with growing regional market demands.

The pipeline went into service in 2004 with a capacity of 170 megajoules (MJG). In March 2015 a 128 km loop line was completed parallel to the pipeline, raising annual capacity to 188 MJG. In February 2017 an additional 127 km loop was completed parallel to the pipeline, raising annual capacity to 212 MJG. Below is an outline of the pipeline currently in place:

In July 2020, Sasol Gas Holdings announced that it would be selling its 50% stake in the Mozambique-South Africa Pipeline to help reduce the company's debt burden.

Gas to Power

The initial development period of South Africa's gas industry is dependent on the demand provided by the Gas to Power Programme. The potential to link the Gas to Power Programme to supply a limited amount of gas, marketed in the form of a gas supply agreement (GSA), for industrial and other uses is also a key factor being explored in the country's development of the gas industry.

The absence of available natural gas within South Africa, along with the pressure to ensure new capacity is delivered in timeframes commensurate with the objectives outlined in the medium-term risk mitigation project, makes it necessary to import gas, inter alia, in the form of either liquefied natural gas or compressed natural gas. As a consequence, the Gas to Power Programme design has the potential means to catalyze the importation of such gas.

It is anticipated that Eskom Holdings (SOC) Limited, in its capacity as the single buyer of electrical energy, will be the sole buyer of electrical capacity and energy generated under the Gas to Power Programme. Therefore, if a project developer anticipates providing a power generation solution that includes LNG or install capacity that exceeds 500MW, then it is anticipated that such a solution will provide mid-merit energy based on analysis of a number of least-cost dispatch scenarios for the South African power system for the years 2020, 2025 and 2030. The following annual average load factors may be expected:

Year

Installed Capacity

Load Factors

2020

3 000 MW or 1 000 MW

35% or 50%

2025

3 000 MW

35%

2030

3 000 MW

35%

Only small seasonal deviations from the annual average load factors (stated above) are expected. It is anticipated that monthly average load factors in the winter months will be slightly lower when compared to summer months. Intra-day flexibility is required, with lower load factors during night and higher load factors during the day and evening peak hours.

Where a project developer anticipates providing a power generation solution supplied from a gas source other than LNG or with an installed capacity of less than 500MW, then the developer is expected to state the anticipated power generation regime (i.e. whether this is baseload energy or mid-merit energy) and the preferred mode of operations (i.e. whether the plant is dispatchable or self-dispatched). This is actually how the RMIPPPP is drafted to ensure that Eskom gets into an agreement with the project developer that will avail a dispatchable plant from 06:00 to 21:00 as and when additional power is needed to supplement the grid.

In South Africa's presently constrained power supply environment, the Department of Mineral Resources and Energy (DMRE) is interested in investigating early gas power generation opportunities. Given the current climate, the DMRE encourages project developers to provide potential solutions to deliver gas fired power generation as expeditiously as possible. The generation of such early power may come from reducing the timeframes to build out and develop the gas to power value chain, or it may come from an interim early power generation facility as part of the development of the longer term gas to power value chain.

The Gas to Power Programme commences with a formal Request for Information (the "RFI"). The RFI is intended to solicit information from participants in the gas to power industry. The DMRE intends to use the information provided in response to this RFI in designing an appropriate procurement framework and finalizing any regulatory amendments that may be appropriate. Accordingly, the DMRE urges every project developer who anticipates submitting a bid in the Gas to Power Programme to provide a response to the RFI for each and every proposed project that it intends submitting in the Gas to Power Programme. All information submitted will assist in the planning of the location(s), infrastructure, the Distribution System and/or Transmission System and other relevant infrastructure necessary to support the Gas to Power Programme and associated GSAs. The DMRE, in its sole discretion, anticipates engaging with the project developers who submit responses to the RFI to discuss their projects with a view to seek any needed clarity.

Whilst the Integrated Resource Plan indicates a requirement for 1000 MW in 2023 and 2000 MW in 2027, at a 12% average load factor, this is premised on certain constraints imposed on gas, taking into account the locational issues like ports, environment, transmission, etc. This represents low gas utilization, which will unlikely justify the development of new gas infrastructure and power plants- especially at the predicated sub-optimal volumes of gas. Therefore, consideration must be given to the conversion of the diesel-powered peakers on the east coast of South Africa, as this is most likely the first location for gas importation infrastructure and the associated gas to power plants. It must be noted that the unconstrained gas is a 'no regret option' because the power system calls for increased gas volumes when there are no constraints imposed.

https://www.trade.gov/energy-resource-guide-south-africa-oil-and-gas

South African Petroleum Industry Association (SAPIA)

SAPIA is a trade organisation representing the main petroleum and liquefied petroleum gas companies in South Africa.

SAPIA plays a strategic role in addressing a range of common issues relating to the refining, distribution and marketing of petroleum and LPG products, as well as promoting the industry's environmental and socio-economic progress. SAPIA fulfills this role by proactively engaging with key stakeholders, providing research information, expert advice and communicating the industry's views to government, members of the public and media.

Our key priorities are as follows:

* Promote industry transformation and skills development.

* Facilitate the security of supply of petroleum products.

* Promote health, safety, security and environment within the industry.

* Provide input into the development of climate change policy and regulations including that pertaining to the monitoring, measuring and reporting of GHG emissions.

* Make the transition to cleaner fuels in a manner that avoids any supply disruptions in the most cost-effective way possible.

* Contribute to policy formulation, implementation and a fair regulatory framework for all.

https://www.sapia.org.za/

South African Oil and Gas Industry

South Africa is well positioned to take advantage of the project opportunities leveraged off its strategic geographic position, its well-established industrial base and growing track record of oil & gas suppliers and service providers.

Oil and Gas Potential in Sub-Saharan Africa

Africa, particularly southern Africa, will realise significant opportunities across the oil and gas value chain as this industry develops towards its full potential.

Africa's economies are some of the fastest growing economies in the world, and while oil and gas activity will initially focus on exploration, as the industry matures other areas of the value chain will develop and play a greater importance (logistics, refining, wholesale and retail consumption) as domestic markets for oil and gas products develop.

Established Upstream and Midstream Activity

Two catalysts spurred the development of South Africa's upstream supplier base. Firstly, the development of the South Coast offshore infrastructure starting in the late 1980s led to the establishment of significant South African capacity to fabricate and provide a variety of technical services to the industry. Many of the global service companies also established South African operations to service these developments.

Overview of Oil & Gas in the Sub-Saharan Africa Region

Sub-Saharan Africa is a vast region of approximately 27 000 square kilometers. Geographically, it is the area of the continent of Africa that lies south of the Sahara Desert. Politically, it consists of all African countries that are fully or partially located south of the Sahara (excluding Sudan).

Sub-Saharan Africa - The next 20 years

Over the next 20 years Sub-Saharan Africa will see significant changes in the upstream and midstream sectors of the oil and gas value chain. Included in this section is an examination of current Oil & Gas activity and an assessment of proposed future Oil & Gas activity over the next 20 years.

Oil & Gas Statistics

At present, South Africa does not have significant proven oil and gas reserves and produces oil and gas from coal and imported crude oil. The relative under-utilisation of gas is as a result of the abundant coal resources in the country that allowed South Africa to produce petroleum and by-products as well as electricity cheaply from coal.

Major Projects in Sub-Saharan Africa

South Africa Offshore: Exploration activity off the coast of South Africa is expected to ramp in the next 18 to 24 months with many upstream exploration companies commencing with approval processes for offshore exploration.

Source: South African Oil and Gas Alliance

https://www.saoga.org.za/web/oil-and-gas-overview

South African Oil and Gas Alliance (SAOGA)

The South African Oil & Gas Alliance (SAOGA) is dedicated to promoting the upstream and midstream sectors of the oil and gas value chain, primarily in South Africa and regionally in Southern Africa.

The organisation operates as a partnership between the public and private sectors, receiving public funding to carry out a range of industry development activities and working to promote the interests of members. It is overseen by an independent volunteer Board of Directors from industry and a number of other key stakeholders.

https://www.saoga.org.za/web/homepage

Leading Companies

AECI Group (JSE: AFE)

The parent company of the AECI Group is South African company, AECI Limited (JSE: AFE).

Aeci is a diversified group. It has regional and international businesses in Africa, Europe, South East Asia, North America, South America and Australia. products and services are provided to a broad spectrum of customers in the mining, water treatment, plant and animal health, food and beverage, infrastructure and general industrial sectors.

The Group's strategy is to be the supplier of choice in the markets in which it operates and to continue to grow domestically as well as through ongoing expansion of its footprint within the geographies and markets served. In line with this strategy, businesses are managed in four growth pillars: Mining, Water, Agri Health, and Chemicals. Included in this pillar is the Specialty Minerals South Africa joint venture.

These pillars are AECI's key reporting segments.

AECI also has a property division. Its main activities are the management of the Company's leasing portfolio and the provision of services at the Umbogintwini Industrial Complex in KwaZulu-Natal. Together with Head Office support functions, including the treasury, Acacia Real Estate constitutes the Group's sixth reporting segment, namely Property & Corporate.

All business activities are underpinned by the Group's BIGGER values - of being Bold, Innovative, Going Green and being Engaged and Responsible.

The Company was registered in South Africa in 1924 and was listed on the JSE in 1966.

https://www.aeciworld.com/profile

27 February 2024

ANNUAL FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

The Group consolidated financial statements and the Company financial statements were approved on 27 February 2024 and are for the year ended 31 December 2023. These comprise the Group Audit Committee's report to stakeholders, the Directors' report, the Declaration by the Group Company Secretary, the External Auditor's Report, the Basis of Reporting and Significant Accounting Policies, and the financial statements.

These financial statements have been audited as required by the Companies Act and their preparation was supervised by the Group Chief Financial Officer, Rochelle Gabriels CA(SA).

For full release see:

https://www.ftp.aeciworld-online.com/reports/ar-2023/pdf/AECI2023fullafs.pdf

African Oxygen Limited (JSE: AFX, NYSE: LIN, FRA: LIN)

The South African company, African Oxygen Limited (JSE: AFX) is a subsidiary of the United Kingdom company, Linde plc (NYSE: LIN, FRA: LIN) formed from the merger of the German company, Linde AG, the former parent of the Linde Group, and the United States company, Praxair Inc. in 2018.

https://www.linde.com/about-linde/corporate-heritage

https://www.praxair.com/the-new-linde

African Oxygen Limited (Afrox) is sub-Saharan Africa's market. At African Oxygen Limited (Afrox) we are accountable for our actions and strive to be transparent in all decisions and activities that may impact the environment and society in general.

Manufacturing of our gases and other products takes place on 41 different sites throughout southern Africa. This comprises 31 units and 16 on-sites (automated plants not requiring operators), with some manufacturing sites hosting more than one unit. The Bulk Scheduling Centre deals with more than 20 000 customer drops per month, while our transport fleet covers around 24 million kilometres per year. Afrox employs more than 3000 people and has a national network of distributors and branded Gas & Gear centres. Our National Customer Service Centre receives more than 70 000 calls, 8 000 faxes and 20 000 e-mails per month. Outbound calls, faxes and e-mails to our customers are in excess of 94 000 per month.

http://www.afrox.co.za/en/about_afrox/afrox_profile/index.html

2 May 2024

Linde Reports First Quarter 2024 Results

Woking, UK, May 2, 2024 - Linde plc (Nasdaq: LIN) today reported its first quarter 2024 financial results.

Linde's sales for the first quarter were $8,100 million, down 1% versus prior year. Compared to prior year, underlying sales increased 1% from 2% price attainment partially offset by 1% lower volumes largely driven by the manufacturing end market.

First-quarter operating profit was $2,095 million. Adjusted operating profit of $2,341 million was up 6% versus prior year led by higher price and continued productivity initiatives across all segments. Adjusted operating profit margin of 28.9% was 200 basis points above prior year and 130 basis points higher when excluding the effects of cost pass-through.

First-quarter operating cash flow of $1,954 million increased 2% versus prior year. After capital expenditures of $1,048 million, free cash flow was $906 million. During the quarter, the company returned $1,694 million to shareholders through dividends and stock repurchases, net of issuances.

Commenting on the financial results and business outlook, Chief Executive Officer Sanjiv Lamba said, "I'm proud of how the Linde team continues to deliver high-quality results despite economic headwinds. We had another strong quarter, growing EPS 10%, ROC to 25.6% and expanding operating margins 200 basis points, reaching 28.9%. These results demonstrate the resiliency of our integrated industrial gas model through optimizing our network density, all while developing high-quality growth opportunities."

Lamba continued, "Despite the uncertain economic environment, I remain confident in our ability to continue to create shareholder value through our proven operating model."

For the second quarter of 2024, Linde expects adjusted diluted earnings per share in the range of $3.70 to $3.80, up 4% to 6% versus prior-year quarter or 5% to 7% when excluding 1% of estimated currency headwind. For the full year 2024, the company expects adjusted diluted earnings per share to be in the range of $15.30 to $15.60, up 8% to 10% versus prior year or 9% to 11% when excluding 1% of estimated currency headwind.

Full-year capital expenditures are expected to be in the range of $4.0 billion to $4.5 billion to support growth and maintenance requirements including the $4.9 billion contractual sale of gas project backlog.

For full release see:

https://assets.linde.com/-/media/global/corporate/corporate/documents/press-releases/2024/linde-1q24-earnings-release-tables.pdf

Astron Energy (Pty) Limited (ATR: ASE)

Astron Energy is a leading supplier of petroleum products in Southern Africa, with a vast network of service stations (over 850 being converted in the next 4 years) that will make us the second-largest petroleum network in the region.

We are strongly committed to being a responsible corporate citizen, promoting education, health and economic development in an effort to build stronger communities and drive sustainable economic growth.

We own and operate the country's third-largest crude oil refinery in Cape Town, which has a daily nameplate crude processing capacity of 100,000 barrels and a lubricant manufacturing plant in Durban.

Part of South Africa's history for over 100 years

Although Astron Energy entered the South African market in 2018 (through a majority acquisition of the former Chevron South Africa Pty (Ltd) by Glencore South Africa Oil Investment (Pty) Ltd) the legacy company has been around for ages!

For more than a century, we have played a significant role in South Africa's economy and heritage, a journey that started when our first crude oil cargo was imported into South Africa in 1911 to help meet the country's fuel needs.

In 1936, motorists were first introduced to the Caltex brand and the Caltex star logo, the result of a joint venture between the former owners Standard Oil of California (later Chevron) and Texaco. 1955 saw the establishment of the Caltex Lubricant Manufacturing Plant in Durban. In 1966, we further strengthened our position as a key investor in South Africa with the construction of our refinery in Cape Town.

Since 2018, Astron Energy has been operating the Caltex brand under a license agreement with Chevron. Over the next few years, all Caltex branded service stations in South Africa and Botswana will be rebranded to Astron Energy in a phased manner. This makes Astron Energy the overarching brand across the corporate, commercial, and retail channels of the business.

https://www.astronenergy.co.za/about-us/

Glencore statement on Astron closing

Johannesburg, South Africa

8 April 2019

Glencore South Africa Oil Investments (Pty) Limited is pleased to announce the closing of its acquisition of 75% of Astron Energy in South Africa and 100% of Astron Botswana, the two businesses previously owned and operated by Chevron.

Glencore is looking forward to working with the Astron management team, led by CEO Jonathan Molapo, to drive growth in the businesses as well as increasing the BEE ownership and localisation of the business in South Africa.

https://www.glencore.com/south-africa/glencore-statement-on-astron-closing

BP Southern Africa (Pty) Limited (LSE: BP, FRA: BPE)

BP Southern Africa (Pty) Limited is part of the global BP Group, the parent of which is the British company, BP plc (LSE: BP, FRA: BPE).

Over the years, bp has become synonymous with service and product excellence, something its millions of customers worldwide can attest to. Being amongst the leading global petroleum companies, we provide:

fuel products for transportation,

energy, heat and light,

lubricants to keep engines and industries moving,

petrochemical products for use in day-to-day trivial products and

high-range products including paint, clothes, and packaging - to name but a few.

https://www.bp.com/en_za/south-africa/home.html

BP is one of the oil companies with a national footprint of over 500 service stations comprising of over 200 branded convenience stores, and we are rapidly expanding. Our strategically located service stations offer customers a wide variety of award-winning fuel products, convenience, loyalty programme and friendly service.

BP process crude oil at the SAPREF refinery and manufacture lubricants at an oil blending plant located in the city of Durban. In addition to a national network of BP-branded service stations, we operate nine depots and three coastal installations, as well as the largest rail gantry in Africa located in Pretoria with planned upgrades to key depots.

Safety is the foundation of everything we do at BP, every single day. The company's goals are clear: No accidents, No harm to people and No damage to the environment. That's a huge responsibility - one BP does not take for granted. We track our safety performance using industry metrics and work to continuously improve personal and process safety across BP.

BP Southern Africa infrastructure

BP has over 500 branded service stations across South Africa and a 50% share in the largest refinery in Southern Africa called Sapref, situated in Durban South Africa. BP has entered into key Terminal Joint Ventures in Mozambique and South Africa to ensure security of Supply to our growing Retail and Commercial network. We invest in our terminal infrastructure to provide world class Road and Rail gantries, fire -fighting capability, Tanks and Pipelines to meet the growing demand of our customers.

Award-winning fuels

The award-winning BP Ultimate with Active technology is our flagship fuel product. Its engine performance enhancing properties have earned it the prestigious South African Product of the Year 2017 accolade in the fuels category, hardly a year after being launched into the South African market. In 2019 the South African consumers declared BP Ultimate the winner of the fuel (petrol and diesel) category in the Ask Afrika Kasi Star Brands survey. The BP Ultimate fuels have lived up to their quality promise of keeping engines running clean and has become the fuel product of choice for many South Africans.

Award-winning lubricants

Our lubricant brand, Castrol is the world's leading manufacturer and distributor of premium lubricating oils and related services to automotive and industrial customers across Southern Africa. Our automotive lubricants, from conventional to advanced full synthetics, are developed to care for cars, motorcycles, trucks and vans. In 2016, Castrol's pioneering oil technology saw Castrol MAGNATEC 10W-40 win the South African Product of the Year award in the motor lubricant category, and in 2018 Castrol MAGNATEC won the South African Product of the Year award for most innovative motor lubricant in the fuels category. Castrol works with leading industry car manufacturers, supplying a broad range of lubricants designed for particular operating conditions and environments. Many of our Castrol products are recommended by, and co-engineered with major car manufacturers including Audi, Ford, MAN, Honda, Volvo, JLR, Tata and Volkswagen.

Refining business

SAPREF is the largest crude refinery in South Africa, with a capacity of 180 000 barrels per day. It was commissioned in 1967 as a joint venture between BP & Shell. SAPREF produces 10 main products, namely, petrol, diesel, fuel oil, jet fuel, lubricants, bitumen, LPG, solvents and paraffin. We continue investing in upgrading SAPREF to ensure that we meet consumer demands for low Sulphur fuel.

https://www.bp.com/en_za/south-africa/home/who-we-are/bp-in-south-africa.html

7 May 2024

First quarter 2024 results

Resilient financial and operational performance: Adjusted EBITDA $10.3 billion; underlying RC profit $2.7 billion; upstream* production grew +2.1% vs 1Q23; start up of new Azeri Central East (ACE) platform in Caspian Sea

Growing shareholder distributions: 1Q24 $1.75 billion share buyback announced as part of our $3.5 billion commitment for the first half of 2024; Dividend per ordinary share of 7.270 cents

Focus on delivering our six priorities: announcement to simplify organizational structure; target to deliver at least $2 billion of cash cost* savings by the end of 2026

Financial summary

$ million

First quarter 2024

Fourth quarter 2023

First quarter 2023

Profit for the period attributable to bp shareholders

2,263

371

8,218

Inventory holding (gains) losses*, net of tax

(657)

1,155

452

Replacement cost (RC) profit*

1,606

1,526

8,670

Net (favourable) adverse impact of adjusting items*, net of tax

1,117

1,465

(3,707)

Underlying RC profit*

2,723

2,991

4,963

Operating cash flow*

5,009

9,377

7,622

Capital expenditure*

(4,278)

(4,711)

(3,625)

Divestment and other proceeds(a)

413

300

800

Net issue (repurchase) of shares

(1,750)

(1,350)

(2,448)

Net debt*(b)

24,015

20,912

21,232

Adjusted EBITDA*

10,306

10,568

13,066

Announced dividend per ordinary share (cents per share)

7.270

6.610

Underlying RC profit per ordinary share* (cents)

16.24

17.77

27.74

Underlying RC profit per ADS* (dollars)

0.97

1.07

1.66

For full release see:

https://www.bp.com/en/global/corporate/news-and-insights/press-releases/first-quarter-2024-results.html

Engen Petroleum Limited

Engen is majority owned by Vivo Energy (74% holding). The Vivo Energy Group operates and markets its products in countries across North, West, East and Southern Africa, and has a network of over 3,900 service stations in 28 markets operating under the Engen and Shell brands, whilst also exporting lubricants to a number of other African countries. PHEMBANI, a black-controlled South African company focused on the broader energy sector, holds 21% in the South African business.

Engen Petroleum Limited is a wholly owned subsidiary of Engen Limited, with its head office in Cape Town, South Africa.

https://www.engen.co.za/about/ownership

25 April 2024

Vivo Energy Full Year Results 2023

For full relese see:

https://www.vivoenergy.com/sites/vivoenergy-corp/files/2024-05/2023-full-year-results-transcript.pdf

Omnia Group (JSE: OMN)

The Omnia Group is a leading, diversified group of companies that manufactures and supplies chemicals, specialist services and solutions to the agriculture, mining and chemical industries.

With a 70-year legacy, our innovative culture, intellectual capital, and industry relationships drive safer and more efficient solutions. Headquartered in Johannesburg, South Africa, Omnia operates in 26 countries with a distribution network spanning 40 countries. As a Level 2 B-BBEE contributor in South Africa, we are listed on the JSE (OMN.JO) and A2X Markets.

We operate in primary sectors and our solutions enable the creation of products that form the essential ingredients in almost every aspect of modern life and supports economic growth. We are focused on securing a healthy and adequate food supply for a growing population globally, liberating commodities responsibly, effecting a lower impact on the environment, and ensuring safer operations for our employees and customers.

We have world-class competitive operations, with a broad range of future development options, which promote the responsible use of chemicals, through advancing technologies and the execution of an Environmental, Social and Governance (ESG) led strategy.

People are at the heart of our business, and we actively leverage our culture of innovation, strong intellectual capital, and deep industry relationships to implement safer and more effective processes to manufacture solutions to meet our customers' evolving needs.

Our purpose which is 'innovating to enhance life, together creating a greener future' forms the cornerstone of our strategy. It speaks to our relentless pursuit to enhance lives through innovation, because we know that quality life translates to quality mind, opportunities, and the future of nations. We work together with our business partners and diverse stakeholders around the globe to unlock enduring value from the ammonium nitrate value chain for the benefit of the communities we serve, countries in which we operate and for our shareholders.

https://www.omnia.co.za/about-us/profile

Audited results for the year ended 31 March 2024

For full release see:

https://www.omnia.co.za/downloads/send/104-FY2024/471-long-form-FY2024

Petroleum Oil and Gas Corporation of South Africa (SOC) Limited

The Petroleum Oil and Gas Corporation of South Africa (SOC) Limited (PetroSA) is the national oil company of South Africa and is registered as a commercial entity under South African law.

The mission of the Petroleum, Oil and Gas Corporation of South Africa SOC Ltd (PetroSA) is to be the leading provider of hydrocarbons and related quality products by leveraging its proven technologies and harnessing its human capital for the benefit of its stakeholders.

The core strategic function of PetroSA is to make it possible for the government of South Africa to: improve the supply of fuel, oil and gas to the country; mitigate the impact of oil price variations and foreign currency fluctuations; drive transformation initiatives in the South African oil, gas, fuel and petrochemical value chain; champion, support and entrench the growth of Black Economic Empowerment (BEE) in the sector; manage the contingency crude oil reserves and the strategic petroleum assets of the government; access upstream petroleum assets for the benefit of the citizens of South Africa; and competitively operate PetroSA in a sustainable commercial manner.

https://nationalgovernment.co.za/units/view/147/petroleum-oil-and-gas-corporation-of-south-africa-petrosa

Sasol Group (

JSE: SOL)

Sasol is a global chemicals and energy company. We harness our knowledge and expertise to integrate sophisticated technologies and processes into world-scale operating facilities. We safely and sustainably source, produce and market a range of high-quality products in 22 countries, creating value for stakeholders. Our purpose "Innovating for a better world" compels us to deliver on triple bottom line outcomes of People, Planet and Profit, responsibly and always with the intent to be a force for good.

We have prioritised four Sustainable Development Goals to ensure our business is environmentally, socially and economically sustainable. We are a public company listed on the Johannesburg Stock Exchange in South Africa and the New York Stock Exchange in the United States. We strive to deliver sustainable and superior value to all our stakeholders.

OUR PRIORITISED SUSTAINABLE DEVELOPMENT GOALS (SDGs)

SDG 8: Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all

SDG 12: Ensure sustainable consumption and production patterns

SDG 13: Take urgent action to combat climate change and its impacts

SDG 17: Strengthen the means of implementation and revitalise the global partnership for sustainable development

https://www.sasol.com/who-we-are/about-us

CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS for the six months ended 31 December 2023

For full release see:

https://www.sasol.com/sites/default/files/2024-02/Additional%20Information%20for%20Analysts%20for%20the%20six%20months%20ended%2031%20December%202023.pdf

Shell Group (LSE: RDSA, XAMS: RDSA, NYSE: RDS.A)

The parent company of the global Shell Group is Royal Dutch Shell plc (LSE: RDSA, XAMS: RDSA, NYSE: RDS.A), incorporated in the United Kingdom and based in the Netherlands. South African companies in the Shell Group include Shell Downstream South Africa (Pty) Limited and Shell South Africa Energy (Pty) Limited.

https://www.shell.co.za/about-us/contact-us.html

https://www.shell.com/

Shell has been active in South Africa since 1902. Shell main business activities in South Africa include Retail and Commercial Fuels, Lubricants and Oils, Aviation, Marine, Manufacturing and Upstream Exploration. Our head offices in South Africa are based in Johannesburg.

Shell core values of honesty, integrity and respect for people form the basis of the Shell General Business Principles.

Shell came to South Africa in 1902. Shell South Africa's main focus at the time was on paraffin and kerosene, which brought both light and heat to communities across Southern Africa.

Throughout its long association with South Africa, Shell has played an important role in the country, not only as a premier oil company, but also as a committed corporate citizen and change agent.

https://www.shell.co.za/about-us/who-we-are.html

2 May 2024

Shell plc first quarter 2024 results announcement

On Thursday May 2nd 2024 at 07:00 BST (08:00 CEST and 02:00 EDT) Shell plc released its first quarter results and first quarter interim dividend announcement for 2024.

For full release see:

https://www.shell.com/news-and-insights/newsroom/news-and-media-releases/2024/first-quarter-2024-results-announcement.html

TotalEnergies SE (XPAR: FP, LSE: TTE, NYSE: TTE)

The Company's Ordinary and Extraordinary Meeting of Shareholders decided on May 28, 2021 to change the company's name to TotalEnergies SE.

https://www.totalenergies.com/media/news/press-releases/totalenergies-se-change-names-and-ticker-symbols-market-places

The parent company of the global Total Group is the Total S.A. (XPAR: FP, LSE: TTE, NYSE: TTE) incorporated in France. South African companies in the Total group include: Total South Africa (Pty) Limited.

https://www.total.com/worldwide-presence

https://www.total.com/group

Total is a major energy player, which produces and markets fuels, natural gas and low-carbon electricity. Our 100,000 employees are committed to better energy that is safer, more affordable, cleaner and accessible to as many people as possible. Active in more than 130 countries, our ambition is to become the responsible energy major.

TOTAL SOUTHERN AFRICA

Total South Africa was established in 1954 and is 50.1% owned by multi-national Paris-based Company, Total Group. Total South Africa is a significant role player within the Total Group. Through our global alignment, we strive to ensure that our company is able to benefit from shared access to internationally acclaimed best practice, technological expertise and top flight business innovations.

Our business

Total South Africa's business focus encompasses the manufacturing, sales and marketing of a range of petroleum products for the retail, commercial, agricultural and industrial markets. With a portfolio of 547 service stations located throughout South Africa, we are a key player in the country's petrochemical market, with products ranging from jet fuel, liquid petroleum gas to lubricants, grease and kerosene. The company enjoys a 36.6% share in the Natref Refinery and has wholly owned subsidiaries in Namibia, Botswana and Swaziland.

Our commitments

Total South Africa is committed to developing our great nation and was one of the first oil companies to introduce service stations in previously disadvantaged areas. Considered to be a pioneer within the local employment industry, Total South Africa is recognised for its substantial number of firsts when it comes to progressive transformation. Notably, it was the first multinational oil company in South Africa to appoint a female executive. During the sixties, it was also the first oil company to introduce its brand into what was then known as predominantly black townships, also taking the initiative to appoint black service station owners.

https://www.total.co.za/discover-total/about-us

26 April 2024

First Quarter 2024 Results

For full release see:

https://totalenergies.com/news/press-releases/first-quarter-2024-results

Transnet Pipelines

Transnet pipelines, formerly known as Petronet, the custodian of the country's strategic pipeline assets, is currently servicing two key industries (fuel and gas) by transporting petroleum and gas products over varying distances.

The business handles an annual average throughput of some 16 billion litres of liquid fuel and more than 450 million cubic metres of gases. The liquid products include crude oil as well as diesel, leaded and unleaded petrol and aviation turbine fuels.

The Pipeline Network

The liquid fuels network traverses the provinces of KwaZulu-Natal, Free State, Gauteng, North West and Mpumalanga. The intake stations are the two Durban refineries - the crude refinery at Coalbrook (Natref) and the Sasol 2 and Sasol 3 synfuel plants at Secunda. The network includes a tank farm, at Tarlton, with a capacity of 30 million litres which is used mainly for storage and the distribution of liquid fuels into Botswana.

The gas pipeline, a converted line previously used for liquids, runs from Secuda to Durban via Empangeni. It has take-off points at Newcastle and Richards Bay as well as along the route between Empangeni and Durban.

All Transnet pipelines' pipelines conform to ASME B31.4, an American code of practice, with their diameters designated in inches from six inches (nominally 150 mm) to 20 inches (nominally 508 mm). Pressure in the pipeline network is monitored on a 24 hour-a-day, 365 days-a-year basis at the control centre at Transnet pipelines' Durban head office.

https://www.transnet.net/Divisions/Pages/PipeLines.aspx

Transnet Releases Audited Annual Financial Statements For The Financial Year Ending 31 March 2023 With An Unmodified Audit Opinion

Performance overview

The Company experienced a difficult operating environment, particularly in the rail business, with decreased locomotive availability (a key unit of production) and high levels of cable theft and infrastructure vandalism, resulting in lower volumes railed. This was exacerbated by other factors: the reporting year started with extensive floods in KwaZulu-Natal, which had a hugely negative impact on operations on the Gauteng-Durban corridor; higher levels of loadshedding; and the employee wage strike in October 2022.

Despite these headwinds, Group revenue for the year increased by 0,6% to R68,9 billion (2022: R68,5 billion) in line with positive port and pipeline operational performance. Automotive and break-bulk volumes improved significantly (+21,0%) and petroleum volumes increased by 1,0% when compared to the prior year. Rail volumes however, decreased by 13,6%, adversely affected by the aforementioned operational challenges.

Net operating expenses rose by a tolerable level of 2,0% given inflationary pressures. This was a demonstration of financial resilience and commitment to various cost containment initiatives. That said, the entity recorded a decrease in EBITDA of 2,1% to R23,0 billion for the year. Considering other non-cash cost elements, (i.e depreciation, derecognition and amortisation, impairment, fair value adjustments) and the impact of net finance costs, the net loss for the year is R5,7 billion.

For full release see:

https://www.transnet.net/InvestorRelations/AR2023/SENS%20-%20TRANSNET%20FINANCIAL%20RESULTS%20FOR%20THE%20YEAR%20ENDED%2031%20MARCH%202023.pdf

ACQ_REF: IS/44692/20240801/ZAF/62/16

ACQ_AUTHOR: Associate/Danny Cliffson Crispin Benos

COPYRIGHT 2024 Acquisdata, Inc.
No portion of this article can be reproduced without the express written permission from the copyright holder.

LATEST COMPANY NEWS. - Free Online Library (2024)

FAQs

What is the largest free online library? ›

Internet Archive: The largest digital library for downloading e-books and audio-books for free. 8. Open Library: More than one million e-books of classic literature to download.

Discover More ›

What is AP in news? ›

The Associated Press (AP) is an American not-for-profit news agency headquartered in New York City.

Learn More ›

Does everyone have access to a library? ›

Through a common mission, publicly supported libraries provide free, equal , and equitable access to information for all people of the community that the library serves.

What is the equity of access in public libraries? ›

Equity of access is about all members of a community having the right to use the information and books that they need regardless of their ability to afford them or without undue influence or prejudice from others who may wish them not to have access.

Discover More Details ›

Is there a free ebook library? ›

Project Gutenberg is a library of over 70,000 free eBooks

Choose among free epub and Kindle eBooks, download them or read them online. You will find the world's great literature here, with focus on older works for which U.S. copyright has expired.

What company owns AP News? ›

The AP is a non-profit cooperative owned by the major United States daily newspapers, radio and television stations who share its news stories. Most articles are written by staff members belonging to the Newspaper Guild Union, a part of the AFL-CIO.

Know More ›

What is the oldest news agency in the world? ›

The French Agence France-Press (AFP) is the oldest news agency in the world. It was started 1835 in Paris as Agence Havas and one of its early employees was a certain Paul Reuter. Today it is one of the three largest English-language news agencies, together with AP and Reuters.

Read The Full Story ›

What is the largest news agency in the world? ›

Despite the plethora of news services, most news printed and broadcast throughout the world each day comes from only a few major agencies, the three largest of which are the Associated Press in the United States, Reuters in Great Britain, and Agence France-Presse in France.

Discover More ›

Are public libraries free in the US? ›

Most libraries in the US are funded through local government or special taxing districts. This means that library services are usually free to patrons living in the county/district. Some library systems offer library cards for an annual fee to those living outside the county/district.

Do people still need library? ›

“The data consistently shows that people continue to use public libraries. They just use us in different ways through each successive generation, and libraries are evolving to meet those needs,” Alcantara-Antoine said.

Tell Me More ›

Can anyone access Harvard Library? ›

If you would like to research using Harvard Library and you do not have a Harvard University affiliation or belong to another organization with an existing library access agreement, you can apply for either a Library Access Card or a Library Borrowing Card.

Learn More ›

What is the main access point in library? ›

An access point is defined as "a unit of information in a bibliographic record under which a person may search for and identify items listed in the library catalog or bibliographic database" (Online Dictionary for Library and Information Science).

What is digital library access? ›

Digital libraries can be accessed from any computer or device with an internet connection, meaning that there is no need to physically visit the library or store materials to access them. Digital libraries are often used by public libraries, university libraries and private companies.

Learn More Now ›

What is a library which is accessible by the public called? ›

Public Library is a library that is accessible by the public and is generally founded from public sources. (such as tax money) and operated by civil servants. There are five fundamental characteristics shared by public libraries.

What is the largest public digital library? ›

For the second year in a row, Los Angeles Public Library topped the global list achieving a new record of serving readers with more than 12 million digital titles circulated. MELSA: Twin Cities Metro eLibrary in Minnesota remains the highest circulating consortium.

What is the largest free ebook download site? ›

16 Must-Visit Sites to Download Free Books

Z-Library. Z-Library boasts of being the world's largest ebook library, with over 6 million books and 77 million articles. ...
Project Gutenberg. ...
Open Library. ...
Google Books. ...
Internet Archive. ...
Scribd. ...
Library Genesis. ...
ManyBooks.

More items...

Show Me More ›

What is the world's largest ebook library? ›

Search Books On Z-Library. The World's Largest E-book Library.