Business

Fri,29Aug2014

Business

East Africa move to cleaner fuels to soak up new low-sulphur supplies

Photo@ReuterspetrolstationPlans for five countries in East Africa to adopt cleaner fuel standards in 2015 are likely to help absorb excess low-sulphur oil products coming out of Middle East and Indian refineries, where new capacity is being added, industry sources said.

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Westinghouse challenges South Africa nuclear contract awarded to Areva

Photo@ReuterspowerWestinghouse Electric Company said it had filed an interdict in a South African court to reopen the bidding process for a contract awarded to French rival Areva to replace six steam generators at a nuclear power plant.

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Algeria to launch $262 bln five-year investment plan

Photos@ReutersbouteflikaAlgeria will launch a new five-year investment plan worth $262 billion to boost domestic production and move its economy away from reliance on oil and gas, the government said.

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High gas-flow tests boost BG's Tanzania LNG plans

Photo@ReutersgasTanzaniaBritish gas company BG Group has produced higher-than-expected flows of gas from a test well off the coast of Tanzania, boosting the financial viability of its planned liquefied natural gas (LNG) export terminal in the east African country.

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Lonmin aims to cut up to 5,700 South Africa jobs: sources

Photo@ReutersLonminstrikersPlatinum producer Lonmin aims to cut around 5,700 jobs, about 21 percent of its South African workforce, as part of a drive to restore profits after a five-month wage strike this year, sources familiar with the plan said.

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Second tanker waits to load oil at reopened Libyan port

Photo@libyaoilA second tanker started loading oil at Libya's Es Sider port, state-run National Oil Corp (NOC) said today, as the country's biggest crude export terminal swung back into action after being closed for a year.

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Mozambique sees $30 bln investment for 2018 LNG exports startup

Photo@gasflaringMore than $30 billion will be invested initially in Mozambique's natural gas sector to build capacity to produce 20 million tonnes per year of liquefied natural gas (LNG), with the first exports due to start in 2018, the national oil company said.

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