Energy Sector

Price of Petrol Expected to Fall

Price of Petrol

There is good news on the way for cash-strapped drivers. The retail price of all grades of petrol is expected to fall by about 2 cents per litre by Wednesday, according to the Department of Energy.

Crude Prices Jumped on Friday

Crude Prices Jumped on Friday

The crude prices have jumped on Friday, slashing some of the losses and the crude prices were supported by the dollar’s weakness against the Euro. The Nymex light sweet crude jumped to $100 per barrel.

The value of the oil increases with the shrink in the dollar’s value because otherwise investors holding other currencies can purchase the oil easily.

Tony Machacek, crude futures broker at Bache Commodities said that the Euro is slightly up than dollar.

Race Ongoing to Beat High Petrol Prices

Race Ongoing to Beat High Petrol Prices

Fuel prices have undoubtedly reached its rocketing high prices, which has aroused an urgent need for government to look in to the matter and get some solutions for same. In context to same, the government has started planning to urgently investigate about possible speed limit cuts on the country’s roads.

According to the government, this move along with countering rocketing fuel prices will also reduce road accidents, mortality rate from same and will moreover preserve road infrastructure for longer.

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Rising Oil Prices May Suppress the Sale of Entry-Level Cars, Says Wesbank

Rising Oil Prices May Suppress the Sale of Entry-Level Cars, Says Wesbank

Recent spike in the global oil prices has brought the future sales of cars under clouds. As per reports, the political turmoil in Arab nations compounded by crisis in South Africa has forced the value of oil to hit the ceiling. Following which, market analysts have expressed high probability of entry level motorists in Gauteng to shell out more in driving cars in comparison to other services and maintenance charges.

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Stake Crisis in Argentina’s Peterson Group

Stake Crisis in Argentina’s Peterson Group

There has been an announcement by the Peterson Group of Argentina that they shall not increase the stakes they hold in the Spanish oil Group Respol’s. The chairman gave out this piece of information. The stakes of the firm were raised in YPF. The position attained after the rise was 25.4%.

Higher Gains by Aquarius in Nine Months in London on Northam Assets Acquisition

Higher Gains by Aquarius in Nine Months in London on Northam Assets Acquisition

Aquarius Platinum Ltd. is known as the fourth- largest producer of the metal. The company has shown a big growth in more than nine months in London while trading on plans to boost resources with a 1.2 billion-rand ($181 million) purchase from Northam Platinum Ltd.

Since July 20, Aquarius has risen to its most and the growth figures of the company have now reached to 8.4%.

TEPCO Sales Have Dropped By 17.6%

The power output of 136 megawatt coal thermal plant was affected after the devastating quake and tsunami on March 11. A spokesman of the company revealed that the Nippon Steel Corp will restart the thermal power in July to help plug Tohoku electric gap.

Almost 5% of the gap between Tohoku Electric Power Co. will be filled by the additional supply. The Tohoku Electric Power Co. is planning to generate 12, 100 MW of supply in summers. Contrary, the government has asked Tohoku to generate 14,800 MW in the summers.

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Gulf of Mexico Recovers After the Tragedy of Last Year

Gulf of Mexico

A year has passed since the huge Deepwater Horizon Disaster that had taken place in the Gulf of Mexico. It was also known as the major Oil spill that had devastated the entire vicinity and had left it in ruins.

There has been quick and effective redevelopment in the area and even the last of the closed fishing areas after the disaster have now been opened.

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South Africa to Face Shortage of Power Supply for Next Five Years

South Africa to Face Shortage of Power Supply for Next Five Years

Eskom has revealed that South Africa is likely to face a shortage of power supply for the next five years. Eskom supplies the majority of electricity to the country and is now under pressure to meet the demand of the country.

The power supply is expected to remain tight until 2015. Eskom is planning to construct some new plants and until these plants come into function the problem of power supply will not be solved.

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The Oil Market Reaches 30 Month High

The Oil Market Reaches 30 Month High

The Oil has got its third gain in the world market as Libya is still a concern.

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