Energy Sector

Lack of Maintenance Causes Power Shortage

Lack of Maintenance Causes Power Shortage

Eskom Holdings Ltd. is a power company which supplies approximately 95% of South Africa’s power. It forecasted that there is an increased risk of low power development this quarter as the maintenance work of the power system were not done properly.

Eskom has reported back that it would start working to increase 7% of the generation capacity in the present fiscal year. This report was claimed by CEO Brian Dames in a press conference in Johannesburg today.

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Current Oil Prices Harming Global Economic Growth

Current Oil Prices Harming Global Economic Growth

The Brent Crude LCOc1 has been dropped on Thursday by 35 cents to $121.95 per barrel by 1009 GMT. Similarly, the US crude shed to $108.83 per barrel after reaching to $109.15 on Wednesday, which was the highest level since September 2008.

The oil prices have slipped because of the revolution in Libya. Muammar Gaddafi spoiled the pipeline which connects to the port town of Marsa el Hariga. The oil prices cannot be balanced until and unless the settlement in Libya.

The oil market is focusing on the European Central Bank meeting, which will held on Friday.

Shell’s Fracking Looked Down Upon by Environmentalists

Shell’s Fracking Looked Down Upon by Environmentalists

The opposition to Shell’s proposed fracking solution for gas in Karoo is gaining strength, especially after the Karoo Action Group (KAG) gave a report on Tuesday to a government representative in Cape Town. In the report, KAG asks for a call to halt the fracking process because it uses water and chemicals that create fractures in rocks in order to extract natural gas and oil. Environmentalist Lewis Pugh told News 24, “The right to health environment water is enshrined in our Constitution.

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Pipeline Tariff will slaughter jobs - BP

Pipeline Tariff will slaughter jobs - BP

According to BP the proposed 60% increase in fuel pipeline tariff will have adverse effect in the economy and will lead to tens of thousands of job loss. Business Day reported on Thursday that Transnet has been granted the tariff increase by Nersa in a bid to help pay for new pipelines. The new pipeline will be erected to replace the current old pipeline used in refinery between Durban and Gauteng and help in significant increase in fuel pumped from the coast to Gauteng.

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Rising jobs keeps biofuel on radar

biofuel

Even though there has been a rise in the food prices and a growing tussle between food versus fuel debate, biofuel has strangely made it back on the agenda of South Africa. But the same has been caused by the emergence of economic policy framework and also a push to create more rural jobs.

There is a clear mention of renewable-energy in the country’s New Growth Path (NGP). And the same is said to be used for the creation of jobs in the rural sector of the country. Same were the views of the KPMG global infrastructure and projects group associate director Dr Phindile Masangane.

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Nersa's plan to remove tariffs shows alternative energy costs are down

National Energy Regulator of SA

A decrease in the energy-feeds tariffs has been proposed by the National Energy Regulator of SA or NERSA. Looking at this, one can say that there has been a decrease in the cost of alternate energy. The same views were expressed by the Cape Chamber of Commerce.

The chamber said that there has been widespread condemnation to the proposal. This is so because lowering of tariff will impact the investment in the sector.

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South Africa Is the Largest Exporter of Coal to India

South Africa Is the Largest Exporter of Coal to India

According to the statement of India’s High Commissioner, Virendra Gupta, the foreign direct investment between South Africa and India have been increased in recent years.

Gupta revealed that India and South Africa will achieve the join trade target of $15-billion within next three years. He said that join trade target have been surpassed by two rising companies last year.

He further added that the 2010 trade target had been set during the global recession, and it has reduced the trade volumes between the two countries.

Cabinet has approved resource plan for electricity 2010

Independent System and Market Operator

An adjusted integrated resource plan for electricity 2010 (IRP2010) for transmission by the, energy department has been approved by the cabinet. It was announced on Thursday by Minister in the Presidency Collins Chabane that the cabinet would form the basis of South Africa's power generation plan for the next 20 years.

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Petrol pump dries up due to transport strike

Petrol pump dries

The workers strike demanding a pay rise had hit Soweto the hardest. Shell stations were seen reporting a shortage of 100% in the petrol reserves. Their garages across the township didn’t have any petrol. The same thing happened in other township. The company its response said that they weren’t able to send their drivers to areas that were deemed to be dangerous during the span of the strike.

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Oil spill pay outs should be less generous, BP

Gulf of Mexico

The BP made an argument saying that the pay outs made by the compensation fund to the people, who lost their money as a result of the oil spill in the Gulf of Mexico, should be done less generously. They also said that the region has been making the recovery much faster than what was assumed by the fund. There were several comments that got posted on the website of the twenty billion dollar fund which was being paid for and by BP.

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