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South Africa’s dependence on fuel imports to multiply

Bloomberg South Africa’s monthly petroleum product imports are expected to as much as triple by next year from pre-pandemic levels as domestic refineries close, according to energy consultant Citac. Africa’s biggest industrialised nation already relies on imports to meet up to 60% of its fuel demand, and any increase in shipments will require improvements to existing storage facilities, ports and ...

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PetroChina says it’s not seeking discounted Russian oil and gas

  Bloomberg PetroChina Co isn’t seeking any discounted Russian oil and gas and is only purchasing fuel from the country through its existing contracts, company executives said. Deals with Russian counter-parties are operating normally, Chief Financial Officer Chai Shouping said on the company’s first-quarter earnings call. Transactions have continued to be settled in US dollars or euros despite international sanctions ...

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India asks its coal plants to run flat out to address rising energy crisis

  Bloomberg India’s government ordered coal-fired power plants that run on imported fuel to operate at full capacity to address an escalating energy crisis that’s threatening economic growth. The government took the unusual step of invoking a little-used provision in electricity laws to bridge a supply deficit that’s causing widespread blackouts. The order is valid until October 31, the power ...

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