JSE-listed engineering group Murray & Roberts (M&R) expects a significant improvement in total earnings per share (EPS) and headline earnings per share (HEPS) for the six months ended December 31. Basic EPS for the period are expected to increase by between 57% and 75% year-on-year to between 44c and 49c, while basic HEPS are expected to increase by between 54% and 71% year-on-year to 43c and 48c.
Murray & Roberts (M&R) subsidiary Clough will acquire Houston-based engineering, procurement and construction (EPC) contractor Saulsbury’s Gulf Coast downstream and chemical business unit, as well as its EPC portfolio, for $5.2-million. In the statement issued on Tuesday, M&R CE Henry Laas commented that the acquisition of a US-based EPC contractor in the oil and gas sector would enable its oil and gas platform to deliver projects to a rapidly growing market.
It is vital that Africa has a clear and cohesive vision in place for how it plans to use its gas reserves, says New Partnership for Africa's Development Business Foundation senior project manager John Rocha. Speaking at the Africa Gas Forum, on Monday, he pointed out that African countries have proven natural gas reserves of around 503-trillion cubic feet, while African gas consumption is set to rise by 3.1% a year, or a combined 150-billion cubic metres, up to 2022.
The Africa Energy Indaba Conference is the definitive energy conference for Africa providing an annual programme that shapes energy policy for the African continent. Key issues that impact the African energy sector will be discussed and debated at the event, based on the outcomes of the 2018 Africa Energy Ministerial Roundtable. The conference will provide an opportunity to debate policy, review industrial progress and market trends, discuss the efficiency of various public support mechanisms and public-private partnerships across the continent and review new data and the latest technological trends globally. Delegates in the early stages of their careers will have an opportunity to develop their knowledge and understanding of the energy sector and to lay the foundations for their role as “future energy leaders”.
Global demand for renewable power will soar at an unprecedented pace over the coming decades, BP said in a benchmark report on Thursday, while China’s energy growth is seen sharply decelerating as its economic expansion slows. Still, China is set to remain the largest energy consumer by a long stretch into 2040 although India should overtake it in terms of demand growth beginning in the next decade, the British oil and gas giant said in its 2019 Energy Outlook.
The eleventh edition of the Africa Energy Indaba – which will take place at the Sandton Convention Centre, in Johannesburg, from February 19 to 20 this year – will focus on the future prospects and direction of energy on the African continent from an energy provision and investment point of view. “Africa is the next investment frontier for energy. Energy access is now part of the political debate on the continent and there is an increase in political will to provide energy for African countries,” says Africa Energy Indaba MD Liz Hart.
Continental industry association the African Energy Chamber welcomes the improvement of Equatorial Guinea’s business environment through the establishment of an all inclusive model for setting up businesses in the country. “The implementation of Equatorial Guinea’s one-stop shop allows companies to set up a business in the country in only one week, putting the country at par with global standards,” says African Energy Chamber executive chairperson NJ Ayuk, who adds that, “for the African Energy Chamber and the oil industry, it is important to encourage men and women who find opportunities, have ideas of innovative services and unavailable products, those who have the courage to deploy capital, accept risk, and make it happen”.
The recent trend towards the development of renewable energy, including those based on smart grids and microgrids in Africa, has encouraged the establishment of a new renewable energy equity fund. With the Africa Energy Indaba set to take place from February 19 to 20 at the Sandton Convention Center in Johannesburg, long time attendee, international specialist banking and asset management group Investec Bank Limited states that it has noted a significant uptake in localised renewable power generation projects throughout the continent.
Norwegian oil company Aker said on Thursday that its exploration start-up in Ghana will submit development plans to Ghanaian authorities in March and the parent will then decide whether to sell stakes via an initial public offering or other means. The subsidiary, Aker Energy, plans to develop the deepwater Pecan field off Ghana.
South Sudan will return to producing more than 350 000 bbl/d of crude by the middle of 2020, up from current levels of just over 140 000 bbl/d currently, the country's oil minister said on Sunday. Production is expected to rise to 270 000 bbl/d by the end of 2019, Oil Minister Ezekiel Lul Gatkuoth told Reuters. He was speaking on the sidelines of the Petrotech conference in Greater Noida, a satellite city of India's capital New Delhi.