Experts say that green jobs cannot solve South African unemployment.
According to the most recent government statistics, nearly one in three South Africans is unemployed. Experts say that the true level of unemployment is likely to be around 10% higher. They say that youth unemployment is about 60%. As part of the Just Energy Transition Investment plan, South Africa has phased out only one coal-fired plant, Komati, in Mpumalanga Province.
Glencore South Africa's smelter cancels job cuts planned after electricity deal
Glencore's South African ferrochrome smelting division announced on Monday that it had cancelled plans to lay off up to 1,500 employees after the country's energy regulatory agency 'approved discounted electricity costs for the sector. South African smelters face rising electricity costs due to the growing competition of Chinese producers.
US LNG exports to Asia increased in April due to Middle East conflict that curtailed supplies
The U.S. exported liquefied gas to Asia in April. American producers helped?offset the reduced supply from Middle Eastern 'exporters' as the Iran War curtailed production in the region. Nearly one-quarter of U.S. exports of LNG went to Asia in the last month. This is a significant increase from the time the conflict started late February.
Documents show that documents reveal the former Glencore trader is part of Ambatovy Nickel's takeover.
Documents reviewed by us show that a former Glencore nickel trader is a key figure in the consortium that will take over the Ambatovy Nickel project in Madagascar from Sumitomo Corporation. Jason Kluk left the Swiss-based mining company in late 2024. He is listed in Jersey and UK documents as being a director at Essenwood Partners.
South Africa film sets ditch diesel in green energy shift
Netflix filmed the second season of "One Piece" at Cape Town. It was its largest production in Africa and first time using a solar-powered camp to provide off-grid power during a shoot. "We've demonstrated here that productions do not have to rely solely on diesel in order to be reliable at scale. "There…
Amsterdam-Rotterdam-Antwerp Oil Product Stocks Drop to 12-Year Low
Total oil product stocks held independently in the Amsterdam-Rotterdam-Antwerp refining and storage hub were down 4% on the week to their lowest since 2014, as the war in the Middle East disrupts imports, data from Dutch consultancy Insights Global showed on Thursday.Total stocks stood at 4.72 million metric tons…
South Africa signs new climate loan and critical minerals agreement on Germany's visit
South Africa's Foreign Minister said that Germany had agreed to give South Africa an additional 200 million euro concessional climate loan. The two countries would also deepen their cooperation in other fields, such as critical minerals. After a meeting with his German counterpart Johann Wadephul, Ronald…
Thailand orders bureaucrats in its energy-saving drive to use stairs instead of elevators and to work from home
A government spokesperson said that the Thai Prime Minister Anutin Charnvirakul had ordered civil servants to conserve energy due to the energy crisis caused by the Middle East conflict. This included suspending overseas trips and using the stairs instead of elevators. Lalida Periswiwatana, a spokesperson for the prime minister…
Russell: Quality is important as coal prices rise amid LNG spikes on Iran War
The rise in spot prices of liquefied gas (LNG), but only in higher-quality grades, has led to a price increase for seaborne thermal coal. Last week, the spot price of LNG in Asia nearly doubled as the market digested a loss of almost 20% of global supply of super-chilled fuel after U.S. and Israeli attacks on Iran effectively closed the Strait of Hormuz.
Sources claim that India wants to reduce coal imports for the power sector by 30% in this year.
India, which is the second largest thermal coal importer in the world, wants to reduce its imports by at least 30 percent. It has asked the industry to experiment with blending more domestic 'coal' with imported coal. India's power stations will import nearly 50 million tonnes of coal from countries such as Indonesia, South Africa and Russia by 2025.
US takes on Chinese dominance in the race for African minerals
Diplomats, executives and analysts have said that the U.S. uses offtake agreements and state-backed financing to compete with China?in a short time frame? in order to secure supplies of African cobalt, copper and other essential minerals. Washington is focusing on Zambia, Guinea and the Democratic Republic of Congo.
TotalEnergies and Petrobras purchase land north of Namibia's massive Mopane discovery
Both TotalEnergies, the French oil giant, and Petrobras, the Brazilian firm acquired a 42.5% share in an offshore exploration license. The firms are looking to "develop" oil in one of last frontiers in exploration. Total has expanded its holdings in South Africa, where the company hopes to become the first oil producer by the end decade.
Merz, Germany's Merz, promises arms cooperation while he seeks to increase Qatari energy
German Chancellor Friedrich Merz promised to take a more-restrictive approach to arms exports to Gulf States during a visit to 'Qatar' on Thursday. The trip came as Europe’s largest economy seeks to deepen economic ties and to diversify its sources of energy. Merz has launched a campaign aimed at promoting Germany as an attractive country for doing business, as the U.S.
Oil majors buy up West African oil blocks to prepare for the next Brazil
Chevron, TotalEnergies and other oil majors are snatching up offshore blocks off the coast of West and Southern Africa. Geology, regulatory reforms and the need to replenish the reserves have prompted the search for the next Brazil. Companies are restocking oil and gas assets as fossil fuel demand is expected to remain higher than forecasted just a few short years ago.
S.Africa energy regulator approves power cost relief for ferrochrome makers
South Africa's Energy Regulator approved Eskom's application on Thursday to reduce electricity rates?by 35 percent for two distressed ferrochrome plants that are battling high power costs. In recent years, more than a dozen smelters in South Africa have closed, resulting in thousands of job losses. This…
Standard Bank provides $250 million in financing for Nigerian energy company Aradel
Standard Bank in South Africa has closed a $250m strategic financing facility for Aradel Energy Ltd. The Nigerian oil company will use the money to finance its acquisition strategy. Aradel Energy is one of Nigeria's biggest indigenous oil companies. It's a major shareholder in the consortium that will buy Shell's assets onshore in West Africa for $2.5 billion in 2024.
Floods in Mozambique force thousands of people to flee, President cancels Davos trip
Witnesses and officials reported that severe floods in Mozambique caused by heavy rainfall forced thousands to leave their homes. Some were left stranded atop roofs while surging waters swamped settlements. Daniel Chapo, the president of Venezuela, cancelled his trip to Davos to attend a World Economic Forum…
Mozambique president cancels Davos trip due to severe floods
Mozambique President Daniel Chapo cancelled his trip to Davos for the World Economic Forum this week because of severe flooding that has?damaged the infrastructure and affected hundreds of thousands in the Southern African nation. Chapo said in a Facebook post late Sunday night that Mozambique is "going through a difficult?time" and the priority right now is to save lives.
South Africa relaxes antitrust rules for companies facing high electricity costs
South Africa has loosened its antitrust regulations to allow firms battling high energy costs to build energy infrastructure together and negotiate contracts collectively. In a government announcement seen by on Tuesday, South Africa's Trade Minister Parks Tau stated that the new measure was meant to help?distressed industry.
JETP estimates Indonesia requires $92 billion for decarbonising the captive power sector by 2050
In a recent report, the Just Energy?Transition Partnership stated that Indonesia will need to invest an estimated $31 Billion by 2030 and a total $92 Billion by 2050 in order to switch?to a greener energy sector in its captive power sector. In recent years, the captive power sector in Southeast Asia, which includes?electricity production?developed by industry for its own use…
