insert_link Business / Economics NAMCOR Completes Drilling of Sagittarius-1X Well The National Petroleum Corporation and its partners have completed drilling the Sagittarius-1X exploration well in Block 2914 of the Orange Basin. NAMCOR’s Manager of Marketing, Communications, and Public Relations, Paulo Coelho: indicates that drilling began on 18 December 2024 using the Noble Venturer drillship and reached total depth on 6 February 2025. today19 February, 2025
insert_link South Africa Eskom Reports Stable Power System with Load-Shedding Suspended In S.A, Eskom says the power system continues to be stable with load-shedding remaining suspended. Eskom spokesperson, Daphne Mokwena says the system also has sufficient emergency reserves. She says from 1 April last year to 14 February, load-shedding was suspended for 317 days, compared to 32 days in the same period last year. She adds that electricity supply was available 99-percent of the time, compared to just 10-percent last […] today15 February, 2025
insert_link Business / Economics Oil giant Chevron slashing up to 20% of its global workforce Mass layoffs coming to Chevron. The oil major says it's slashing up to 20% of its global workforce as part of a cost-cutting effort. It's the last oil and gas company to cut headcount among lower prices. Toni Waterman has more. today13 February, 2025
insert_link South Africa In S.A, Tshwane DA Blames ANC for R300m Power Loss In S.A, the DA in Tshwane says the ANC government in the metro has allowed electricity losses to increase by 300-million-rand in just three months. The party’s, Jacqui Uys, says this is in stark contrast with what the government inherited from the DA, where electricity losses were reduced by 162-million-rand between July and September. She says not only is the metro not billing residents for electricity used, but the ANC […] today11 February, 2025
insert_link Business / Economics TotalEnergies revises Venus oilfield production target TotalEnergies has delayed its final investment decision on its offshore oil project in Namibia, with a new target set for 2026, according to CEO Patrick Pouyanne. The company has also adjusted its production forecast for the Venus oilfield, now aiming for 150,000 barrels per day, down from the previous expectation of 160,000 barrels per day, following updated projections shared at its investor day in October. According to Reuters, […] today7 February, 2025
insert_link Business / Economics Shell’s challenges may reflect wider issues for oil drilling companies Shell used the Deepsea Bollsta rig, formerly known as West Bollsta for its drilling campaign in Namibia's Orange Basin; Source: Odfjell Drilling Energy lawyer Shakwa Nyambe has cautioned that the challenges Shell is facing in the Orange and Walvis Basins may soon affect other oil drilling companies operating in these regions. His remarks follow the UK-headquartered energy giant's recent write-down of US$400 million in the Orange Basin. Speaking to […] today13 January, 2025
insert_link South Africa S.A’s Electricity and Energy minister says Eskom has upped its performance S.A's Electricity and Energy minister Kgosientsho Ramokgopa says Eskom has upped its performance, resulting in more than 260 days of no load-shedding, improved plant performance, and billions of Rands in diesel cost savings. The power utility has recorded a net loss before tax of some 25.5-billion-rand, an improvement from the previous financial year’s 34.6-billion-rand. Ramokgopa says Eskom is now less reliant on diesel but the debt municipalities owe it […] today20 December, 2024
insert_link South Africa S.A’s Cabinet Lauds Energy Action Plan for Sustained Power Supply The South African Cabinet has commended the successful implementation of the national energy action plan, led by Electricity and Energy minister, Kgosientsho Ramokgopa. The plan has contributed to 252 continuous days of power supply, and a saving of 17.37-billion-rand. In her media address, minister in the Presidency Khumbudzo Ntshavheni said cabinet was also updated on Eskom’s progress with the successful rollover of 5.5-million prepaid meters: today6 December, 2024
