Cabinet approves making single national petroleum company
Merging three state-owned oil and gas subsidiaries into a single company will ‘support growth and development’
Sasol shares gained as much as 14% on Wednesday as the price of Brent Crude oil rose above $40 a barrel for the first time in nearly three months, before pairing gains to trade up 1.5% in the early aftrenoon.
Motorists in the interior of South Africa may experience ongoing fuel shortages this week due to damage to a Transnet pipeline carrying fuel from Durban to Gauteng.
South Africa’s diesel shortage to last several weeks
A shortage of diesel fuel in South Africa will ease up in a few weeks when about 30% of its refining capacity, idled because of a drop in demand spurred by the Covid-19 lockdown, will return to service.