• 5 minutes Is Pete Buttigieg emerging as the most likely challenger to Trump?
  • 7 minutes Can LNG Kill Oil?
  • 8 minutes Question: Why are oil futures so low through 2020?
  • 11 minutes US Shale: Technology
  • 7 mins “The era of cheap & abundant energy is long gone. Money supply & debt have grown faster than real economy. Debt saturation is now a real risk, requiring a global scale reset.”"We are now in new era of expensive unconventional energy
  • 2 hours CoV-19: China, WHO, myth vs fact
  • 6 hours Blowout videos
  • 1 day Question - What if there are no buyers for Chevron's Appalachia Assets?
  • 1 hour Democrats Plan "B" Bloomberg Implodes. Plan "C" = John Kerry ?
  • 2 hours Don't sneeze. Coronavirus is a threat to oil markets and global economies
  • 2 days OIL trades as if the virus is a 1 quarter event. As if it's Containable, Reversible and Temporary. Is it ?
  • 21 hours Natural Gas
  • 2 days Energy from thin air?
  • 1 day Cheap natural gas is making it very hard to go green
  • 2 days Coronovairus, Phase One Agreement, Lower for Longer
  • 2 days Hey NYC - Mayor De Blasio declares you must say goodbye to fossil fuels. Get ready to freeze your Virtue Signaling butts off.
Another Major Car Maker Is Backing Hydrogen

Another Major Car Maker Is Backing Hydrogen

The hydrogen fuel cell market has…

Saudis Look To Build Oil Refinery, Petrochemical Plant In South Africa

Refinery

Saudi Arabia plans to build an oil refinery that would use Saudi crude, as well as a petrochemical plant in South Africa, as part of US$10 billion investments, Saudi Energy Minister Khalid al-Falih said on Friday while on a visit to South Africa.

Saudi oil giant Saudi Aramco will lead the construction of the oil refinery in South Africa, al-Falih noted.

“There have been exchanges of talks by Saudi Aramco teams and they have been supported by the South African energy ministry,” Reuters quoted the Saudi minister as saying after a meeting with South Africa’s Energy Minister Jeff Radebe.

“The Republic of South Africa and the Kingdom of Saudi Arabia concluded & signed a declaration of intent to cooperate comprehensively in the field of oil & gas,” Radebe tweeted on Friday.

According to the South African minister, the two countries will finalize in the next few weeks details about the exact locations of the oil refinery and petrochemical plant.

Al-Falih, for his part, noted that Saudi Arabia was interested in using the African country’s major oil storage facilities. In addition, Saudi Arabia’s utility developer ACWA Power is looking to invest in South Africa’s new renewable energy program.

In the summer of 2018, during the state visit of South Africa’s President Cyril Ramaphosa to Saudi Arabia, the Saudis pledged to invest US$10 billion in South Africa, predominantly in the energy sector.

While Ramaphosa was on a visit to Saudi Arabia in July, the outlet Middle East Eye raised questions about the potential involvement of South Africa-made weapons in the conflict in Yemen.

According to annual reports from South African National Conventional Arms Control Committee (NCACC), quoted by Middle East Eye, South Africa supplied arms, ammunition, armored vehicles, and surveillance and military technology to both Saudi Arabia and the United Arab Emirates (UAE) in 2016 and 2017. In 2015, the pro-Houthi Al Masirah news channel showed footage of a shot-down drone. The footage clearly indicated a plate worded ‘Made in South Africa Carl Zeiss Optronics Pty Ltd’ on the crashed drone, Zeenat Adam at Middle East Eye wrote in July 2018.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage


Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News