• 4 minutes Oil Price Editorial: Beware Of Saudi Oil Tanker Sabotage Stories
  • 6 minutes UAE says four vessels subjected to 'sabotage' near Fujairah port
  • 13 minutes Mueller Report Brings Into Focus Obama's Attempted Coup Against Trump
  • 15 minutes Magic of Shale: EXPORTS!! Crude Exporters Navigate Gulf Coast Terminal Constraints
  • 9 hours Wonders of Shale- Gas,bringing investments and jobs to the US
  • 6 hours Why is Strait of Hormuz the World's Most Important Oil Artery
  • 3 mins Trump bogged down in Mideast quagmire. US spent $Trillions, lost Thousands of lives, and lost goodwill. FOR WHAT? US interests ? WHAT INTEREST ? . . . . China greatest threat next 50 years.
  • 4 hours California's Oil Industry Collapses Despite Shale Boom
  • 3 hours North Dakota oil output totals 1.39 million b/d in March, up 4% on month: state
  • 34 mins Misunderstanding between USA and Iran the cause of current stand off, I call BS
  • 2 hours Rural and Conservative: Polish Towns Go 'LGBT free' Ahead Of Bitter European Election Campaign
  • 2 hours Global Warming Making The Rich Richer
  • 8 hours IMO2020 To scrub or not to scrub
  • 9 hours Knock-Knock: Aircraft Carrier Seen As Barometer Of Tensions With Iran
  • 13 hours Crude oil?
  • 6 hours Iceland Reducing Gas Stations By Half By 2025
  • 1 hour Compensation For A Trade War: Argentina’s Financial Crisis Creates An Opportunity For China
  • 9 hours "We cannot be relying on fossil fuels to burn as an energy source at all in our country" - Canadian NDP Political Leader
Alt Text

Petronas Halts all Imports of Iranian Crude in South Africa

Engen, a South African based unit of Petronas, has announced that it has halted all crude imports from Iran, which used to account for 80 percent of

Read more +
Alt Text

Acquisition of Maari 3D Seismic Survey Commences

Cue energy has just released good news regarding permits for projects in New Zealand

Read more +
Alt Text

Environmental Approval Extended for Tassie Shoal LNG Project

MEO Australia Ltd has just received environmental approval for its Tassie Shoal LNG project.

Read more +

Petronas Halts all Imports of Iranian Crude in South Africa

To comply with US and EU economic sanctions against Iran, Engen, a unit of Petroliam Nasional Bhd (Petronas), and South Africa’s largest importer of Iranian crude, has announced its suspension of all oil imports from the Persian state.

Engen operates the second biggest refinery in South Africa, processing 135,000 barrels a day, and normally buys 80 percent of its crude from Iran. A spokeswoman for the company, Tania Landsberg, said that contingency supplies have been put in place to cover the loss of Iranian crude. Although Shamsul Azhar Abbas, CEO of Petronas, said that whilst alternative supplies have been sought, none have, as of yet, been secured.

The cost to Engen for converting the refinery to handle a different type of oil is estimated to be around $39 million, said Nelisiwe Magubane, director general of the department of energy in South Africa.

The South African government will do all they can to ensure that the higher cost of other oil supplies over Iranian crude will not negatively affect the Engen refinery, or the regional economy in general.

The Natref refinery, which is run by Sasol Ltd. and Total SA, has also halted all imports of Iranian crude, which used to provide about 20 percent of supplies to the refinery.

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