Total makes second ‘significant’ gas condensate find off South Africa

  London — Total and its partners have made a “significant” gas condensate discovery near the major Brulpadda find off South Africa’s Western Cape raising the prospects of a new gas push in the country’s coal-dominated energy sector. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now The Luiperd well encountered 73 meters of net gas condensate pay in “well-developed good quality” reservoirs after drilling to a total depth of about 3,400 meters, Total said Oct. 28. The Luiperd prospect, located in the Outeniqua Basin 175…

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China Has Copper Flying Like a FANG Stock

Bloomberg Opinion) — Copper has touched $7,000 per metric ton on the London Metal Exchange, having climbed roughly 60% from a late-March nadir. The industrial metal is trading at levels unseen since 2018 despite a surge in coronavirus infections in Europe and beyond, stockpiles rising off recent lows, and expectations of a surplus in 2021. The reason is China, which is dominating the 24-million-ton per year market like never before thanks to a recovery that is outpacing other economies. The metal’s rebound from four-year lows in March mirrors the rally in that other gravity-defying asset class, the FANG-powered U.S.…

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South Africa needs R178bn to help transition from coal, study says

South Africa needs a climate finance transaction of $11 billion (R178 billion) to help the country transition from coal to renewable energy and to soften the blow for communities dependent on the mining and use of the fossil fuel, a University of Cape Town study said. South Africa, through state utility Eskom Holdings, is almost entirely dependent on coal for electricity. The country produces the same quantity of greenhouse gases as the UK, which has an economy eight times larger. “The study envisions a climate finance transaction of $11 billion…

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Coal, the backbone of South Africa’s electricity

  Seen as the backbone of South Africa’s electricity supply, coal plays a vital part in the country’s energy production.The inaugural Coal Industry Day discussion panel saw corporates coming together in Joburg last week for an in-depth look into ways to resolve power generation challenges currently plaguing the country. Mining investment company Menar’s managing director Vuslat Bayoglu highlighted ways in which the sector could address some of its difficulties. “Coal suppliers need to deal fairly with Eskom by seeking reasonable returns and not excessive profits. High input costs to power…

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Coal will be around for a long time yet

  The idea that coal mining is a sunset industry was put to rest at the Coal Industry Day in Johannesburg this week. Coal’s outsized contribution to mining and the energy grid cannot be wished away, no matter how many wind turbines are erected in honour of environmental correctness. Xavier Prévost, senior coal analyst at XMP Consulting, ran through the numbers and it’s clear coal will be here for a long time yet. Coal is found in 70 countries and mined in 50 of them. At current rates of consumption,…

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SA’s energy map should consider all role players

South Africa should consider all energy sources available in its future energy plans, says Energy Minister Jeff Radebe. “During the energy planning process, we therefore cannot discriminate against or favour any particular energy carriers,” said Radebe. Addressing the BBQ Awards held at Emperor’s Palace on Friday, Radebe said the country cannot ignore the fact that South Africa is endowed with abundant coal reserves that come at a cheap price. “However this is counter-balanced by the high carbon content that coal has, and this cost has been internalised when we analysed…

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