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Refocused CEF strategy yields improved financial results.

Tuesday, 08 November 2016                                  MEDIA STATEMENT                                                  CEF SOC Ltd, South Africa’s national energy utility returns to profitability and celebrates a historic unqualified audit opinion issued by the Auditor General (AG). Highlights for the 2015/16 financial year: Recorded a net profit of R259 million (2014/15: loss of R14.2 billion) R600 million invested into the […]

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SFF Chevron expression of interest CEF response media release

1 July 2016                                               Media Statement                                                                                                                                                                           Response from CEF Group on SFF’s Expression of interest to Chevron SA The CEF Board of Directors met to consider reports that the Strategic Fuel Fund has expressed interest in acquiring Chevron SA assets. The board established that these reports were correct and that the actions of SFF […]

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Statement issued by the Central Energy Fund on the SFF rotation of strategic stocks.
26 May 2016

The Board of the Central Energy Fund has noted the article in the Business Day of 26th May 2016, titled “Strategic Stock sold off secretly”. We wish to correct the impression created by the article that there are issues based on the misunderstanding of the management of strategic stock. The article makes particular incorrect assertions, […]

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Vast majority of SA’s offshore oil and gas blocks already under licence, application

Interest in oil and gas exploration off South Africa’s coast has, in the past four years, accelerated to such an extent that nearly all the country’s offshore exploration blocks are under licence or under application for exploration by independent companies, Petroleum Agency SA geologist Jonathan Salomo told delegates at the Gas Africa conference. “There has […]

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Government ready to move forward with fracking

Government says it is ready to regulate and monitor companies that have expressed an interest in exploring shale gas in the country. Thibedi Ramontja, the Director-General of the Mineral Resources Department, said the draft regulations will, once finalised, be effective to deal with the risks that exploration might pose to the environment. Ramontja was briefing […]

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CNG could keep Mossel Bay GTL plant alive

PetroSA is understood to be considering importing CNG to keep its 45,000 barrel per day Mossel Bay GTL refinery operational, although it has abandoned plans to import LNG. While PetroSA has not publically announced the CNG plans, Interfax understands that in April the company sent out a request for advice pertaining to a project to […]

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Address by the Minister of Energy, during the delivery of the Budget Speech 2014, Parliament, Cape Town

LADIES AND GENTLEMEN I want to greet you firstly in the name of our beloved leader, former President Nelson Mandela, whose birthday we celebrated last week. I ask that we debate this matter with the same spirit and intensity with which he fought against injustice, but also with the same degree of humility that Madiba […]

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DoE will align itself with NDP

Minister of Energy, Tina Joemat-Pettersson. The Department of Energy (DoE) will ensure a maximum level of alignment between the National Development Plan (NDP) and the Strategic and Annual Performance Plans of the department. “The next five years is about moving South Africa forward towards a secure energy future,” Minister of Energy Tina Joemat-Pettersson told the […]

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State-owned entities poor at disclosure

 State-owned entities poor at disclosure LEVELS of disclosure at South Africa’s state-owned companies (SOC) are generally dismal, although a number of companies such as Eskom, Transnet and Telkom indicate that world-class standards are attainable. While there are indications that reporting standards are improving, in a few notable cases such as the Central Energy Fund, the […]

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Mthombo an imagination capturing project that goes beyond the dream

The industrial future of Nelson Mandela Bay hinges on a number of items, but none so powerful and imagination capturing as PetroSA’s Project Mthombo – a project that will not only change the industrial face of the province, but also diversify and re-dimension the provincial economy. The possibilities in PetroSA’s Project Mthombo are endless – […]

R2bn Saldanha Bay oil facility gets environmental approval

Newly formed oil group Oiltanking MOGS Saldanha (OTMS), a joint venture (JV) between Oiltanking Grindrod Calulo (OTGC) Holdings and Mining, Oil and Gas Services (MOGS), has been granted environmental authorisation for the development and construction of a R2-billion commercial crude oil blending and storage terminal, in Saldanha Bay. The approval, which was granted by the […]

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CEF mourns the passing of employee,

Ms Zandile Sithole Ms Sindisiwe Zandile Sithole joined CEF in the capacity of General Manager: Corporate Services in August 2013. Ms Sithole was a dynamic, academically astute leader with a wealth of experience in the Corporate Strategy, Human Capital Management, and Property Management fields. She had a legal background with B.Juris and LL.B qualifications and […]

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CEF Energy Leaders Roundtable: Martins promises baseload, cogen IPP procurement programmes by March

 Energy Minister Dikobe Ben Martins reported on Tuesday that a deadline of the end of March had been set by the Department of Energy (DoE) for the initiation of the long-awaited procurement processes for new baseload and cogeneration independent power producer (IPP) projects. Addressing the media on the sidelines of an energy leaders roundtable in […]