Maintaining local ownership of South African companies is the best way to boost economic growth, said Elias Masilela, who heads a fund manager that holds shares worth 11 percent of the market value of stocks traded in Johannesburg.
Yamal LNG, a venture developing a project to export liquefied natural gas from the Russian Arctic, agreed to consider the Belgian receiving terminal of Zeebrugge as a transfer point to move the fuel to Asia from Europe.
InterOil Corp., an explorer planning to develop Papua New Guinea’s second gas export project with Total SA, said it has been approached by potential customers interested in buying a stake in the venture.
Talks between Germany and Norway about how to boost the trading of electricity from renewable sources are being held up by concerns that the power cable running under the North Sea won’t ever make money.
Total SA, Europe’s third-largest oil producer, completed a revised agreement to acquire a stake in InterOil Corp.’s natural gas discoveries in the Pacific nation of Papua New Guinea for an initial $401 million.