A South African lawmaking committee agreed to revise draft laws to give the state has the right an unspecified share in all new oil and gas ventures at an “agreed price” or part of output, in addition to a previous provision handing it a free 20 percent stake the projects.
InsideClimateNews.org -- As federal regulators continue investigating why tank cars on three trains carrying North Dakota crude oil have exploded in the past eight months, energy experts say part of the problem might be that some producers are deliberately leaving too much propane in their product, making the oil riskier to transport by rail.
South African legislators said they plan to adopt changes to mining and oil laws before Parliament adjourns ahead of May 7 elections, overriding industry concern that the measures are ill-considered and will deter investment.
At one of the world’s largest coal mines in the Indonesian province of South Kalimantan, enough of the fossil fuel is being stolen every three days to fill a vessel almost the size of the Chrysler Building, according to two people with knowledge of the situation.
The Bakrie family’s attempt to convert $1.3 billion of debt into equity at Indonesia’s PT Bumi Resources and to cut business ties with U.K. financier Nathaniel Rothschild is being stymied by slumping coal prices.
Nickel will climb significantly in 2015 and may advance to more than $20,000 a metric ton in the next few years because of Indonesia’s ban on ore exports, said Vale SA, the world’s second-biggest producer.