Edition:
United Kingdom

Wendell Roelf

South Africa pledges $5 billion Eskom bailout as budget creaks

7:16pm GMT

CAPE TOWN South Africa will bail out state utility Eskom with 69 billion rand ($4.9 billion) over three years, the centrepiece of a budget that exposed the limited room President Cyril Ramaphosa has to fix the economy ahead of an election in May. | Video

UPDATE 4-South Africa pledges $5 bln Eskom bailout as budget creaks

6:25pm GMT

* Ramaphosa struggles with divided party before May vote (Adds Moody's, market reaction, Eskom chair, more Mboweni)

Eskom split to minimize risks to South Africa, Ramaphosa says

14 Feb 2019

JOHANNESBURG/CAPE TOWN South African President Cyril Ramaphosa said his plan to divide struggling state power firm Eskom into three units would minimize risks to the economy, as a fifth day of power cuts hurt businesses and drove the rand to a six-week low on Thursday.

Eskom in danger of collapse without bailout, South Africa says

13 Feb 2019

JOHANNESBURG/CAPE TOWN South African power utility Eskom needs a cash injection by April to survive, the country's public enterprises ministry warned in a presentation on Wednesday, although it later changed its wording to say the firm was "facing liquidity challenges".

South Africa's Ramaphosa pledges to fix economy as election looms

07 Feb 2019

CAPE TOWN South African President Cyril Ramaphosa announced plans on Thursday to split struggling state power giant Eskom into three separate entities, as he sought to convince investors and voters that he will turn around a struggling economy before an election in May. | Video

UPDATE 2-S.Africa's Ramaphosa pledges to fix economy as election looms

07 Feb 2019

* Labour unions wary of potential job cuts (Adds detail, analyst, context)

Saudi Arabia to spend $3.8 billion to enhance mineral exploration

06 Feb 2019

CAPE TOWN Saudi Arabia will invest around $3.8 billion to enhance access to geoscience data and reduce regulatory red tape as it looks to boost mineral exploration, senior government officials said on Wednesday.

Saudi Arabia to spend $3.8 bln to enhance mineral exploration

06 Feb 2019

CAPE TOWN, Feb 6 Saudi Arabia will invest around $3.8 billion to enhance access to geoscience data and reduce regulatory red tape as it looks to boost mineral exploration, senior government officials said on Wednesday.

Equatorial Guinea to offer Ophir's old oil and gas block in April auction

05 Feb 2019

CAPE TOWN, Feb 5 Equatorial Guinea will offer offshore Block R with the related Fortuna gas development project in the April licensing round, after the concession was reclaimed from Ophir Energy Plc, the oil minister said on Tuesday.

Oil major Total plans biggest exploration drive in years

29 Jan 2019

PARIS/CAPE TOWN Total is launching its biggest exploration campaign for years in 2019 as part of a turnaround plan that is ditching the company's focus on risky long-shots in favour of areas known to contain commercial levels of oil or gas.

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