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Petroleum

Petroleum is a naturally occurring liquid fossil fuel composed primarily of hydrocarbons, formed from the remains of ancient marine organisms subjected to heat and pressure over millions of years. The term encompasses crude oil and the wide range of refined products derived from it, including petrol, diesel, jet fuel, heating oil, lubricants, asphalt and petrochemical feedstocks. Petroleum is extracted through drilling operations, both onshore and offshore, and is transported via pipeline, tanker or rail to refineries where it undergoes fractional distillation and other processes to separate it into usable products. The industry is divided into upstream activities (exploration and production), midstream (transportation and storage) and downstream (refining and marketing). Petroleum remains the world's most important energy source, accounting for a significant share of global primary energy consumption and serving as the dominant fuel for transportation. Major producing regions include the Middle East, North America, Russia and parts of Africa, with international prices benchmarked against markers such as Brent crude and West Texas Intermediate. In South Africa, petroleum products are supplied through a combination of domestic refining and imports, with the sector regulated to ensure security of supply and compliance with fuel specifications. The industry faces long-term challenges from climate policy, the energy transition and competition from renewable energy and electric mobility. Environmental concerns centre on greenhouse gas emissions, oil spills and the lifecycle carbon intensity of petroleum products. Despite these pressures, petroleum is expected to remain a critical component of the global energy mix for decades, particularly in aviation, shipping and petrochemicals where alternatives are less mature.

Petroleum News


Transnet Pipelines has invited private entities to bid to operate and maintain five strategic fuel storage facilities located in three provinces for lease terms of not less than ten years. The inland facilities include the Bethlehem, Kroonstad and Magdala liquid petroleum depots in the Free State, the Ladysmith fuel storage facility in KwaZulu-Natal and the Standerton petroleum depot in Mpumalanga. The bid submission deadline has been set as December 4.
FUEL STORAGE
16th October 2026

Transnet Pipelines has invited private entities to bid to operate and maintain five strategic fuel storage facilities located in three provinces for lease terms of not less than ten years. The... 


Mining cost pressures accelerated in May as energy shock took hold
Mining cost pressures accelerated in May as energy shock took hold
3rd July 2026 By: Sabrina Jardim

Minerals Council South Africa has reported that mining input cost pressures accelerated sharply in May, reflecting the transmission of higher global energy prices into the South African economy... 


Astron Energy GM for chemical & industrial and lubricants Axola Myendeki
Astron Energy showcases capabilities at Mining Indaba
9th February 2026

Astron Energy, a proud member of the Glencore Group, is a leading supplier of petroleum products in Southern Africa. The company is showcasing its offering at the Investing in African Mining Indaba... 


Process headaches? Let VEGA’s smart sensors do the thinking
Process headaches? Let VEGA’s smart sensors do the thinking
6th January 2026

(Virtual showroom) A petroleum wholesaler based in south-central Michigan has been steadily expanding its operations for over 80 years. Now in its fourth generation, the company provides heating... 


Astron post image
Elevate your engine performance with Astron Energy
9th October 2025

Leading supplier of petroleum production in Southern Africa, Astron Energy, is proud to present its new Quartech Fuel, a revolutionary petrol and diesel formulation enhanced with premium additives,... 


Transport Minister Barbara Creecy
25-year extensions of Island View liquid-bulk terminal leases to boost fuel security – Creecy
3rd October 2025 By: Terence Creamer

Transport Minister Barbara Creecy has issued a directive instructing the Transnet National Ports Authority (TNPA) to renew the leases of existing liquid-bulk terminal operators in the Island View... 


Elevate your engine performance with Astron Energy
Elevate your engine performance with Astron Energy
7th August 2025

Leading supplier of petroleum production in Southern Africa, Astron Energy, is proud to present its new Quartech Fuel, a revolutionary petrol and diesel formulation enhanced with premium additives,... 


Industry bodies say NT Budget signals mining-led growth
13th May 2025 By: Mariaan Webb

The Northern Territory’s (NT's) 2025/26 Budget has been welcomed by Australia’s mining industry as a sign of the government’s intent to drive economic growth through resource development, tax... 


Lia Finocchiaro
Northern Territory cracks down on lawfare
10th February 2025 By: Mariaan Webb

Minerals Council of Australia (MCA) on Monday welcomed the Northern Territory government's commitment to reviewing the third-party merits review processes to ensure they do not act as a barrier to... 


South Africa’s evolving mineral and petroleum industries
3rd February 2025

By: Andréa Cabanac - Senior Associate, Mineral and Petroleum Law Department, Norton Rose Fulbright South Africa’s mineral and petroleum industries faced significant changes in 2024 in view of the... 


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pqt: 0.066s - ct: 0.108s - 195pq - 2rq
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