Oil price crash brings good news for Eskom

Hanno Labuschagne

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Sep 2, 2019
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Oil price crash brings good news for Eskom

The plunge in international oil prices has a potential upside for South Africa’s debt-stricken state power utility.

Eskom Holdings SOC Ltd. can’t generate enough power from its coal-fired power stations to meet demand, and burnt through diesel worth R6.5 billion ($407 million) at its open-cycle gas turbines in its last financial year to try and avert or limit power cuts.

With the utility expecting supply constraints to persist for at least 18 months, a prolonged fuel price slump will go some way to helping contain its primary energy costs.

[Bloomberg]
 

sparticus

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Jun 11, 2007
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Whats does this mean for the petrol price ? Can we expect a dare I dream 10% reduction
 

Thor

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Jun 5, 2014
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39,614
We need to take advantage and buy back our oil reserves we sold to the Guptas at 15 dollar a barrel.
 

air

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May 19, 2005
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for the market peeps, what is the best oil instrument to buy if you think that it will recover?
 

RedViking

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Feb 23, 2012
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26,720
Yeah! The petrol price is coming down 30%......


.....on 1 April.
 
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