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CEF Group

CEF Group. MB Damane, Group CEO 10 November 2009. STATE. CEF GROUP STRUCTURE. ETA ENERGY. Without sufficient, appropriate and affordable energy the modern economy cannot function. The wastes from fossil fuels contribute to global climate change.

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CEF Group

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  1. CEF Group MB Damane, Group CEO 10 November 2009

  2. STATE CEF GROUP STRUCTURE ETA ENERGY

  3. Without sufficient, appropriate and affordable energy the modern economy cannot function. The wastes from fossil fuels contribute to global climate change. A move to renewable and cleaner energy sources is an imperative that can no longer be ignored. Despite this fossil fuels will continue to play a critical role in energizing the South African economy. CEF plays an active role in helping the country’s energy industry develop in both fossil fuels and in renewables

  4. CEF operations • In renewable energy • In conventional fossil fuels • In cross-cutting energy related issues

  5. Renewable energy activities • EDC • Commercial projects • Developmental projects • ETA • Landfill gas • Solar water heaters

  6. Highlights • Progressing landfill gas projects • Developing solar water heating rollout programme • Basa njengo magogo programme • Safer paraffin appliance pilot

  7. Conventional energy activities • SFF • OPCSA • iGas • African Exploration • PASA • PetroSA

  8. Highlights • Maintained strategic oil stocks • Managed environmental responsibilities and liabilities without incident • Expanding piped gas capacity through compressor investment • Developing plans to exploit coal reserves • Managing petroleum licensing

  9. Cross-cutting issues • Saneri • NEEA • Carbon business • SASDA

  10. Highlights • Continued development of energy research hubs • Support for post-graduate students • Energy R&D projects • Interactions on a number of energy efficiency projects • Developing projects under the CDM through CEF Carbon operating in London • Collaboration with NORAD in Carbonstream Africa • Breaking barriers for entry into the energy industry through SASDA

  11. PETROSA GROUP RESULTS FOR YEAR-ENDED31 MARCH 2009

  12. Key Highlights for 2008/09 • PetroSA achieved record revenues of R12.1 billion, up 18% from 2007/08 • A dividend of R725 million was declared to the shareholder • Progress was made in finding a long term sustainable solution for gas supply to the Mossel Bay refinery. • Refinery Project( Mthombo) progressed well, with feasibility studies initiated. This will be followed by more detailed technical studies beginning early 2010. • Achieved total BEE procurement expenditure of R1.1 billion , or 41% of total procurement spend. This exceeded the industry charter prescription of 25%. • PetroSA achieved a level 2 BBBEE contributor status. This is just 1 level below maximum status attainable! • We were awarded a BEE facilitator status for acquisition of downstream assets by Department of Trade and Industry.

  13. Key Highlights… • Continued to develop skills and empower women - 280 artisans trained at Centre of Excellence in M-Bay, some of whom are currently engaged in Shutdown - 50 bursaries awarded for studies in universities across the country - Sponsored Masters Programme in Geophysics, B-Tech in Chemical Eng & Leadership in Oil & Energy for Women R50 millon was spent on CSI initiatives, focussing on Education; Health & Community Development e.g: - Built a R13 million school from scratch in Nqadu village, Eastern Cape - Committed R9 million to University of Johannesburg to build academic capacity of previously disadvantaged persons (at PhD level)

  14. Strong revenue growth due to marginally higher oil prices and a weaker Rand vs the US Dollar • Cost of sales significantly high year-on-year mainly arising from imported feedstock and substitution of indigenous hydrocarbons with low-margin imported fuel sales. • Other operating expenses reflective of our efforts to find reserves in Africa (Sudan, Equatorial Guinea and Gabon)

  15. Strong balance sheet underpinned by a single-source revenue earner (Mossel Bay) • High cash balance currently but major projects planned include the Crude Refinery in Coega,a downstream retail acquisition and Liquefied Natural Gas (LNG) importation for the Mossel Bay refinery. • Studies being finalised regarding the medium-to-long term future of the Mossel Bay plant.

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