PETROLINE PUTS iPAYIPI in the shade

PETROLINE, now armed with a National Energy Regulator (Nersa) licence to construct a petroleum product pipeline between Mozambique and Nelspruit, has snaffled Petrofac as a 25% equity partner. They have modestly not revealed what this is actually worth. Whatever. It brings Petroline closer to being the builder of the first privately-owned pipeline to be built in South Africa since the 1960s. Meanwhile, Friday brings iPayipi to the fore with public hearings into their licence application to Nersa. Given the speed with which Petroline got both a licence and a new partner, it would seem that it has an inside track. Could Sasol be their backers, Spigot wonders? Ipayipi supporters, whoever they are, don't seem to have quite the same clout. By contrast, Petroline are so confident that they have announced they will dredge the Maputo harbour to a depth of 14 m, which will allow 85 000 t vessels to enter. Not quite a VLCC's requirements.