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SNC-Lavalin completes C$2.1bn Kentz buy-out

TSX-listed SNC-Lavalin has completed its C$2.1-billion buy-out of global oil and gas services company Kentz Corporation, with the latter’s integration into the engineering and construction firm under way. SNC-Lavalin aimed to transform its oil and gas division into a 20 000-employee-strong group capable of undertaking large and complex projects in the upstream, liquefied natural gas, unconventional, pipelines, offshore jackets and steam-assisted gravity drainage sectors, after the absorption of Kentz’s 14 500-employee operation.

Afrox hoping Competition Commission enquiry will unlock LPG import opportunities

JSE-listed African Oxygen (Afrox) was hoping the Competition Commission enquiry into the liquefied petroleum gas (LPG) industry, of which the results were expected to be released in March 2016, would unlock opportunities for the competitive importation of LPG in to South Africa, FD Nick Thomson said on Friday. Speaking at a presentation of the company’s financial results for the six months ended June 30, he said South Africa required an ever-increasing amount of LPG relative to the energy basket; however, local refineries were under pressure as a result of the Clean Energy Bill and ageing infrastructure.