International commodity price reporting agency Argus has opened a new office in Cape Town, South Africa.
The African energy sector is experiencing dramatic change. International asset holders are no longer the sole producers of oil and gas as more local participants add to diversity of supply. And downstream marketing and trading companies are entering and investing in the region, heightening competition and increasingly allowing prices to move according to market forces.
Indigenous stakeholders are playing a more active role in a supply chain that is becoming increasingly de-integrated and demand for market pricing, data, news and analysis is growing in this dynamic market.
Argus will use its Cape Town office to further develop its coverage of regional markets across Africa and to continue to bring transparency to the various sectors covered by its reports.
The opening of an office in Cape Town underscores Argus’ long-standing commitment to the continent. Argus coal prices have long been the standard index for South African exports and in recent years Argus has launched the Argus West Africa Oil service covering less transparent crude oil and delivered refined products markets.
“The opening of our Cape Town office will allow us to provide on-the-ground information to African companies and their international trading partners,” said Argus Media Chairman and Chief Executive Adrian Binks.