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Category: International

International Corporate News Energy Oil

Afreximbank’s $4 Billion Backing Powers Dangote Refinery and Africa’s Energy Transformation

The African Export-Import Bank (Afreximbank), the continent’s leading development financier, has revealed that its total financial support to the Dangote Refinery and Petrochemical Complex has exceeded $4 billion. This was disclosed by the bank’s President and Chairman of the Board, Prof. Benedict Oramah, during the closing session of Afreximbank’s 32nd Annual Meetings held on Friday. Oramah attributed the bank’s ability to fund such a massive project to its adoption of what he termed “African Best

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Gold International News

Mali Moves to Sell Seized Gold from Barrick Mine Amid Ongoing Dispute

Mali’s court-appointed administrator has announced plans to sell one metric ton of gold—valued at approximately $107 million—that was previously seized from the Loulo-Gounkoto gold complex, a site operated by Canadian mining giant Barrick Gold. The sale marks a major development in the ongoing dispute between the Malian government and Barrick. According to Reuters, the gold sale decision was made as part of the government’s broader effort to reassert control over the mining site and address

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Corporate News International Oil

Dangote Refinery to Rely Entirely on Nigerian Crude by End of 2025

The Dangote Refinery, Africa’s largest oil processing facility, will transition to using only Nigerian crude by the end of 2025, according to Devakumar Edwin, Vice President of Dangote Industries. The $20 billion refinery—owned by Aliko Dangote, Africa’s richest man—currently processes 650,000 barrels of oil per day. In June 2025, the facility sourced approximately 53% of its crude from Nigerian producers, with the remainder imported from countries such as the United States, Brazil, Angola, Ghana, and

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International News Oil

Ghana Declares Commerciality of Eban-Akoma Oil and Gas Discoveries

The Ministry of Energy and Green Transition has officially declared the Eban-Akoma oil and gas discoveries in the Cape Three Points Block 4 (CTP-B4) as commercially viable, marking a major milestone in Ghana’s upstream petroleum sector. The Declaration of Commerciality (DoC) was submitted by a joint venture comprising Eni Ghana Exploration & Production Ltd, Vitol Upstream Tano Ltd, Woodfields Upstream Ghana Ltd, and GNPC Exploration & Production Company Ltd (Explorco), in collaboration with the Ghana

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International Corporate News Gold

Azumah Resources Begins Construction of Black Volta Gold Mine in Ghana

A major gold mining project in Ghana’s Upper West Region has officially entered the development phase, marking a significant step forward for an initiative long in the making. Azumah Resources Ghana Limited has commenced full-scale construction of the Black Volta Gold Mine, following years of exploration, planning, and recent delays. The Ghanaian-owned company, supported by both domestic and international investors, confirmed it has secured funding from existing shareholders and has begun preparatory work at the

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International Corporate News Oil

Dangote Plans to List Refinery and Fertilizer Plants on Stock Market by 2026

Africa’s richest man, Aliko Dangote, is moving forward with long-anticipated plans to list two of his industrial giants—Dangote Oil Refinery and Dangote Fertiliser Limited—on the Nigerian stock market. Although the idea has circulated for some time, recent developments suggest definitive timelines have now been set, particularly for the refinery. Dangote recently announced that his $20 billion oil refinery will be listed on the Nigerian Exchange (NGX) by the end of 2026. During a visit by

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International News Oil

Congo and Russia to Launch Pointe-Noire-Loutété-Maloukou-Trechot Pipeline by Late 2025

The construction of the Pointe-Noire–Loutété–Maloukou-Trechot pipeline is scheduled to begin by the end of 2025. This major infrastructure project is being developed through a public-private partnership between the Republic of Congo and Russian pipeline company Zakneftegazstroy-Prometey. The announcement was made last week during a meeting between Denis Christel Sassou Nguesso, Congo’s Minister of International Cooperation and Public-Private Partnership Promotion, and Pavel Sorokin, Russia’s Deputy Minister of Energy. Both officials welcomed the progress made on the

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Corporate News International Renewable Energy

Sasol Signs 91 MW Solar VPPA with Akuo to Power Texas Chemicals Facility

South African integrated energy and chemical company Sasol has entered into a virtual power purchase agreement (VPPA) with renewable energy producer Akuo to supply 91 megawatts of solar power—equivalent to approximately 250,000 megawatt-hours (MWh) annually—to its Lake Charles Chemicals Complex in Coke County, Texas. The 15-year VPPA will draw power from Akuo’s 195 MW Tennyson Solar Farm, which is currently under construction in the region. “This increased use of renewable energy, through both direct and

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International Energy

South Africa’s PIC and Development Banks Commit $37 Million to Boost Green Hydrogen Sector

South Africa’s Public Investment Corporation (PIC) has partnered with two development finance institutions to commit $37 million (approximately R655.6 million) toward financing the country’s green hydrogen industry. The Development Bank of Southern Africa (DBSA) and the Industrial Development Corporation (IDC) are collaborating to support the SA-H2 fund, which mobilizes both public and private investments. This fund is jointly managed by Climate Fund Managers, based in The Hague, and Invest International, a Dutch development finance institution.

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Oil Corporate News International

Ghana’s Tema Oil Refinery Targets Full Restart by October 2025 to Slash Fuel Imports

The Tema Oil Refinery (TOR) is on track to resume full operations by October 2025, aiming to drastically reduce Ghana’s dependence on imported refined fuels. In a recent briefing with Parliament’s Energy Committee, Edmund Kombat, TOR’s Acting Managing Director, revealed that Ghana currently spends about $400 million per month on fuel imports. Once TOR is fully operational, he estimates that figure could be cut by more than half. Kombat explained that with the refinery running,

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