UAE OPEC Exit Sparks Supply Uncertainty as Global Oil Market Faces Demand Weakness and Rising Output Global oil markets are facing renewed uncertainty following the Organization of the Petroleum Exporting Countries exit announcement by the United Arab Emirates, a move that comes at a time of fragile supply conditions and weakening demand growth. Abu Dhabi confirmed on April 28, 2026, that it will leave OPEC effective May 1, citing the need for greater flexibility to
Sudan Relies on Gold Revenues as War Enters Fourth Year, Smuggling and Investor Shifts Reshape Sector Sudan’s gold industry is emerging as the government’s primary source of revenue as the country’s civil war enters its fourth year. Strong performance from artisanal mining and renewed efforts to attract foreign investment are reshaping the sector’s role in the national economy. The Sudanese Mineral Resources Company (SMRC) reported that revenues from artisanal mining reached 113% of first-quarter targets
Dangote to Lead Tanzania Refinery Project as East Africa Pushes to Cut Fuel Imports Aliko Dangote has pledged to support the development of a new oil refinery in Tanzania, as African leaders intensify efforts to reduce dependence on fuel imports from the Middle East amid ongoing geopolitical tensions. According to William Ruto, the proposed refinery will be built in the port city of Tanga and connected to Mombasa via a regional pipeline network. The facility
Uganda to Launch Third Oil Licensing Round as It Prepares for First Crude Production Uganda is preparing to launch a new oil exploration licensing round in the next financial year, as it moves closer to starting commercial crude production and seeks to expand its resource base. Speaking at a petroleum conference, Energy Minister Ruth Nankabirwa confirmed that the country will open its third petroleum licensing round in the financial year beginning in July. The round
Cameroon Grants Key Exploration Blocks to Murphy and Octavia to Revive Oil Output Cameroon’s Société Nationale des Hydrocarbures (SNH) has advanced its 2025–2026 licensing round, originally launched on August 1, 2025, with the award of five oil and gas blocks to international operators. Murphy West Africa has secured four blocks in the Douala–Kribi–Campo basin, a strategically important offshore and coastal region known for its established infrastructure and previous hydrocarbon discoveries. Octavia Energy Corporation has been
GasEntec and ELTON Partner to Deliver Dakar LNG Terminal, Boosting Senegal’s Power Capacity by 2027 GasEntec has signed contracts with ELTON Logistics & Services to supply a jetty-based LNG regasification unit along with associated onshore infrastructure for the Dakar LNG Terminal in Senegal. The project marks a major step toward expanding Senegal’s energy capacity and is expected to become one of West Africa’s leading LNG import facilities. Once completed, the terminal will supply natural gas
UAE to Leave OPEC in 2026: Analysts Warn of Oil Price Volatility and Revenue Risks for Nigeria The planned withdrawal of the United Arab Emirates (UAE) from the Organization of the Petroleum Exporting Countries (OPEC) is raising concerns among energy analysts, who warn the move could weaken the group’s influence over global oil prices and create risks for oil-dependent economies such as Nigeria. The UAE is set to exit the alliance on May 1, 2026,
Angola’s Calucuve Dam Set for July Completion to Boost Water Supply, Agriculture, and Drought Resilience The Calucuve Dam, located in the municipality of Cuvelai in Cunene province, is expected to be completed in July, according to the Ministry of Energy and Water. The project is part of Angola’s broader efforts to improve water access, strengthen drought resilience, and support regional development in the south of the country. Major water infrastructure project The Calucuve Dam includes
Nigeria Clears $10.3B Eni Offshore Oil Project to Develop Zabazaba and Etan Fields, Targeting 150,000 bpd by 2029 Nigeria has approved a $10.3 billion investment plan by Italian energy company Eni to develop deepwater oil projects offshore, paving the way for long-delayed production at the Zabazaba and Etan fields. The approval was confirmed by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), which oversees upstream oil and gas activities in the country. The project is one
Botswana Launches 500MW Solar + 500MWh Storage Project to Cut Power Imports and Boost Energy Security Botswana has signed a 30-year power purchase agreement for a 500-megawatt (MW) solar photovoltaic plant with 500 megawatt-hour (MWh) battery storage in Maun, marking the country’s largest renewable energy project to date. The agreement was formalised during a groundbreaking ceremony attended by President Duma Boko, who described the project as a shift from planning to implementation in Botswana’s energy
