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International News Oil

East African Crude Oil Pipeline Nears Completion as Construction Reaches 82%

EACOP Hits 82% Completion, Moves Closer to First Oil from Uganda to Tanzania The East African Crude Oil Pipeline has reached 82% overall completion as of April 2026, with construction progressing steadily across pipeline sections, pump stations, and export infrastructure in Tanzania and Uganda. The update was disclosed by the project company in its latest construction report, confirming that the 1,443-kilometre heated pipeline, designed to transport crude oil from Uganda to Tanzania’s coastline, is advancing

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Corporate News International Oil

BP to Invest $1.5 Billion in Natural Gas Exploration in Egypt

BP Commits $1.5B to Boost Natural Gas Production in Egypt’s North Coast and Nile Delta BP has announced plans to invest $1.5 billion in natural gas exploration in Egypt during the 2026–27 fiscal year, signaling its intention to expand operations while supporting Egypt’s goal of strengthening its energy sector and increasing export capacity. The investment will fund the drilling of new exploration wells along the North Coast and in the Nile Delta, areas critical for

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Corporate News International Oil

Dangote Refinery Secures $2.5 Billion from Afreximbank for Expansion

Dangote Petroleum Refinery Receives $2.5B Afreximbank Loan to Boost Nigeria’s Fuel Production Nigeria’s Dangote Petroleum Refinery and Petrochemicals has secured $2.5 billion from the African Export-Import Bank (Afreximbank) as part of a $4 billion syndicated term loan, strengthening the financial position of Africa’s largest oil refinery and supporting its next phase of expansion. Afreximbank and Access Bank acted as co-mandated lead arrangers for the five-year facility, which is intended to refinance existing debt and align

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International Corporate News Oil

Namibia Advances Review of Venus Oil Project, Eyeing Major Revenue Boost

Namibia Reviews TotalEnergies’ Venus Oil Project Plan, Potentially Generating N$229 Billion in Revenue The Namibian government has begun reviewing the field development plan (FDP) submitted by TotalEnergies for the proposed Venus oil project, moving the initiative closer to negotiations and a final investment decision. Prime Minister Elijah Ngurare stated that the upstream petroleum unit within the Office of the President has made significant progress on technical and policy matters, including an initial assessment of the

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Corporate News Diamonds International

Petra Diamonds Reports Higher Quarterly Revenue as Cullinan Blue Diamond Sale Boosts Performance

Petra Diamonds Sells 781,797 Carats in Q3 2026, Books Revenue from Rare Cullinan Blue Diamond Despite Ongoing Market Weakness Petra Diamonds, the London-listed diamond producer, sold 781,797 carats during the quarter ended March 31, the third quarter of its 2026 financial year. Quarterly revenue rose to $68 million, up from $49 million in the previous quarter. However, the average price declined to $87 per carat, an 11% drop from $98 per carat, reflecting a 15%

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Corporate News Diamonds International

Lucara Secures $350 Million Bond Financing to Complete Karowe Underground Expansion

Lucara Diamond Raises $350m in Senior Secured Bonds to Fund Karowe Underground Project Completion in Botswana Canada-headquartered Lucara Diamond Corp has successfully closed a $350 million senior secured bond issuance, providing the financial certainty required to advance its Karowe Underground Project in Botswana through to completion. The five-year bonds carry a fixed annual coupon rate of 12.5%, with interest payments scheduled on a quarterly basis. Proceeds from the financing have been used to fully repay

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Corporate News International Oil

Chevron’s Wheatstone LNG Plant Hit by Cyclone Damage, Production Trains Remain Offline

Chevron Reports Extensive Cyclone Damage at Wheatstone LNG Facility in Australia, Full Production Delayed for Weeks Chevron Corporation said on Tuesday that downstream infrastructure at its Wheatstone LNG Plant in Western Australia sustained significant damage following a tropical cyclone, leaving both production trains temporarily offline. Danny Woodall confirmed that the two liquefied natural gas (LNG) processing trains at the 8.9-million-tonne-per-year facility remain shut after Tropical Cyclone Narelle struck the region last week. Speaking at the

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Corporate News International Oil

Afreximbank Backs Dangote Refinery with $2.5 Billion Loan to Strengthen Africa’s Industrial Capacity

Afreximbank Underwrites $2.5bn for Dangote Refinery in $4bn Deal to Boost Africa’s Energy Security and Industrial Growth The African Export-Import Bank has underwritten US$2.5 billion of a US$4 billion senior syndicated term loan for Dangote Petroleum Refinery and Petrochemicals, a move expected to reinforce Africa’s largest refining complex and accelerate the continent’s industrial development agenda. The five-year financing facility, arranged in partnership with Access Bank, is designed to consolidate existing debt, optimise the refinery’s capital

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Corporate News Diamonds International

Rio Tinto Concludes 20+ Years of Production at Diavik Diamond Mine

Rio Tinto Ends Production at Diavik Diamond Mine in Canada After Producing 150 Million Carats Rio Tinto has officially marked the end of production at its Diavik diamond mine in Canada’s Northwest Territories, concluding more than two decades of operations that yielded over 150 million carats of rough diamonds. Located approximately 220 km south of the Arctic Circle beneath Lac de Gras, Diavik was discovered in 1991 and began production in 2003. The operation, comprising

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International Gas News

Spain and Algeria Near Agreement to Boost Gas Supplies via Medgaz Pipeline

Spain and Algeria in Talks to Increase Gas Supply by 10% Through Medgaz Pipeline Amid European Energy Concerns Spain and Algeria are in advanced negotiations to increase gas supplies through the Medgaz pipeline, potentially boosting flows by up to 10%, as Europe seeks more secure energy sources amid geopolitical tensions. Two sources familiar with the discussions told Reuters that a preliminary agreement could be reached during Spanish Foreign Minister José Manuel Albares’ visit to Algiers

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