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Category: Petroleum

International Corporate News Oil Petroleum

Dangote Refinery Gains From Strait of Hormuz Crisis as Africa Seeks Alternative Fuel Supplies

Aliko Dangote Profits From Strait of Hormuz Disruption as African Nations Scramble for Fuel Security The closure of the Strait of Hormuz has become a major financial windfall for Nigerian billionaire Aliko Dangote, as global energy disruptions drive up refining margins and increase demand for alternative fuel suppliers. According to a senior executive at the Dangote refinery, fertiliser prices have doubled while jet fuel margins have risen sharply due to tightening global supply conditions. Speaking

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International News Oil Petroleum

South Africa Turns to US Fuel Imports as Middle East Supply Risks Reshape Energy Trade

South Africa Boosts US Fuel Imports Amid Strait of Hormuz Tensions and Rising Global Shipping Costs South Africa is increasing fuel imports from the United States as instability along key Middle East shipping routes continues to disrupt traditional supply chains and push up global energy costs. The shift reflects a broader adjustment among fuel-importing economies that are rethinking sourcing strategies amid tighter maritime corridors, longer shipping distances, and rising freight and crude prices. For many

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International News Oil Petroleum

Uganda Targets 10% GDP Growth on Oil Start as Infrastructure and Timeline Challenges Persist

Uganda Eyes Double-Digit GDP Growth from Oil Production Despite Pipeline Delays and 2027 Output Risks Uganda is projecting that its Gross Domestic Product (GDP) could grow by more than 10% once commercial oil production begins, according to government statements shared on X. The state also announced it has allocated UGX 24.3 billion (approximately $6.57 million) to accelerate preparations for production. The government maintains that oil output could begin this year, marking a major milestone in

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Corporate News International Oil Petroleum

Trafigura Signs $1bn Oil-Backed Financing Deal with Gabon to Boost Liquidity

Gabon secures $1 billion oil-backed financing from Trafigura in seven-year crude supply deal to strengthen public finances and investment spending Global commodities trader Trafigura has signed a $1 billion oil-backed financing agreement with the government of Gabon, providing upfront liquidity in exchange for future crude oil deliveries over a seven-year period. Announced on Wednesday, the arrangement will see Trafigura extend prepayment financing to the Gabonese state while acting as the exclusive buyer of the country’s

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International News Oil Petroleum

Zambia Launches US$1.1 Billion Oil Refinery Project to Boost Energy Security

Zambia Launches US$1.1 Billion Crude Oil Refinery Project in Ndola to Boost Energy Security and Industrial Growth The Zambian Government has officially launched the construction of a US$1.1 billion crude oil refinery in Ndola, marking a significant milestone in efforts to strengthen the country’s energy security and accelerate industrial development. Speaking at the ground-breaking ceremony, Minister of Energy Makozo Chikote said the project is being driven by the private sector through Fujian Xiang Xin Corporation

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Corporate News Local Oil Petroleum

Sonangol Assures Stable Fuel Supply to Angola Despite Middle East Conflict

Sonangol Guarantees Fuel Supply Stability in Angola as Middle East War Disrupts Global Oil Routes Luanda — Angola’s state-owned oil company, Sonangol, has assured the public of the continued supply of fuel to the national market despite escalating conflict in the Middle East that has disrupted key global oil and natural gas transport routes. The assurance was provided last week by Alfredo Alberto, Director of Supplies and Purchasing at Sonangol, who emphasized that fuel distribution

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Corporate News International Oil Petroleum

Nigeria’s Petrol Imports Plunge as Dangote Refinery Dominates Local Supply

Nigeria Cuts Petrol Imports as Dangote Refinery Meets 92% of Fuel Demand Nigeria recorded a sharp decline in petrol imports in February as the Dangote Refinery significantly boosted domestic fuel supply, meeting approximately 92% of the country’s demand. According to an official factsheet on Nigeria’s midstream and downstream petroleum operations, total petrol supply dropped from 64.9 million litres per day in January to 39.6 million litres per day in February. The decline reflects reduced reliance

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International News Oil Petroleum

Libya’s Arabian Gulf Oil Company Launches Production at Z-13 Well in Al-Bayda Field

Libya Starts Production at Z-13 Well in Al-Bayda Field as AGOCO Expands Oil Output Arabian Gulf Oil Company (AGOCO) has officially started production at the Z-13 well in the Al-Bayda Field in Libya, marking another step in the country’s efforts to increase oil output and strengthen its energy sector. The company confirmed that the well has been successfully connected to the Al-Door Production Station after maintenance teams completed the required mechanical linkage. The project included

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Corporate News Oil Petroleum

Shell Reaffirms Commitment to Reviving Angola’s Oil Production

Shell Pledges Support for Angola’s Oil Production Revival as Company Returns After 20 Years Shell has reaffirmed its commitment to supporting Angola’s efforts to revive and expand oil production as the global energy company moves to re-establish its presence in the country after a 20-year absence. The commitment was highlighted by Alioune Sourang, CEO of Shell in Angola, following a meeting with Angola’s Minister of Mineral Resources, Petroleum and Gas, Diamantino Azevedo. According to a

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International News Oil Petroleum

Nigeria to Launch Cawthorne Crude Exports as Output Recovers

Nigeria Introduces Cawthorne Light Sweet Crude to Boost Exports and Strengthen OPEC Position The Nigerian National Petroleum Corporation has announced plans to begin exporting a new light, sweet crude grade known as Cawthorne from March, signaling a gradual recovery in production from Africa’s largest oil exporter. The launch of the new grade comes as Nigeria works to restore output levels that have been constrained for years by pipeline vandalism, crude theft and security challenges in

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