Category: Petroleum

Aliko Dangote Exposes Offshore Fuel Cartels Threatening Africa’s Energy Independence Africa’s richest man, Aliko Dangote, has sounded the alarm over the growing influence of black market fuel cartels operating in offshore waters across the continent. He warned that these illicit networks are actively sabotaging efforts to build domestic refining capacity by manipulating prices and supply chains—particularly through maritime fuel trading hubs like Lomé, Togo. Speaking at the Global Commodity Insights Conference on West Africa in

Read More Here

U.S. Exports More Crude Oil to Nigeria Than It Imports for the First Time in 2024 For the first time in history, the United States exported more crude oil to Nigeria than it imported during February and March 2024, according to data from the U.S. Energy Information Administration (EIA). This reversal in trade flows was largely driven by reduced demand on the U.S. East Coast due to scheduled refinery maintenance and increased demand from Nigeria’s

Read More Here

Nigeria Partners with S&P to Launch West Africa’s First Regional Fuel Pricing Benchmark West Africa is taking a major step toward energy market independence with the development of a regional pricing benchmark for refined petroleum products. Historically, the region has relied on global reference markets that often fail to reflect its unique supply chain dynamics. In a move to address this gap, Nigeria has partnered with S&P Global Commodity Insights to create localized pricing indices

Read More Here

In an interview with Jeune Afrique, Democratic Republic of Congo’s Minister of Hydrocarbons, Aimé Sakombi Molendo, announced that the country will undertake a complete revision of its Petroleum Code. According to him, the reform proposal will be submitted to the Council of Ministers within the next three months before being forwarded to Parliament for approval. Explaining the need for this reform, the Minister cited the failure of the oil block tender launched on July 28,

Read More Here