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Category: Petroleum

International Oil Petroleum

Dangote Refinery Set to Begin Fuel Sales After Multiple Delays

The long-awaited Dangote fuel is set to hit the market soon. The 650,000-barrel-per-day refinery is expected to start selling Premium Motor Spirit (PMS), commonly known as petrol, to Nigerians in mid-September, following several missed deadlines. According to Punch newspaper, citing an anonymous source, the Dangote refinery is nearing the commencement of petrol sales. The source confirmed that the Dangote Group is finalizing arrangements for the distribution of the product. The Punch report also indicated that

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International Petroleum Transport and Logistics

President Nyusi Inaugurates New Platforms to Boost Fuel Pipeline Capacity from Beira to Zimbabwe

On Thursday, August 29, 2024, President Filipe Jacinto Nyusi of Mozambique officially inaugurated two new pumping platforms at the Port of Beira. These platforms, built by Companhia do Pipeline Moçambique-Zimbabwe (CPMZ), are located in Beira (Sofala) and Maforga (Manica) and have increased the pipeline’s fuel pumping capacity from Beira to Feruka, Zimbabwe, from two million to three million cubic meters per year. Company Overview: CPMZ Companhia do Pipeline Moçambique-Zimbabwe, Limitada (CPMZ), has been a key

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Local Oil Petroleum

Pumangol Achieves International Recognition for Aviation Fuel Excellence and Safety

Pumangol, an Angolan fuel supply company, has earned international acclaim for its commitment to excellence and safety in the civil aviation sector, becoming the only operator in Angola accepted by the Joint Inspection Group (JIG). In a statement released today, Pumangol highlighted that being recognized as a JIG member places the company among those adhering to the highest global standards in fuel supply operations at airports. Additionally, Pumangol has been acknowledged as a strategic partner

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Oil Petroleum

Executive Committee changes at TotalEnergies

Appointments were made to the Executive Committee at TotalEnergies, effective 1. September: Effective September 1st, 2024, TotalEnergies’ Executive Committee will comprise: Bernard Pinatel’s biography Bernard Pinatel started his career at Booz Allen & Hamilton, before joining TotalEnergies in 1991, where he held various operational positions in production plants and the headquarter of different subsidiaries, including Hutchinson. He became CEO France, and then CEO Europe of Bostik between 2000 and 2006, and Chairman and Chief Executive

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Oil International Partnerships Petroleum

South Sudan Partners with China’s Sokec to Modernize Oil Industry

China’s Shengli Oilfield Keer Engineering and Construction Company (Sokec) has signed a landmark agreement with South Sudan’s state-owned Nile Petroleum Corporation (Nilepet) to construct modern oil refinery and storage facilities in the country. The Memorandum of Understanding (MoU) was signed by Sokec President Wu Song and Nilepet Managing Director Muhammad Lino Benjamin. This agreement marks the beginning of Sokec’s investment in South Sudan, the youngest nation in Africa. Benjamin praised Sokec for its contributions to

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International Oil Petroleum

Namibia Targets Top Five Oil Producer Status in Africa by 2035

Namibia aims to become one of Africa’s top five oil producers by 2035, with a goal of reaching a daily output of 500,000 barrels, surpassing Egypt, according to a government official. Ebson Uanguta, the interim managing director of the National Petroleum Corporation of Namibia, announced at an industry event that the country could achieve this target with the deployment of four floating production storage and offloading (FPSO) units by 2035. He cited projections that Namibia

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International Oil Petroleum

Nigerian Regulators to Approve Exxon’s $1.3B Asset Sale to Seplat Within Four Months

Nigerian regulators anticipate formal approval of Exxon Mobil Corp.’s $1.3 billion sale of its oil and gas assets to Seplat Energy Plc within the next four months. The transaction, involving Africa’s largest oil exporter, has been pending regulatory approval since 2022. The Upstream Petroleum Regulatory Commission has now indicated that the approval process should be completed within the legally mandated 120-day window, according to Bloomberg. In May, Nigeria’s state oil company reached an agreement that

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Oil International News Petroleum

Libya’s Oil Production Halts Amid Eastern Shutdown, UN Warns of Economic Collapse

Libya’s oil production has sharply declined after authorities in the country’s east enforced a shutdown, escalating a crisis that the United Nations warns could lead to economic collapse. Operations at the El-Feel oil field in southwestern Libya have stopped, with local operators signaling plans to gradually halt production nationwide, according to sources cited by Bloomberg. The shutdown, announced by eastern authorities on Monday, is in response to the internationally recognized Western government’s decision to replace

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International Oil Petroleum

Top 10 African countries with the lowest fuel prices in August 2024

A low cost of petrol in Africa provides much-needed relief to economies that may already be facing fiscal difficulties. Fuel costs have a major impact on several aspects of the African economy, hence the necessity of market control. Reduced energy prices benefit both consumers and companies, providing stability and economic empowerment. Expensive transportation costs can exacerbate poverty in many African nations by limiting access to needs such as food, medical care, and education. As a

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Local News Oil Petroleum

Angola’s Fuel Sales Increase in Q2 Despite Drop in Imports

Angola’s fuel sales volume in the second quarter reached 1.22 million metric tons, marking a 3% increase compared to the previous quarter, according to the Petroleum Derivatives Regulatory Institute (IRDP). The report, released yesterday, highlights that state-owned Sonangol continues to dominate the market with a 62.3% share, followed by Puma Energy (21.9%). The remaining 15.8% is divided among Sonangalp (7.2%), Total Energies Marketing Angola (6.6%), and Etu Energias (1.7%). The data shows a significant 38%

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