DMEA - Downstream Middle East & Africa

UAE withdraws from OPEC following years of frustration

The UAE will officially leave the OPEC alliance in May, driven by mounting frustrations over production quotas that constrained its expanded capacity.

Jordan Petroleum Refinery achieves $106mn net profit in 2025

The Jordan Petroleum Refinery Company has approved a 50% cash dividend for shareholders, following solid 2025 financial results that show its strong financial position and stable returns.

Nigeria’s NNPCL crude trading hits five-year high under Ojulari

Nigeria's NNPCL said crude oil trading rose to 1.171mn bpd under Group CEO Bashir Bayo Ojulari, marking its highest level in five years, according to its one-year mandate report

Afreximbank backs new Nigeria refineries to cut fuel imports

The African Export-Import Bank is financing three new refineries in Nigeria as part of efforts to reduce fuel imports, strengthen domestic processing and shield economies from global supply shocks

Iran faces infrastructure damage as US blockade exhausts crude storage

Iran is transferring millions of barrels of crude onto supertankers as a US naval blockade in the Strait of Hormuz and Gulf of Oman restricts its export routes

Nigeria's NUPRC urges local refiners to invest in oil blocks to secure crude supply

Nigeria’s upstream regulator has urged local refiners to invest in oil blocks and secure long-term crude supply agreements to address persistent feedstock shortages and support domestic refining capacity

Kenya fuel import row escalates as One Petroleum defends emergency cargo deal

One Petroleum Limited, a petroleum trading and import company operating in Kenya’s fuel supply market, has defended its role in a disputed emergency fuel shipment, saying it followed official procedures and government instructions

Iraq accelerates energy infrastructure diversification amid Gulf volatility

Iraq is fast-tracking new pipelines to diversify exports, reduce Hormuz dependence and protect revenues after regional disruption exposed the fragility of its southern route

Mozambique, Rwanda most exposed sub-Saharan countries to Middle East conflict shock, S&P says

S&P Global Ratings warns Rwanda and Mozambique are among the African economies most exposed to the Middle East conflict, as rising fuel and fertiliser costs threaten to increase inflation and strain fiscal and external balances.

Botswana-focused Tlou Energy reports first revenue from Lesedi gas project

Tlou Energy, which focuses on CBM gas-to-power projects, has begun generating revenue from its Lesedi gas project in Botswana, marking a key shift towards commercialisation.

NIEC weighs Namibia’s bid to build competitive energy supply chain while advancing towards first oil

Kenya, Tanzania, Uganda explore regional refinery plan with Dangote Group

East African governments are weighing a joint oil refinery at Tanzania’s port of Tanga as part of efforts to strengthen regional fuel supply and reduce dependence on imported petroleum products, Kenyan President William Ruto said on April 23

Nigeria’s Dangote expands upstream operations as global oil supply tightens

Dangote Group has accelerated crude oil production from its Niger Delta assets, as global supply disruptions push prices higher and strain refining operations

US and Iran continue to blockade shipping in the Strait of Hormuz

An Iranian-linked tanker sanctioned by the US appears to have been testing the US’s maritime blockade on the Strait of Hormuz, making its way past the Gulf of Oman and into the Arabian Sea.

Malawi seeks $120mn Afreximbank loan, gold reserve disposal to raise funds to import fuel

Malawi has applied for a $120mn loan and is considering disposing of its gold reserves to raise money to finance fuel imports amid a severe national shortage of the commodity.

ZEN Petroleum lists on Ghana bourse, boosting investor access to energy sector

ZEN Petroleum Holdings PLC has begun trading on the Ghana Stock Exchange, listing 640mn ordinary shares after raising $57.6mn in a book-building exercise.