DMEA - Downstream Middle East & Africa
The Nigerian House of Representatives ad hoc Committee investigating the alleged loss of over $2.4bn in revenue from the illegal sale of 48mn barrels of crude in 2015 has summoned Minister of Finance Zainab Ahmed and Attorney General Abubakar Malami.
Nigeria’s Human Environmental Development Agenda (HEDA) has urged the country’s government to prioritise the eradication of corruption and rehabilitation of domestic refineries before removing fuel subsidies.
Iraq is seeking to enforce an arbitration award against Turkey relating to oil exports through a pipeline to a Turkish port, according to documents filed with a US federal court.
Russia has commenced fuel exports to Iran by rail this year for the first time, after traditional buyers opted to avoid trade with Moscow. Iran and Russia, both under Western sanctions, are forging closer ties to support their economies.
Kenya to build LPG bulk storage facility as part of introducing Open Tender System (OTS) for imports
Tatneft has bought a chain of over 570 gas filling stations in Turkey for $320mn, representing a rare acquisition for the Russian oil company abroad in the last year.
Felix Egypt, a subsidiary of Felix Industries India, has committed to invest $110mn over two years to build a polyethylene factory in El Sokhna Industrial Zone. The facility is planned to have 30,000 tonnes of capacity monthly.
Exports of Iraqi crude to Jordan halted last week despite the Iraqi Cabinet having approved the renewal of the mechanism under which oil had been trucked across the border since 2021.