DMEA - Downstream Middle East & Africa
The Nigeria National Petroleum Company Ltd. (NNPCL) has announced that it will supply the country’s 650,000 bpd Dangote refinery with around six cargoes of crude oil in December to be used in trial runs, according to three industry sources.
Uganda has dropped an oil deal with Kenya in favour of working with contracted bulk and refinery suppliers to purchase cheaper petroleum products.
Saudi Arabia and Russia this week confirmed that they will extend their additional voluntary oil production restraint until the end of the year.
Libya is seeking to localise its biofuel industry by introducing an ambitious project involving domesticating biofuel production by planting 40mn Jatropha trees across several Libyan municipalities.
Two recent decisions by Saudi Arabia have seemingly indicated a point of concern over the state of oil demand, despite indicating a steady crude oil market outlook overall.
Nigeria’s federal government has stated that it will cancel modular refinery licences that have remained idle.
Oil prices defy analysts’ expectations and fall rather than rise after the outbreak of the Israeli-Hamas war
The oil price defied analysts’ expectations and fell rather than rose after the outbreak of the Israeli-Hamas war on October 7. A month later, despite a 3.7% drop in the price of a barrel of Brent, its value has returned to pre-war levels.
Moroccan King Mohammed VI reiterated Morocco’s commitment towards the ambitious $25bn (€23.4bn) gas pipeline project with Nigeria and said the project’s benefits will extend to European countries in terms of more energy supplies.
Surprise news of a new trunkline connecting Federal Iraqi infrastructure with a gas field in the Kurdistan Region comes as Baghdad reaches across the divide
Uganda has initiated a move to nationalise the importation of petroleum products towards stabilising supply, bringing down retail prices, and ending its reliance on neighbouring Kenya.
Helium One said in an update that drilling reached a depth of 1,448 metres and encountered a geological basement, a development that confirms the presence of weathered crystalline formations.
Egypt’s import bill for hydrocarbons and their by-products dropped by 15% y/y to $8.35bn (€7.8bn) in the first eight months (January-August) 2023/2024, mostly affected by falling imports of crude oil and refined petroleum products.
Iran has drawn up a comprehensive plan to conserve energy through a range of efficiency and saving measures that can potentially slash its daily consumption by half, the CEO of the Iranian Fuel Conservation Co (IFCO) said.
The head of the National Iranian Oil Co. (NIOC) said there were ample opportunities up for grabs for foreign investors in Iran’s energy sector.
Iran has broken ground in the western Kurdistan province on an $802mn petrochemical plant with an annual production capacity of 1mn tonnes. The factory is expected to be up and running within the next three and a half years.
The winds of change are blowing through Iran's energy sector with renewable sources taking centre stage. The country's energy ministry recently announced plans to build wind parks with a combined output capacity of 3,000 MW.