DMEA - Downstream Middle East & Africa
Explosion kills five at illegal fuel storage site, Nigeria
Five people have been killed in an explosion at an illegal refinery in Rivers State, Nigeria, on April 26 after a fire ignited in an area where illegally refined fuels were stored.
Wanhua Chemical, Kuwait's PIC sign equity subscription agreement
Kuwait Petroleum Corporation and Wanhua Chemical Group Co. Ltd’s subsidiary Petrochemical Industries Company has signed an equity subscription agreement (ESA) that will see the company purchase a 25% equity stake.
Iran’s petchem sector to grow this year despite feedstock shortage, top official says
Iran is doubling down on its petrochemical industry as a lifeline for foreign currency earnings, with officials forecasting an almost 20% surge in exports this year despite persistent feedstock constraints.
Ghana’s oil output stalls despite near-record production, PIAC warns of sectoral decline
Ghana narrowly missed matching its 2023 crude oil output by just 0.01%, equivalent to 7,000 barrels, according to the latest annual report by the Public Interest and Accountability Committee (PIAC).
Afreximbank launches $3bn revolving credit programme for intra-African petroleum imports
The African Export-Import Bank (Afreximbank), a pan-African multilateral financial institution, has launched a $3bn Revolving Intra-African Oil Import Financing Programme.
Planned petrol output lags behind growing demand, says Iranian deputy oil minister
A senior Iranian oil official warned that petrol consumption in Iran was galloping ahead of supply, casting doubt on whether the government’s current fuel production targets can keep up with soaring demand.
Nigeria’s Dangote refinery denies closing petrol unit for maintenance
Nigeria’s 650,000 barrels per day (bpd) Dangote refinery has denied shutting down its petrol processing unit for maintenance despite a report by Bloomberg claiming that it was undergoing maintenance on April 25.
NNPCL faces criticism over refinery shutdowns and operational failures
The Nigerian National Petroleum Company Limited (NNPCL) is facing growing criticism from industry figures and experts regarding its operational integrity.
Iran ready to export petrochemicals to Africa
Iranian first vice president Mohammadreza Aref has revealed that the country is ready to export petrochemicals to Africa to aid industrial growth on the continent in a speech at the third Iran-Africa Economic Cooperation Conference.
OPEC+'s rise in oil output could trigger sharp fall in oil prices in 2027-28: Alfa Bank
OPEC+'s plans to raise oil production amid the US’ new protectionist trade policies could lead to a sharp decline in Brent crude prices in 2027-2028.
Ethiopia eyes Iranian petchem know-how to launch urea plant
Ethiopia is willing to use Iranian engineering expertise, equipment, and petrochemical know-how to build a urea production plant.
US attacks Ras Isa oil terminal, Yemen
US forces have struck a vital oil terminal in Yemen killing around 74 and wounding numerous others, according to a report released by the Houthis on April 18.
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