DMEA - Downstream Middle East & Africa
SABIC avoids $4bn in future losses with decision to divest from assets outside of Saudi Arabia
Saudi Basic Industries Corporation (SABIC) has said that its decision to divest from numerous assets outside Saudi Arabia has helped stem the potential loss of $4bn in the future.
Nigeria’s petrol price war continues into 2026
Nigeria’s petrol price war has continued into 2026 with local retail outlets opting to drop the price of petrol below the N739 ($0.52) recommended by the country’s 650,000 barrels per day (bpd) Dangote refinery.
COMMENT: Instability in Iran bigger threat to global oil markets than Venezuela
The mass demonstrations rocking Iran presents a far more serious risk to global oil markets than the US decapitation of Venezuela, according to note by Kieran Tompkins, Senior Climate and Commodities Economist at Capital Economics.
Niger revokes tanker licences amid Mali fuel blockade by jihadists
Niger has revoked the licences of 33 fuel transport operators and drivers after they refused to deliver petrol to neighbouring Mali, where jihadist attacks on tanker convoys have intensified
Nigeria’s fuel imports fell 54% over two years as Dangote refinery reshaped market, CBN data show
Nigeria’s spending on refined fuel imports fell 54% to $6.71bn in the first nine months of 2025, according to Central Bank data, as subsidy removal and rising domestic refining – led by the Dangote refinery – begin to curb forex outflows.
Nigeria's Dangote Refinery halts petrol imports as supply stabilises, marketers say
Petrol imports into Nigeria have ceased as domestic supply from the Dangote Refinery is now meeting demand, oil marketers said.
Nigeria’s Eterna Plc launches $14.3mn rights issue to fund downstream expansion
Nigeria’s Eterna Plc (NGX:ETERNA) has launched a $14.3mn rights issue to fund retail network expansion, LPG assets and lubricant plant upgrades as fuel market deregulation reshapes the downstream sector.
Iranian firm claims breakthrough in petrochemical technology, IRGC cyber unit reports
Iranian firm claims breakthrough in petrochemical separation technology according to IRGC cyber unit, though claims could not be independently verified and timing raises questions about credibility.
Nigeria LNG accelerates completion of $10bn Train 7 project
Nigeria LNG Limited is intensifying efforts to complete its $10bn Train 7 expansion on Bonny Island
Nigerian billionaire Dangote withdraws petition against ex-NMDPRA chief as ICPC probes continue
Aliko Dangote has withdrawn his petition against former Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) Chief Executive Officer Ahmed Farouk
Nigeria: Afreximbank provides $64mn facility to Levene Energy for Axxela stake
Afreximbank has provided a $64mn acquisition finance facility to Levene to support its purchase of a 30% stake in Axxela Limited, marking the trader’s entry into Nigeria’s regulated midstream & downstream gas infrastructure market.
Nigeria’s oil regulators move to end overlaps as NUPRC, NMDPRA deepen coordination
Nigeria’s oil regulators NUPRC (upstream) and NMDPRA (midstream/downstream) have agreed to bolster coordination to resolve regulatory overlaps, as part of efforts to improve governance, attract investment under the Petroleum Industry Act framework.
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