Latest Stories
Nigerian navy dismantles illegal refinery in Rivers and seizes 3,950 litres of stolen fuel
The Nigerian Navy has dismantled a reactivated illegal refinery and seized about 3,950 litres of suspected stolen petroleum products in Calabar as part of intensified operations against crude oil theft under Operation DELTA SENTINEL
Nuclear power seen as strategic bridge in Africa’s just energy transition - AEC
Africa is emerging as an important player in the global clean energy transition, driven by tighter international emissions rules and rising demand for low-carbon fuels.
Another Russian Arc7 begins sea trials
Russia’s newest ice-class LNG carrier, the Arc7 tanker Konstantin Posyet, has likely begun sea trials.
US allows Russian oil to flow amid Hormuz crisis
The US has temporarily authorised transactions involving Russian oil already loaded onto tankers, allowing sales of the cargoes until April 11 amid supply disruptions linked to the conflict in the Middle East.
Discounts on Russia’s Urals blend oil fall to zero
Russia is poised to reap a major financial windfall from rising global oil prices due to the war in the Gulf, after the discounts on the Urals blend of oil fell to zero in the last week
Nigeria’s NNPCL remits full PSC profit oil to Federation Account after Tinubu directive
Nigeria’s state oil company remitted NGN121.343bn ($88.47mn) in Production Sharing Contract (PSC) profit oil proceeds to the Federation Account in February
Togo seeks increased electricity imports from Nigeria
Togo is seeking to increase electricity imports from Nigeria’s Niger Delta Power Holding Company (NDPHC) as rising industrial consumption and expanding grid access place growing pressure on the country’s power system
Swiss court upholds Naftogaz's $1.3bn claim against Gazprom
A Swiss court upheld an arbitration ruling ordering Russia’s Gazprom to pay $1.3bn to Ukraine’s Naftogaz over a gas transit contract on March 12.
Nigerian clean energy firm Starsight secures $15mn BII financing for regional expansion
Starsight Energy Africa Group has secured $15mn in mezzanine debt from British International Investment to expand solar energy projects for commercial and industrial clients in West Africa.
Invictus Energy posts $2.8mn loss as Zimbabwe Cabora Bassa exploration spending rises
Invictus Energy Ltd (ASX:IVZ) reported a half-year net loss of $2.8mn as it continued funding exploration at Zimbabwe’s Cabora Bassa Project, with capitalised exploration spending rising to $85mn and cash reserves declining to $3mn.
IEA releases details of historic oil reserves release member shares
The International Energy Agency released details of the contribution by members to the “largest release of oil reserves in history” that it announced on March 11 to calm the oil market and bring down prices.
Pemex's Deer Park refinery logs second straight annual loss despite operational rebound
Drone strike hits Fujairah oil hub in UAE
A drone struck the Fujairah oil industries area, local authorities confirmed, forcing the suspension of oil loading operations.
Sempra's Vista Pacífico LNG project dies after regulatory rejection and environmental opposition
Israel's gas sector crippled by ongoing war
Israel's natural gas sector has been severely disrupted by the ongoing war with Iran and Hezbollah in Lebanon, with both the Leviathan and Karish offshore rigs remaining out of operation for more than two weeks.
France’s Proparco commits $15mn to African climate infrastructure fund with $200mn fundraising target
France's Proparco has committed $15mn to the African Transition Acceleration Fund, a new $200mn pan-African vehicle managed by African Infrastructure Investment Managers that aims to finance early-stage climate infrastructure.
Why Europe's gas price cap plan will backfire
Brussels is again considering a cap on gas prices to shield consumers from soaring energy costs, but the policy risks weakening Europe’s ability to attract LNG cargoes just as the bloc faces a difficult storage refill ahead of next winter.
Nigeria launches petroleum reform taskforce to unlock up to $10bn investment, overhaul sector
Nigeria has established a presidential petroleum reform taskforce tasked with unlocking up to $10bn in sector investment and developing a 10-year national energy transformation strategy aimed at boosting production, FX earnings and competitiveness.
Japan weighs options to protect vessels in Strait of Hormuz
Speaking during a session of the House of Councillors Budget Committee, Takaichi addressed calls from Donald Trump for other countries, including Japan, to dispatch warships to the Strait of Hormuz to safeguard oil shipments.
Greek tanker set to load Kazakh oil hit by object near CPC terminal
A Greek-flagged oil tanker, the Maran Homer, was reportedly struck by an unidentified object early on March 14 while it awaited instructions on entering the Caspian Pipeline Consortium (CPC) terminal at the Russian Black Sea port of Novorossiysk.
Japan begins release of strategic oil reserves
Japan has begun releasing oil from its reserves as the government seeks to mitigate the impact of the effective closure of the Strait of Hormuz by Iran following US-Israeli strikes on the country.
Tanzania urges TPDC to accelerate oil and gas projects to boost economy
Tanzania’s government has instructed the Tanzania Petroleum Development Corporation (TPDC) to ensure ongoing oil and gas projects are delivered on schedule, with a focus on maximising their contribution to national development
Philippine drivers threaten strike as diesel nears $2
Public transport drivers in the Philippines plan a nationwide strike beginning March 19 as rising fuel prices squeeze incomes and push operating costs sharply higher.
Czechia secures preliminary deal for 1.4bcm of gas a year from the US
Czechia secured a long-term agreement for 1.4bcm of gas a year reserved in the USA, according to the Minister of Industry and Trade Karel Havlíček of the Ano party of Prime Minister Andrej Babiš.
Follow us online