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Pakistan, Iran to resume talks over stalled gas pipeline
Pakistan and Iran will resume discussions in the forthcoming weeks to revive a troubled gas pipeline project, amid a looming deadline that could cost Islamabad billions of dollars in penalties.
AfrOil: NNPCL to commission AKK gas pipeline in December
DMEA: Iraq’s North Refinery to begin operations in 2024
Nigeria’s Seplat reveals plan for $250mn gas plant in Delta State
Seplat has unveiled plans to invest $250mn in the construction of a state-of-the-art gas plant in Sapele, Delta State.
Vitol’s Petrol Ofisi strikes deal to acquire BP’s petrol station operations in Turkey
African countries move towards CNG adoption
Natural gas-powered vehicles have become an increasingly popular alternative to their fossil fuel counterparts across Africa due to the introduction of supportive policies, investor appeal and infrastructure development.
Iraq’s North Refinery to begin operations in 2024
Iraq’s 150,000 barrels per day North Refinery is anticipated to start trial runs in March 2024, according to comments made by an official spokesperson of the planning ministry.
Nigeria grants Dangote licence to refine 300,000bpd of crude
Nigeria’s 650,000 barrels per day (bpd) Dangote refinery has secured a license allowing it to refine more than 300,000bpd of Nigerian crude oil and is moving to begin processing gasoline shortly.
Egypt to raise petchem, fertiliser exports to African states
Egypt is set to increase exports of petrochemicals and fertilisers by 10% to African countries in 2024 according to an announcement made on November 12 by Khaled Abul-Makarem
Kenyan government introduces temporary fuel subsidy
The Kenyan government has intervened to subsidise fuel prices in a bid to stop them rising to Ksh300 ($1.97) per litre.
Iran cancels contentious petchem project over environmental concerns
Iran’s Oil Ministry has withdrawn its agreement to a controversial petrochemical plant in the northern Mazandaran province.
DMEA: Libya discusses domestic biofuel production
What is pushing oil price down?
The price of crude oil has fallen 6.6% in the week ending November 10, with Brent closing below $80 a barrel for the first time since July. Only a few months ago analysts were predicting triple-digit prices. Now that looks like a dream.
Nigeria and Saudi Arabia forge strategic partnership in oil sector
Nigeria starts up Dangote with domestic oil
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 reduces reliance on Kenyan oil
Uganda has dropped an oil deal with Kenya in favour of working with contracted bulk and refinery suppliers to purchase cheaper petroleum products.
Saudi, Russia to stick with voluntary output cuts
Saudi Arabia and Russia this week confirmed that they will extend their additional voluntary oil production restraint until the end of the year.
Libya discusses domestic biofuel production
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.
Saudi Arabian decisions point to oil demand concerns
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 states it will cancel idle modular refinery licences
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 says country committed to finalising $25bn African gas pipeline project
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.
Iraqi pipeline talks continue as gas link is completed
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 moves to nationalise fuel imports to secure supply, cut costs, end reliance on Kenya
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.
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