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Kenya invites Uganda to acquire stake in Kenya Pipeline Company
Kenya has invited Uganda to take a significant stake in the Kenya Pipeline Company (KPC) as part of a plan to expand shared ownership of regional fuel infrastructure.
South Korea’s Hanwha Ocean wins $515mn VLCC order from Africa-based shipper
South Korea’s Hanwha Ocean Co. (KRX:042660) has secured a $515mn contract to build four very large crude carriers (VLCCs) for an undisclosed Africa-based shipping company, the shipbuilder said in a regulatory filing.
Nigeria’s Auditor-General flags $42mn in financial irregularities at NNPCL
Nigeria’s Office of the Auditor-General for the Federation has identified 28 significant financial irregularities linked to the Nigerian National Petroleum Company Limited (NNPCL), involving disputed payments and unverified expenditures.
Nigeria fuel imports surge as government suspends planned 15% import duty
Nigeria recorded a sharp increase in petrol arrivals after the government postponed its planned 15% ad-valorem import duty, with 149,500 metric tonnes (194.35mn litres) entering or scheduled to land at local ports between November 21 and 25.
Egypt secures €53.8mn from AFD and EIB to support Green Sustainable Industry Programme
Rosneft reduces shareholding in Kurdistan pipelines
Russia’s Rosneft has executed a strategic reduction of its shareholding in the Kurdistan Pipeline Co. (KPC), bringing its stake below the critical 50% threshold to insulate the subsidiary from the reach of US sanctions
Petrol price reform aimed at easing budget strain, Iranian minister implies
Iran’s Oil Minister Mohsen Paknejad implicitly acknowledged that the government’s plan to introduce a three-tier petrol pricing system was designed in part to plug a widening budget deficit caused by rising fuel imports.
High Court blocks South Sudan oil sale in BB Energy debt dispute
London-based commodity trader BB Energy has secured an emergency injunction in the High Court in London to stop South Sudan from selling an oil cargo worth more than $20mn, as the group seeks repayment of a $100mn loan.
Uganda’s Hoima refinery project continues to make progress
Uganda’s Hoima refinery project represents a landmark for energy projects in the country, allowing it to get closer to processing its crude reserves domestically instead of importing fuel from abroad.
Nigeria’s fuel marketers warn unpaid transport-cost debts threaten supply stability
Nigeria’s Independent Petroleum Marketers Association (IPMAN) warns that long-overdue reimbursements inherited from the former Petroleum Equalisation Fund are straining marketers and could pressure downstream fuel supply.
Drone attacks on Sudan processing facilities interrupt South Sudan’s crude exports
Crude oil production and exports were temporarily halted in parts of Sudan and South Sudan last week after drone strikes on two separate processing facilities in Sudan.
Turkish LPG carrier set on fire during Russian drone attack
A Turkish LPG carrier docked at the port of Izmail, Ukraine, was hit by a Russian drone during an attack, sparking a fire on the vessel, which has now been extinguished.
Nigeria: Dangote refinery denies video showing motorcycle-based fuel delivery service
Nigeria’s 650,000 barrels per day (bpd) Dangote refinery has moved to deny a viral video that suggested it was distributing petrol across the country using motorcycles, according to The Punch.
South Sudan seeks $2.5bn in oil-backed loans as fiscal and political pressures converge
Iran building new petrochemical hub in Bushehr province as part of North Pars gas development
Plans are under way to establish a new petrochemical hub in the southern province of Bushehr, Deputy Oil Minister for Petrochemicals Hassan Abbaszadeh said.
Iran releases Talara tanker and 21 crew members following STS transfer
Iran releases Talara oil tanker and 21 crew members after six-day detention for fuel smuggling in Persian Gulf waters, following completion of judicial proceedings and cargo discharge.
Iran building new petrochemical hub in Bushehr province as part of North Pars gas development
Plans are under way to establish a new petrochemical hub in the southern province of Bushehr, Deputy Oil Minister for Petrochemicals Hassan Abbaszadeh said.
Iran police say fuel smuggling far higher than official estimates as daily losses top $9mn
Iran’s top economic-security official warned on November 18 that fuel smuggling was draining more than 21mn litres of petrol and diesel per day—worth around $9mn—while the real volume was likely “far higher.”
Syria receives 650,000 barrels of crude oil under Saudi grant
Tanzania’s Taifa Gas cleared to build major LPG terminal in Kenya after court ruling
Nigeria targets rollout of 500 proposed CNG stations, MDGIF says
Nigeria plans to roll out up to 500 CNG stations over three years in a bid to cut petrol dependence and expand gas-mobility options.
Turkey’s LPG imports rise 16% y/y in Sept
Turkey’s liquefied petroleum gas (LPG) imports moved up by 16.4% y/y to 286,885 tonnes in September, according to the LPG Market Sector Report published by the Energy Market Regulatory Authority (EPDK).
Syria’s Homs refinery to remain operational until new Furqlus plant is completed
The director general of Syria’s General Company for the Homs Refinery, Khaled Mohammad Ali, has confirmed that the refinery will continue operating and will not be shut down until the new refinery in Furqlus is entirely constructed and brought online
Nigeria launching equity fund to boost local oil & gas firms in shift to long-term energy sector investment
The Nigerian Content Equity Fund (NCEF), a new investment vehicle to provide long-term capital for indigenous oil and gas firms, will be managed by the Bank of Industry.
Nigeria scraps 15% fuel import duty plan amid supply concerns
Nigeria has withdrawn a planned 15% import duty on petrol and diesel following warnings from fuel marketers that the measure could restrict imports and disrupt supplies ahead of the festive period
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