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Nigerian government orders NNPCL to refund $145.6bn to federation account
The Nigerian Senate has ordered the Nigerian National Petroleum Co. Ltd. (NNPCL) to refund N210 trillion ($145.6bn) to the federation account, according to Sahara Reporters.
Iraq’s SOMO reports fuel imports at 656,000 tonnes in Q3 2025
Iraq imported nearly 657,000 tonnes of petroleum products in the third quarter of 2025, The bulk of the imports consisted of gasoline, which totalled 396,475 tonnes with 37% decline compared with the third quarter of 2024.
Ghana Oil Company’s profit up 40% y/y in first nine months of 2025 despite Q3 revenue dip
Iran mulls three-tier fuel pricing plan amid soaring import costs
The Iranian government is considering a three-tier pricing scheme for petrol, its spokeswoman said on November 12, as the country’s fuel import bill has doubled this year.
UAE: TA'ZIZ signs petchem supply deal with India’s Sanmar Group
TA’ZIZ has announced the signing of two-product sale agreement term sheets with India’s Sanmar Group, a global manufacturer of specialty chemicals.
AEC to host G20 African Energy Investment Forum ahead of G20 Summit in Johannesburg
The African Energy Chamber (AEC) will host the G20 African Energy Investment Forum ahead of the G20 Summit in South Africa.
Iraq boosts oil exports to India as Saudi supplies to China decline
Iraq is set to increase its crude oil exports to India next December, as Asian oil markets undergo a reshuffle amid declining Saudi supplies to China for the second straight month
Nigeria’s marketers consider halting petrol imports after Dangote price cut, new 15% import duty
Nigeria’s petroleum marketers are considering suspending fuel imports after the Federal Government introduced a 15% import duty and Dangote Refinery cut its petrol price.
Nigerian crude earnings fell 43% in 2024 despite higher output
Data from Nigeria’s Budget Implementation Report for Q4 2024, published this week, has shown that profits from the country’s oil and gas sales plummeted by 43% in 2024, despite production increasing on average.
South Africa: Industry condemns government silence over looming gas crisis as Sasol offers interim fix
The Industrial Gas Users Association of South Africa (IGUA-SA) has once again voiced its concerns about the impending “gas cliff” and the government’s inaction in addressing the supply shortage.
Saudi Arabia's Kingdom Holding reports SAR794.5mn net profit, up 129%
Saudi Arabia's Kingdom Holding reports SAR794.5mn ($212mn) Q3 net profit, up 129% year-on-year. Total comprehensive income reaches SAR3.228bn ($861mn), up 111.5%.
South Sudan’s president reverses petroleum ministry reshuffle amid heightened export security risks
South Sudan's petroleum ministry undersecretary has been reinstated a week after his removal. The move comes amid Sudan's warning that continued RSF drone attacks near key infrastructure could force a shutdown of the pipeline to Port Sudan.
Nigeria’s NNPCL moves towards minority-stake operations model, reiterates it will not sell refineries
Nigerian National Petroleum Company Limited (NNPCL) plans to pursue strategic operating partnerships in which it retains a minority shareholding, while external partners take over technical and managerial control.
France urges citizens to leave Mali as fuel blockade deepens crisis
France has urged its citizens to leave Mali as an al-Qaeda-linked blockade of fuel supplies worsens, causing acute shortages, extensive power cuts and increasing security risks across the country
Ghana’s StarOil eyes stock exchange listing to fund expansion drive
StarOil is weighing a potential listing on the Ghana Stock Exchange (GSE) as part of a broader strategy to raise capital and cement its dominance in the petroleum sector, CEO Philip Tieku said.
ADNOC’s trading arm and drilling subsidiary plans expansions
ADNOC is leveraging efforts across global commodity trading upstream services to maximise value
Genesis Energy and Nigerian National Petroleum Company partner to supply excess power to national grid
Genesis Energy and the NNPCL have entered into a partnership to supply excess electricity from the Port Harcourt Refining Company to the national grid, in a move aimed at reducing energy shortages and improving grid reliability.
Turkey arrests directors of fuel retailer TP after SOCAR complaint
Police describe around 18,500 tonnes of fuel as "missing".
Nigeria: NNPCL considers increasing equity stake in Dangote refinery to 20%
The Nigerian National Petroleum Co. Ltd. (NNPCL) said on November 6 that it planned to increase its equity stake in the $20bn Dangote refinery to 20%.
Nigeria’s Senate adopts interim report alleging $200bn worth of crude oil revenue discrepancies
Nigeria: Dangote lawsuit dismissed by court
Nigeria’s Federal High Court has dismissed a suit filed by 650,000 barrels per day (bpd) Dangote refinery in November 2024.
Nigeria seeks IMF support to design fuel price modulation framework
Nigeria has requested technical assistance from the International Monetary Fund (IMF) to establish a fuel price modulation framework aimed at cushioning domestic price shocks and supporting fiscal stability
SABIC sees pressure on profit margins due to petchem overcapacity
Saudi Basic Industries Corp. (SABIC) CEO Abdulrahman Al-Fageeh said this week that global overcapacity in the petrochemicals industry had put pressure on profit margins, leading to reduced operating rates.
India’s Bharat Petroleum buys Emirati crude following sanctions on Russia
Bharat Petroleum has purchased a cargo of Emirati Upper Zakum crude as it attempts to circumvent sanctions on its usual crude supplier based in Russia, according to Reuters.
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