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In a region which has shown both extensive investment and increased instability over the past few years, MEA merits a significant degree of technically minded and industry-focused coverage.
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Escalated tensions in Port Sudan to affect South Sudan’s resumed oil exports
Drone attacks and escalated struggles in Port Sudan are expected to affect South Sudan’s main oil exports, a few days after the country announced the repair of its oil pipeline. Port Sudan is currently under attack by Sudan’s paramilitary RSF.
Iranian methanol exports to China under threat
Iran’s methanol exports to China are under threat following warnings from the US of yet more sanctions on Iranian oil and petrochemical buyers amid nuclear talks, according to Bloomberg.
Nigerian Warri refinery staff shut down operations over ‘workplace slavery’
Support workers of the Warri Refining and Petrochemical Co. (WRPC) in Nigeria’s Delta State have staged a protest against alleged “workplace slavery,” halting all operations at the 125,000bpd plant on May 5.
Biofuel production needs $1bn investment, says Wood Mackenzie director
Increasing the production of biofuels will require investment of around $1bn, according to Ian Simm, director at Wood Mackenzie, who spoke at the Caspian and Central Asia Oil trading and logistics forum in Baku last week.
US targets more firms, vessels over Iran petchem sales
The United States slapped sanctions on seven Iranian and foreign entities involved in Iran’s petroleum and petrochemical trade, in a fresh push to tighten the screws on Tehran’s revenue streams.
Explosion kills five at illegal fuel storage site, Nigeria
Five people have been killed in an explosion at an illegal refinery in Rivers State, Nigeria, on April 26 after a fire ignited in an area where illegally refined fuels were stored.
Wanhua Chemical, Kuwait's PIC sign equity subscription agreement
Kuwait Petroleum Corporation and Wanhua Chemical Group Co. Ltd’s subsidiary Petrochemical Industries Company has signed an equity subscription agreement (ESA) that will see the company purchase a 25% equity stake.
Iran’s petchem sector to grow this year despite feedstock shortage, top official says
Iran is doubling down on its petrochemical industry as a lifeline for foreign currency earnings, with officials forecasting an almost 20% surge in exports this year despite persistent feedstock constraints.
Ghana’s oil output stalls despite near-record production, PIAC warns of sectoral decline
Ghana narrowly missed matching its 2023 crude oil output by just 0.01%, equivalent to 7,000 barrels, according to the latest annual report by the Public Interest and Accountability Committee (PIAC).
Afreximbank launches $3bn revolving credit programme for intra-African petroleum imports
The African Export-Import Bank (Afreximbank), a pan-African multilateral financial institution, has launched a $3bn Revolving Intra-African Oil Import Financing Programme.
Planned petrol output lags behind growing demand, says Iranian deputy oil minister
A senior Iranian oil official warned that petrol consumption in Iran was galloping ahead of supply, casting doubt on whether the government’s current fuel production targets can keep up with soaring demand.
Nigeria’s Dangote refinery denies closing petrol unit for maintenance
Nigeria’s 650,000 barrels per day (bpd) Dangote refinery has denied shutting down its petrol processing unit for maintenance despite a report by Bloomberg claiming that it was undergoing maintenance on April 25.
NNPCL faces criticism over refinery shutdowns and operational failures
The Nigerian National Petroleum Company Limited (NNPCL) is facing growing criticism from industry figures and experts regarding its operational integrity.
Iran ready to export petrochemicals to Africa
Iranian first vice president Mohammadreza Aref has revealed that the country is ready to export petrochemicals to Africa to aid industrial growth on the continent in a speech at the third Iran-Africa Economic Cooperation Conference.
OPEC+'s rise in oil output could trigger sharp fall in oil prices in 2027-28: Alfa Bank
OPEC+'s plans to raise oil production amid the US’ new protectionist trade policies could lead to a sharp decline in Brent crude prices in 2027-2028.
Ethiopia eyes Iranian petchem know-how to launch urea plant
Ethiopia is willing to use Iranian engineering expertise, equipment, and petrochemical know-how to build a urea production plant.
US attacks Ras Isa oil terminal, Yemen
US forces have struck a vital oil terminal in Yemen killing around 74 and wounding numerous others, according to a report released by the Houthis on April 18.
Turkey’s Ronesans closes financing for $2bn polypropylene production plant in Ceyhan
Turkey’s Ronesans Holding has announced in a press release that it has closed the financing required to push ahead with the development of a $2bn polypropylene (PP) petrochemical production plant and sea terminal facility in Ceyhan.
Ghana provides update on oil and gas investment opportunities at Invest in African Energies: Accra Briefing
The Invest in African Energies: Accra Briefing on April 14 provided an update on the latest developments in Ghana’s oil and gas sector, highlighting upstream and downstream strategic investment opportunities.
Gunvor, ADNOC reportedly shortlisted to buy Shell’s downstream assets in South Africa
The UAE’s Abu Dhabi National Oil Company (ADNOC) and Swiss energy commodities trader Gunvor are among companies that have been shortlisted to buy British energy supermajor Shell’s downstream assets in South Africa.
Nigerian fuel marketers head towards obsolescence as local refining picks up
Nigerian oil marketers are set to potentially lose around N14bn ($8.7mn) following 650,000 barrels per day (bpd) Dangote refinery’s decision to cut petrol prices last week, according to Punch.
Chinese-Egyptian JV to design Red Sea petrochemicals complex
A joint venture (JV) consisting of Chinese and Egyptian companies has signed an agreement for the preliminary design of the first phase of the Red Sea Petrochemicals Complex project, set to be constructed at Ain Sokhna in the Gulf of Suez.
NNPCL cuts petrol price to $0.58 per litre in Abuja, Nigeria
The Nigerian National Petroleum Co. Ltd. (NNPCL) has lowered the price of petrol in Abuja following an announcement from 650,000 barrels per day (bpd) Dangote refinery.
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