Saudi Arabia eyes 25-year Cape Town port concession as Gulf investment in Africa’s logistics sector gathers pace
Saudi Arabian ports operator Red Sea Gateway Terminal (RSGT) is considering bidding for a 25-year concession to refurbish and operate a terminal […]
Libya moves closer to 2 million barrels a day as US-backed budget opens Africa’s largest crude reserves to American firms
Libya is moving closer to its goal of producing 2 million barrels of oil per day by the start of the next […]
Chinese mining giants hit back at claims their cobalt contains excessive uranium after DR Congo bars them from exporting copper and cobalt concentrates
The Union of Chinese-Capital Mining Companies in the DRC, known by its French acronym USMCC, has rejected allegations that cobalt products from […]
Angola Confirms New Offshore Oil and Gas Reserves With Katambi-2 Well
Angola’s state-owned oil firm Sonangol and its partner in an exploration block offshore Angola, ANPG, successfully drilled an appraisal well that showed […]
Aramco Deepens Asia Oil Discount Ahead of Possible Hormuz Deal
Saudi Arabia cut the price of its flagship crude for Asian buyers again as hopes of a deal to move more tankers […]
Kenya seeks $450 million World Bank lifeline as Iran war and El Niño threaten its economy
Kenya is seeking about $450 million in emergency financing from the World Bank to shield its economy from mounting external shocks, including […]
Hormuz Bottleneck Pushes Indian Refiners Toward West African Grades
Several Indian refiners have recently bought crude from Oman and West Africa via tenders, trade sources told Reuters on Wednesday, as term […]
Hormuz Tanker Traffic Remains Subdued Despite Reports of Peace Talks
Five tankers passed through the Strait of Hormuz yesterday, with three of them entering the waterway and two exiting, Reuters reported earlier […]
Africa’s top oil producer unlocks $3 billion and frees more crude for export with $4.5 billion state oil company refinancing
The National Economic Council (NEC) approved the refinancing of the company’s Project Gazelle facility on Monday, allowing NNPC to replace the remaining […]
Tanker Traffic Remains Subdued Despite Trump’s Talk of Peace
Tanker crossings in the Strait of Hormuz and Bab el-Mandeb remained subdued at the start of this week despite reports about potential […]
Oil prices rebound to $85 as Middle East supply concerns persist
Oil prices rebounded by over 1 percent on Tuesday after tumbling in the previous session, as renewed concerns over potential supply disruptions […]
Georgia’s Kulevi Refinery Replaces Russian Crude With Kazakh, Libyan Oil
Georgia’s only oil refinery has begun replacing Russian crude with supplies from Kazakhstan and Libya as owner Black Sea Petroleum races to […]