Afreximbank Launches Game-Changing $3 Billion African Oil Trade Facility
The African Export-Import Bank (Afreximbank) has unveiled an ambitious $3 billion Revolving Intra-African Oil Trade Financing Program designed to reduce the continent’s dependence on imported petroleum products. This groundbreaking initiative is projected to finance between $10-14 billion worth of intra-African petroleum trade, encompassing premium motor spirit, automotive gas oil, heavy fuel oil, kerosene, and jet […]
OFFSHORE REVOLUTION: AKRAKE SECURES CRITICAL CONTRACTS FOR BENIN OIL FIELD COMEBACK
Game-changing infrastructure deals set stage for production restart at offshore Sèmè Field later this year In a major breakthrough for West African oil production, Rex International Holding’s subsidiary Akrake Petroleum Benin has secured crucial contracts that will resurrect the dormant Sèmè Field offshore Benin. The landmark deals cover the supply of a mobile offshore production […]
4th Edition of the International African Energy, Oil and Gas Summit (IAEOG) Namibia 2025
Register now and be a part of a transformative experience that promises to shape the future of African Energy landscape. To register for the 4th Edition of the International African Energy, Oil and Gas Summit (IAEOG) Namibia 2025 with the Theme: Getting it Right, scheduled to hold from the 4th -10th of August 2025 in Namibia, you can visit our website https://www.iaeogs.com Registration […]
GEIL Starts Commissioning 750,000 Barrel Terminal, Receives Approval to Inject Hydrocarbon
Nigerian independent Green Energy International Limited (GEIL) has reached a significant milestone with the mechanical completion of its 750,000-barrel crude oil capacity onshore terminal, which is now entering the commissioning phase. This development follows approval from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) to introduce crude into the facility, located in Otakikpo in eastern Nigeria. […]
57 Additional Ports to Receive LNG Bunkering Facilities by 2026
The maritime industry is experiencing a shift towards greener operations, with a notable increase in the adoption of liquefied natural gas (LNG) as a marine fuel. This transition is driving demand for LNG bunkering vessels and port infrastructure. By the end of 2026, an additional 57 ports are expected to be upgraded with LNG bunkering […]
NNPC Ltd Nears Public Listing
The Nigerian National Petroleum Company Limited (NNPC Ltd) has announced that it is in the final stages of preparing for an Initial Public Offering (IPO) as part of its compliance with the Petroleum Industry Act (PIA) 2021. Olugbenga Oluwaniyi, NNPC Ltd’s Chief Finance and Investor Relations Officer, disclosed that the company is engaging potential partners […]
Petrol Prices Set to Drop in April
South African motorists may soon enjoy lower fuel prices as international oil prices decline and the local currency strengthens. Economic analysts predict that petrol prices could drop by approximately 85 cents per liter in April. Johann Els, Chief Economist at Old Mutual Group, estimated that current data suggests a petrol price decrease of around 85 […]
Uganda’s $5 Billion EACOP Pipeline Gains Financial Backing
EACOP Ltd has confirmed securing its first allocation of external financing from a group of financial institutions, including Standard Bank, Stanbic Bank Uganda, KCB Bank Uganda, and the Islamic Corporation for the Development of the Private Sector. Uganda’s Energy Minister Ruth Nankabirwa previously sought additional funding from Chinese financiers after Western banks, such as BNP […]
PETROAN Clarifies Dangote Refinery Fuel Transactions
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has stated that Dangote Refinery has not commenced selling petroleum products in U.S. dollars, contrary to speculation. Billy Gillis-Harry, PETROAN President, speaking on Arise Television, noted that members are still purchasing fuel in Naira, Nigeria’s local currency. While Dangote Refinery had announced a temporary suspension […]
AfDB Allocates $331 Million Investment in Lesotho
The African Development Bank (AfDB) has committed $331 million in investments to Lesotho, aimed at bolstering key sectors such as infrastructure and energy. This funding will support the development of energy transmission lines linking the Kingdom with South Africa, alongside initiatives in digital transformation, trade competitiveness, agricultural development, and water resource management. King Letsie III […]