In the News

Brent edged lower to $109.55 on Monday as profit-taking offset Houthi attacks on Saudi energy sites and a steep fall in Gulf crude flows through Hormuz.

Oil slipped from a five-month high on Monday, with Brent at $107.57, as Trump’s Russia sanctions waiver raised hopes of more supply despite Hormuz disruptions.

KEY POINTS Dangote Petroleum Refinery and Petrochemicals has attracted investors from 51 of Africa’s 54 countries as its initial public offering, IPO, draws strong demand across the continent and from …

KEY POINTS ExxonMobil expects higher refining margins to significantly increase its downstream earnings in the third quarter of 2026, with the oil major signalling a potential $4.5 billion improvement compared …

Emerging economies have spent about $235 billion on Chinese clean energy technology since 2024, outspending the rest of the world on grids, solar and cooling.

Ebenco Global Link’s 30,000 bpd modular refinery in Koko, Delta State, has regulatory approval to introduce hydrocarbons and begin a 90 day reliability test.

Oil prices steadied on Friday and headed for weekly gains, with Brent at $105.92, as Middle East ship attacks and a US stock draw outweighed an IEA diesel release.

Algeria’s ALNAFT is offering seven onshore blocks at African Energy Week, with more than 50 companies registered and bids due in January.

KEY POINTS TotalEnergies has reaffirmed its long-term commitment to Nigeria, citing fresh investments in gas development, efforts to reduce emissions and more than six decades of operations in the country’s …

KEY POINTS South Africa’s state-owned electricity utility, Eskom, is preparing for a major transformation as the country moves towards a more competitive electricity market, ending more than a century of …