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ExxonMobil signaled that higher refining margins could boost its third-quarter downstream profit by $4.5 billion, even as lower oil prices cut upstream earnings by $1.3 billion.

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.

The $5 billion Africa Energy Bank, set up by APPO and Afreximbank, will start financing projects in 2027 and become operational within weeks, APPO’s secretary general says.

South Africa plans to procure 5 GW of gas-fired power and 4.6 GW of battery storage as the first allocations under its Integrated Resource Plan 2025.

KEY POINTS Dangote Petroleum Refinery and Petrochemicals has extended its initial public offering, IPO, by two weeks to give more investors in Nigeria and across Africa an opportunity to participate …

KEY POINTS The Coalition of Citizens Groups for Good Governance has welcomed the Federal Government’s planned 30-day petrol discount at Nigerian National Petroleum Company Limited (NNPC) stations, describing it as …

KEY POINTS The Nigerian Upstream Petroleum Regulatory Commission, NUPRC, has warned oil and gas companies holding undeveloped assets that they risk losing their licences if they fail to meet their …

KEY POINTS The Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, has sealed two filling stations in Port Harcourt, Rivers State, for dispensing less fuel than motorists paid for during …

KEY POINTS The Federal Government has introduced a 30-day petrol discount through the Nigerian National Petroleum Company Limited, NNPC, with public transport operators set to receive priority as authorities seek …

KEY POINTS The Nigerian National Petroleum Company Limited, NNPC, significantly reduced the amount owed to it by customers in 2025, as the state-owned energy company intensified efforts to recover outstanding …