Africa
Afreximbank rolls out $3-B credit line to cut Africa's fuel imports
African Export-Import Bank has rolled out a $3-B revolving credit line that will enable African and Caribbean buyers to source petrol, diesel, jet fuel and other products from refineries on the continent more easily.
Egypt begins basic design phase for Red Sea Petrochemical Complex project in Ain Sokhna
Egypt's Ministry of Petroleum and Mineral Resources announced the signing of contracts for the Egyptian-Chinese joint venture contractor to implement the basic designs for the first phase of the Red Sea Petrochemical Complex project in Ain Sokhna, Egypt.
Nigeria plans petroleum products stockpile to counter global supply shocks
Nigeria plans to establish a national strategic petroleum products stockpile this year to safeguard its economy against disruptions in the international market.
Angola's Sonangol seeks $4.8 B to bridge Lobito refinery funding gap
Angola's Sonangol is in talks with Chinese and European banks to overcome a $4.8-B funding shortfall for its planned 200,000-bpd Lobito refinery.
Oil and gas investor Afreximbank earmarks $3 B to support locally-refined products
The African Export–Import Bank (Afreximbank), a key investor in oil and gas projects, has earmarked $3 B to finance the purchase of refined products within Africa as part of broader plans to boost refining capacity.
Uganda signs deal with UAE investment firm over 60,000-bpd oil refinery
Uganda signed an oil refinery agreement with UAE-based Alpha MBM Investments for a 60% stake in a crude oil refinery in Kabaale, Hoima District.
Glencore's South African refinery invests in cleaner fuels
Astron Energy, a unit of global commodity trader Glencore, will invest up to 6 B rand ($328 MM) to install new equipment and become compliant with South Africa's cleaner fuel specifications ahead of a 2027 deadline.
U.S. jet fuel imports surge as Nigeria's Dangote refinery pushes barrels west
U.S. jet fuel imports are set to hit a 2-yr high in March after Nigeria's Dangote refinery pushed barrels to North America, which should lower prices of the aviation fuel in the peak summer travel season.
Nigeria's Dangote refinery says it will suspend fuel sales in local currency
Nigeria's huge Dangote petroleum refinery announced on Wednesday that it was temporarily suspending fuel sales in the local naira currency to avoid a mismatch between sales in naira and purchases of crude in dollars.
Gasoline unit at Nigeria's Dangote oil refinery to undergo maintenance in June
Nigeria's Dangote oil refinery will shut its 204,000-bpd gasoline-making unit for 30-d maintenance tentatively expected to start on June 1.
- ITT to acquire SPX Flow for > $4.77 B, expanding leadership in highly engineered components and adjacent flow technologies 12/5
- MOL Group introduces eco-friendly Bag-in-Box packaging for lubricants 12/5
- Russia and India sign deal to build urea plant in Russia 12/5
- U.S. liquid fuels groups announce progress on E15, small refinery exemption reform 12/5
- Million Air and Avfuel bring SAF to Austin, Texas (U.S.) 12/5
- Chinese refiners buy oil from storage, raise output with fresh import quota 12/5
