Oil and Gas
Top stories
News of the proposed IPO has generated excitement among investors, fund managers and policymakers. Supporters believe it could deepen liquidity in Nigeria’s capital market and attract fresh domestic and foreign investment.
The Dangote Petroleum Refinery is seeking to raise $1 billion from institutional investors through a private placement that values the facility at $39.1 billion.
China’s Hengli Petrochemical has purchased at least 2 million barrels of West African crude as it moves to replace Iranian oil supplies following US sanctions imposed on the company.
Dangote Petroleum Refinery has begun construction on a second unit adding 700,000 bpd, targeting 1.4 million bpd total capacity by 2028 and positioning Nigeria as a regional fuel exporter.
South Africa’s retail petrol price is set to reach a record high this month after the government began withdrawing temporary tax relief measures that had cushioned consumers against fuel cost increases.
Petrol now costs Nigerians over N1,300 per litre. The Dangote refinery was supposed to change that. It has not. And the government has said almost nothing.
Ghana beat the odds and crushed inflation faster than any country in Africa. Now a global oil shock is coming for everything it built. How long can it hold?
Nigerian billionaire Aliko Dangote is considering Kenya as the location for a proposed 650,000-barrel-per-day oil refinery in East Africa.
Dangote wants to build his next mega-refinery in East Africa. But Uganda, Kenya, and Tanzania already have rival plans — and the politics are just as tangled as the pipelines.
Cameroon is moving to secure its fuel supply by strengthening ties with Nigeria’s Dangote Refinery, as concerns mount over potential disruptions linked to tensions in the Middle East.
Sierra Leone has signed a $225 million petroleum licence agreement with Nigeria-based Marginal Energy Limited, granting the firm rights to explore and develop offshore oil blocks as the country intensifies efforts to attract investment.
The president of Kenya, William Ruto, has proposed the development of a jointly-owned oil refinery with Uganda in Tanga, historic port city in Tanzania, to serve multiple East African countries.
Africa’s richest man, Aliko Dangote, is in discussions with Kenya and Uganda over plans to build a Nigeria-style oil refinery in Tanzania, as the East African countries move to reduce reliance on imported petroleum products.
Nigeria has approved a $10.3 billion investment plan by Italian energy company Eni for deepwater oil projects offshore the country, clearing the way for long-delayed developments on the Zabazaba and Etan fields.
Nigeria and Libya are Africa’s leading oil producers. For nearly a decade, Nigeria has held the top position, with Libya consistently close behind. However, recent trends suggest this long-standing order may be shifting.
Sierra Leone has signed a reconnaissance permit agreement with Shell Plc, allowing the company to carry out advanced geological and geophysical surveys across multiple offshore blocks.
Oil-rich Gabon is expected to sign production-sharing contracts with British Petroleum (BP) Plc and ExxonMobil within the next four to six months as authorities move to advance offshore exploration plans.
Algeria has launched a new licensing round aimed at attracting international investors into its oil and gas sector, offering seven exploration blocks as it seeks to boost upstream activity and secure new hydrocarbon resources.
Nigeria is Africa’s top oil producer, meaning the recent spike in oil prices could provide a revenue boost. However, its current domestic economic conditions suggest it may not benefit as much as it did during the last oil boom.
Africa’s richest man, Aliko Dangote, is planning to sell about 10 per cent of his oil refinery through an initial public offering that will be marketed across multiple African countries.
