Africa
Business Trends: Africa—Will increasing demand spark downstream capacity builds?
Over the past decade, Africa’s oil demand has increased by more than 1 MMbpd, to nearly 3.9 MMbpd. Africa’s oil production is more than double the amount it consumes, but lack of investment, failing infrastructure and inadequate refining capacity force the continent to rely on imports to satisfy increasing fuel demand.
Industry Perspectives: Global petrochemical sector to see robust growth to 2020
The global petrochemical sector will continue to see strong growth through the end of the decade, despite a decrease in new project announcements. The crash in energy markets has shifted the industry’s mindset from bullish to optimistic.
Nigerian lawmakers to investigate $17-B subsidies received by state oil firm
ABUJA (Reuters) -- Nigeria's upper house of parliament will investigate allegations the state oil company illegally inflated funds it collected from an official subsidy scheme to $17 billion between 2006 and 2015, lawmakers said on Wednesday.
Oiltanking MOGS Saldanha to begin construction of crude oil, blending terminal in South Africa
CAPE TOWN, South Africa -- Oiltanking MOGS Saldanha Ltd, a JV between Oiltanking GmbH and MOGS Ltd, announced the construction of an independent crude oil and blending storage terminal in Saldanha Bay.
Vopak, Reatile announce terminal expansion in South Africa
Royal Vopak and its partner Reatile announce that the investment decision has been taken to further expand their activities in South Africa. In line with previous expansions this investment aims to enhance Vopak's infrastructure to help meet South Africa's increasing demand for petroleum products.
Moroccan refiner Samir receives 20 offers from foreign investors
CASABLANCA (Reuters) -- The court-appointed manager of Morocco's oil refiner Samir said on Monday he had received about 20 offers for the company from foreign investors.
Algeria attracts 49 initial international offers for new refineries
ALGIERS (Reuters) -- Algeria has attracted 49 offers from international energy companies to build four refineries worth a total $6 billion, a state energy firm Sonatrach source told Reuters on Monday.
Nigeria V.P.: Country must offer work to illegal refiners to reach peace
PORT HARCOURT, Nigeria (Reuters) -- Nigeria needs to offer work to people who make a living from illegally refining oil in the Niger Delta in order to achieve peace there, the African oil-producing nation's Vice President Yemi Osinbajo said on Tuesday.
Trading giant Glencore extends major Libyan oil deal
LONDON (Reuters) -- Swiss-based commodities giant Glencore has extended a deal with Libya's state oil firm to be the sole marketer of one third of the country's current crude oil production, sources familiar with the matter said.
Crackdown on bush refineries unsettles Nigeria's oil heartland
OGONILAND, Nigeria (Reuters) -- Listening for the engines of navy boats hunting illegal refineries in the swamps of Nigeria's Niger Delta, workers heat up crude oil in a tank next to a waterway.
- ExxonMobil plans 1 Blbs/yr of advanced recycling by 2027 11/22
- Gauging the likely Trump effect on U.S. energy and power sectors 11/22
- Russia's Lukoil restoring cracker at NORSI refinery, gasoline output rising 11/22
- Nigeria's local currency crude sales fall short of target, Dangote refinery says 11/22
- U.S. October gasoline imports hit post-pandemic low on slump in European shipments 11/22
- Clean Hydrogen Works awards McDermott FEED contract for Ascension Clean Energy (ACE) project 11/21
