Two months ago, Nigeria took a big step toward fixing its troubled energy sector. For the first time in decades, Africa’s largest oil producer is refining its own crude oil at home. This was made possible by the Dangote Oil Refinery, a massive $20 billion facility owned by Aliko Dangote,
The Dangote Refinery, Africa’s largest, has finally started producing fuels after years of delays but now faces accusations from senior officials that international oil companies (IOCs) are deliberately obstructing its operations. According to Devakumar Edwin, a vice president at Dangote Industries Limited, these IOCs are demanding exorbitant premiums for locally
In the past ten days, the Taliban sold 150,000 tons of crude oil for over $80 million. This follows their 25-year contract with China’s CAPEIC, which invested $49 million to boost daily production to 8,000 barrels. Beijing’s investment in Afghanistan is starting to pay off as the government has sold
The Reserve Bank of India has requested the nation’s principal state-owned refiners to accept rupees for crude, starting the process of de-dollarization with Gulf exporters. It seems that India is now seeking a similar agreement with Gulf crude exporters, four months after its government rejected efforts from Russian oil corporations
According to a report by Sputnik Globe-News, the US has defied its sanctions and imported Russian crude worth nearly $3.5 million in October and November. Despite imposing sanctions on Russia over its invasion of Ukraine, the United States received Russian oil worth $2.7 million and $749,500 last October and November,
The US seized 1 million barrels of Iranian oil from the ship Suez Rajan in April, which was allegedly being sold to China by the IRGC. The American administration has acknowledged that it intercepted about a million barrels of Iranian crude oil that were reportedly headed for China. The department
