oil

Basillioh Rukanga and Richard KagoeTuesday April 7, 2026 Somalia is poised to launch its first offshore oil drilling campaign, with a Turkish government-owned drillship due to reach its waters on Friday. The step comes after a Turkish research vessel completed seismic surveys last year, helping map the area’s underground potential. In a post on X, Somalia's Petroleum Minister Dahir Shire called the approach to the country’s first offshore drilling effort a "historic milestone in our offshore energy journey... A new chapter…

Somalia is preparing to launch its first offshore oil drilling campaign, with a Turkish government-owned drillship due to reach waters off the Somali coast on Friday. The milestone comes after a Turkish research vessel completed seismic surveys last year, laying the groundwork for the next phase of exploration. In a post on X, Somalia's Petroleum Minister Dahir Shire called the advance toward offshore drilling a "historic milestone in our offshore energy journey... A new chapter begins." The foreign ministry said a…

Monday April 6, 2026 Mogadishu (AX) — Somalia is on the verge of its first offshore oil drilling campaign, a move that one senior government official said Sunday carries major economic and geopolitical implications as a Turkish drillship prepares to enter the country’s territorial waters. The vessel, Çağrı Bey, is due to arrive in Somalia on April 10, setting the stage for the country’s inaugural offshore drilling operation and a landmark moment for its energy industry. State Minister for Foreign Affairs Ali Omar said the…

Thursday April 2, 2026 Oil markets jolted sharply higher on Thursday, with prices surging more than $5 after President Donald Trump said the United States would keep striking Iran, while stopping short of giving any clear deadline for how the war might end. The lack of a firm end point deepened investor concern that disruptions to energy supplies could stretch on. Brent crude futures LCOc1 climbed $6.33, or 6.3 percent, to $107.49 a barrel in early trading, while US West Texas Intermediate crude CLc1 rose $5.28, or 5.3…

By Ali Mohamed AliWednesday April 1, 2026 Illustrative photo  Somalia’s push to open its offshore waters to Turkish Petroleum Corporation (TPAO) could come at a steep environmental cost unless the country insists on a rigorous Environmental and Social Impact Assessment (ESIA) carried out by an independent, technically qualified firm. Context: Planned Drilling by TPAO Somalia has already awarded TPAO exclusive rights to multiple offshore and onshore oil and gas blocks after the company completed extensive 2D and 3D seismic…

A Russian oil tanker nearing Cuba has opened a narrow lifeline for the island as US President Donald Trump insisted the shipment would do little to change the trajectory of Havana's communist government. Even as the expected delivery promised some badly needed relief, Mr Trump sharpened his warnings toward Cuba's leadership, saying the government would collapse "within a short period of time." The Anatoly Kolodkin, carrying 730,000 barrels of crude, was positioned off Cuba's northeastern coast yesterday evening and was due…

Trump floats 'taking control of Iranian oil,' says Tehran eager for deal US President Donald Trump asserted that Iran’s leaders are “begging to make a deal” to halt the ongoing Middle East war, pushing back on suggestions that Washington is chasing talks. He claimed Tehran signaled its willingness to negotiate by allowing 10 oil tankers to move through the strategic Strait of Hormuz, describing the passage as a…

Thursday March 26, 2026 Hargeisa (AX) — Drivers and businesses across North Western State of Somalia are facing fresh fuel price hikes after authorities on Wednesday rolled out new official pump rates, pointing to surging global oil prices and tighter supply conditions. The revised pricing sets gasoline at 12,500 North Western State of Somalia shillings per liter, while diesel will sell for 10,500 North Western State of Somalia shillings per liter. Officials said the new rates were agreed after consultations involving the…

A sudden policy shift from Washington is sending ripples through global energy markets, as the Trump administration moves to counter surging oil prices amid escalating conflict with Iran. The United States on Friday issued a 30-day waiver allowing the purchase of Iranian oil at sea, a step officials say is aimed at easing supply pressures driven by nearly three weeks of U.S. and Israeli strikes on Iran. Treasury Secretary Scott Bessent said the measure could release roughly 140 million barrels of oil into global…

The Conversation Africa reached out to five academic experts from Nigeria, South Africa, Senegal, Kenya, and Ethiopia to explore the pressing issue: Is the recent surge in oil prices negatively impacting your nation's economy? Across the board, their responses echoed a shared sentiment...