oil

Consider this: A tranquil holiday town, brimming with warm sunshine and the laughter of vacationers, suddenly finds itself grappling with an environmental tragedy. Anapa—a charming town on the Black Sea coastline, home to about 80,000 residents—has been thrust into a battle against a formidable adversary. This enemy, however, is not a tangible one; it is an oil spill that has stained over 30 miles of its pristine beaches. The stakes are high, and the mayor, Vasiliy Shvets, valiantly champions the town's cause. On…

Mogadishu (AX) – The winds of change are sweeping across Somalia’s economic landscape, spearheaded by promising news from the Somali Minister of Petroleum and Mineral Resources, Dahir Shire Mohamed. With a tone that mingles optimism and realism, the Minister has announced the near completion of oil exploration activities being conducted by a Turkish enterprise. This significant development may well place Somalia on the map of the world's oil producers by late this year or perhaps the onset of 2026, showcasing a daring leap…

Understanding Nigeria's Crude Oil Dilemma It seems Nigeria may soon witness another increase in petrol prices, and the reason might surprise you. Recently, the Nigerian National Petroleum Company (NNPC) Limited has reportedly halted a significant arrangement: the naira-for-crude deal with local refineries. It's a complex issue that might ripple through various sectors of everyday life. Inside sources suggest that NNPC has ceased this crucial deal, which now forces local refineries,…

There's something remarkably exhilarating about big changes in industries, especially when those changes bring about a shift in how things have been operating for years. One wonders: Are such monumental changes noticeable immediately, or do they require a subtle, prolonged observation before their full impact becomes evident? In the bustling world of oil refining, the Dangote Refinery, towering over the skylines of Nigeria, has embarked on a noteworthy journey. Recently, it achieved a significant…

African Oil Discoveries Set to Transform the Global Energy Landscape Imagine a continent rich in energy reserves, like a dormant giant waking to its potential. That's precisely the scene unfolding in Africa's oil sector, according to S&P Global's recent publication, "High Impact Wells 2025". It's noteworthy that Africa has suddenly surged to represent 35% of new oil discoveries in this past year alone. Compare that with a modest 7% just a year before in…

Picture this: A colossal refinery standing tall in Nigeria, not just a symbol of industrial progress but an emblem of a nation's ambition to be a giant in the petrochemical industry. The Dangote Refinery, brainchild of Africa's renowned business magnate Aliko Dangote, is making strategic and daring moves in the global oil market. Their latest venture? A million-barrel crude oil shipment expected from Algeria in mid-March, marking an essential pivot in their crude sourcing philosophy. In the…

In a moment that could redefine Namibia's energy landscape, Gustos Energy has unveiled a substantial oil discovery off the country's coast. This find is not merely a drop in the ocean; rather, it solidifies the Orange Basin as a burgeoning hotspot for hydrocarbon exploration. As reports trickle in from the scene, there's an air of cautious optimism surrounding the implications of this mineral wealth. It's fascinating to witness how exploration efforts, which have unfolded over decades, have finally culminated in such a…

Amid growing discontent, activists have stepped forward, prominently featuring King Okabi from the Ogale community, urging an end to Shell's reckless pollution practices in the Niger Delta. As the legal battle commences between the Ogale and Bille communities and the oil giant, the call for accountability has never been louder. For over six decades, the Niger Delta has suffered under the weight of Shell's negligence. The company’s aging and poorly maintained pipelines have unleashed a torrent of environmental degradation,…

ISTANBUL - In the swirling, azure waters off the coast of Somalia, lies the potential for transformative discoveries in energy. But who would've thought? Turkey's Oruc Reis vessel has recently accomplished a significant milestone. Alparslan Bayraktar, Türkiye’s Minister of Energy and Natural Resources, shared an update on Friday that perhaps invites a moment of reflection on the intricacies of energy exploration. The Oruc Reis, Türkiye's robust seismic exploration vessel, has successfully completed half of its seismic…

KHARTOUM, Sudan - In a saga spun from the pages of a geopolitical thriller, the Sudanese Armed Forces (SAF) and the paramilitary Rapid Support Forces (RSF) find themselves tangled in a blame game over a recent event that turned an oil refinery into a smoking ruin, marking yet another milestone in their prolonged three-year conflict. The tension between these groups is akin to a pot on a perpetual boil—always simmering, never cooling. One could not mistake the drama unfolding over the Al-Jaili refinery, which lies…