Africa Energy Insights

GHANA: GOIL SLASHES PETROL, DIESEL PRICES FOR CONSUMERS. Ghana’s largest indigenous petroleum downstream oil marketing company, GOIL, has reduced its petrol and diesel prices effective May 19, 2025. Petrol (RON 91) is selling at Gh¢13.27 per litre. africaenergyinsights.com/aei-blog/post/…

TANZANIA AND MOROCCO TO DEEPEN ENERGY SECTOR COOPERATION. The two nations aim to transform their energy landscapes through joint initiatives in electricity, oil, and renewable energy. Minister Benali praised Tanzania’s leadership. africaenergyinsights.com/aei-blog/post/…

QATAR DOES NOT WANT OIL PRICES OF $100. Eng. Saad bin Sherida Al-Kaabi, emphasized that the country does not support oil prices rising to $100 per barrel. He noted that a price range between $70 and $85 per barrel strikes the right balance. africaenergyinsights.com/aei-blog/post/…

KENYA EXTENDS OIL IMPORT DEAL WITH GULF OIL GIANTS THROUGH 2027. The deal, which allows fuel imports on a 180-day credit basis, has also been renegotiated for lower freight and premium costs. New contract will begin toward the end of the year. africaenergyinsights.com/aei-blog/post/…

EU ROADMAP TO FULLY ELIMINATE DEPENDECY ON RUSSIAN ENERGY AND SECURE A SUSTAINABLE FUTURE. With Russian gas imports already reduced from 45% to 19%, the EU has set a clear roadmap to phase out Russian oil, gas, and nuclear energy by 2027. africaenergyinsights.com/aei-blog/post/…

FIRST LNG REALIZED AT THE GREATER TORTUE AHMEYIM PROJECT. Kosmos Energy reports that first liquified natural gas (LNG) production has been achieved at the bp-operated Greater Tortue Ahmeyim (GTA) LNG project, offshore Mauritania and Senegal. africaenergyinsights.com/Tanzania/post/…

HOW TURKEY COULD THWART THE EU's PLAN TO BAN RUSSIANS GAS Through the TurkStream pipeline Russian gas flows under the Black Sea into Turkey and onward to EU countries like Hungary and Slovakia increasing their dependency just as the EU is trying to cut it africaenergyinsights.com/aei-blog/post/…

A CHINESE NUCLEAR REACTOR RECORDS THE LONGEST OPERATING TIME. The first unit of the third phase of the Qinshan Nuclear Power Plant successfully ran for 738 consecutive days. It broke the global record for continuous operation by a CANDU 6 reactor. africaenergyinsights.com/aei-blog/post/…

EIA SHOWS US CRUDE OIL INVENTORIES CONTINUE TO SLIDE. This draw contrasts sharply with the American Petroleum Institute’s earlier report of a 4.49 million barrel build, reflecting conflicting signals in a market already unsettled by economic uncertainty. africaenergyinsights.com/aei-blog/post/…

$19 BILLION NUCLEAR POWER DEAL SEIZED BY SOUTH KOREA. The agreement involves a South Korean consortium his strategic move also aligns with international efforts to transition toward cleaner and more sustainable energy sources. partnering with Czech africaenergyinsights.com/aei-blog/post/…

BIG OIL STAYS THE COURSE ON DIVIDENDS AND BUYBACKS DESPITE MARKET TURMOIL. The world’s top oil majors ExxonMobil, Shell, TotalEnergies, BP, and Chevron companies emphasized resilience and continued capital returns, even as oil prices faltered. africaenergyinsights.com/aei-blog/post/…

CREATING SOLAR PANELS THAT CONVERT CARBON DIOXIDE INTO FUEL. Researchers have created a groundbreaking type of solar panel, dubbed an "artificial leaf," that uses only sunlight to convert carbon dioxide into liquid fuels and other high-value chemicals. africaenergyinsights.com/aei-blog/post/…

GULF STATES PLAN $6 BILLION IN AFRICA INVESTMENTS. The investment will span both renewable energy initiatives and traditional oil field developments. Key beneficiaries are expected to include countries like Nigeria, Kenya, Egypt, and South Africa. africaenergyinsights.com/aei-blog/post/…

MOROCCO AND NIGERIA JOIN FORCES ON LANDMARK $25 BILLION GAS PIPELINE PROJECT Spanning over 5600 kilometers the pipeline will transport natural gas from Nigeria abundant reserves across 13 West African countries ultimately connecting to Europe via Morocco africaenergyinsights.com/aei-blog/post/…

IMF CUTS 2025 MENA GROWTH FORECAST TO 2.6% AMID GLOBAL TRADE TENSIONS AND FALLING OIL PRICES. IMF noted that these global headwinds are slowing consumption, investment, and exports across the region, particularly in oil-dependent economies. africaenergyinsights.com/aei-blog/post/…

OIL AND GAS INVESTOR AFREXIMBANK EARNARK $3 BILLIONSTO SUPPORT LOCALLY REFINED PRODUCTIONS. This initiative seeks to cut fuel imports, enhance local refining, and fund secure distribution of products like premium motor spirit, etc, across the continent. africaenergyinsights.com/aei-blog/post/…

BALLYMORE LAUNCHES; A STRATEGIC BOOST FOR GLOBAL OFFSHORE OIL PRODUCTON AND INVESTEMENT. TotalEnergies and Chevron have started production at the Ballymore, boosting output, cutting costs. The project strengthens their Gulf presence and investment. africaenergyinsights.com/aei-blog/post/…

CHINA'S ABSENCE FROM UK ENERGY SUMMIT SIGNALS GROWING TENSIONS AND ITS IMPACT ON GLOBAL ENERGY CO. China’s absence from the UK energy summit reflects growing diplomatic tensions. It may also weaken global efforts on energy security and climate action. africaenergyinsights.com/aei-blog/post/…

WORLD BANK FORECASTS OIL GLUT AND PRICE DROP IN 2025. The World Bank expects an oil glut in 2025, pushing Brent crude to $73 per barrel. Lower demand and rising supply may ease inflation in developing countries. africaenergyinsights.com/aei-blog/post/…

EU STRATEGY TO PHASE OUT RUSSIAN OIL AND GAS DUE IN MAY. The EU will unveil its plan to cut Russian energy ties on May 6, amid rising LNG imports and trade tensions. Internal divisions and U.S. policy uncertainty have delayed concrete action. africaenergyinsights.com/aei-blog/post/…