Kuwait Petroleum Corporation (KPC) has signed a landmark $16 billion lease-and-leaseback agreement for its crude oil pipeline network with a consortium of global investment firms Blackstone, Brookfield, and KKR.
Tanzania and Saudi Arabia have agreed to strengthen bilateral relations by expanding cooperation in trade, investment, tourism, energy and other strategic sectors following high-level talks in Riyadh. The two countries aim to boost business partnerships and investments through the Tanzania–Saudi Arabia Joint Business Council while enhancing economic and diplomatic ties.
Egypt is negotiating with major energy companies, including Shell, TotalEnergies, BP, and commodities trader Hartree Partners, to secure between 15 and 18 liquefied natural gas (LNG) cargoes each month under contracts lasting three to five years, according to sources familiar with the discussions.
ADNOC Distribution's acquisition of Shell's downstream business in South Africa, valued at approximately US$1 billion, marks one of the country's largest-ever fuel retail transactions.
Construction has begun on the second phase of the state-owned Mafeteng Solar Power Station in Lesotho, a project being developed by a Chinese joint venture.
Lower global oil prices could ease Tanzania's fuel import bill and reduce inflationary pressures if the recovery continues. However, renewed Middle East tensions remain a major risk, with any disruption to oil supplies likely to push fuel prices higher again.