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DANGOTE FAVOURS KENYA’S MOMBASA OVER TANZANIA’S TANGA FOR EAST AFRICA OIL REFINERY
Nigerian billionaire Aliko Dangote has indicated he now favors Kenya’s Mombasa over Tanzania’s Tanga for a proposed 650,000-barrel-per-day oil refinery estimated at USD 15–17 billion, citing port depth, market size, and the need for protection against cheap fuel imports—less than three weeks after pledging to build the facility in Tanga.
- 5 months, 4 weeks
ENEOS TO BUY CHEVRON'S STAKE IN SINGAPORE REFINING AND OTHER ASSETS FOR $2.2 BILLION.
Eneos Holdings revealed plans to purchase several downstream energy assets from Chevron in a deal valued at around $2.2 billion. A major part of the agreement involves Chevron’s 50% stake in Singapore Refining Company (SRC), a key refinery operator in Singapore.
- 5 months, 4 weeks
OIL PRICES RISE AS U.S.-IRAN PEACE HOPES FADE
Crude oil prices ticked higher today as hopes for a peace deal between the United States and Iran faded further, after President Trump called Iran’s response to a U.S. peace deal proposal “garbage”.
- 6 months
CHINA INVOKES ANTI-SANCTIONS LAW IN ESCALATION AGAINST U.S. BLACKLISTING.
China has taken a significant and unprecedented step in its economic standoff with the United States by invoking its anti-sanctions law for the first time, directly challenging U.S. efforts to restrict global oil trade linked to Iran. The move follows Washington’s blacklisting of several Chinese refiners accused of purchasing Iranian crude, increasing pressure on Beijing to comply with Western sanctions. Instead, China has ordered its companies not to comply, signaling a firm pushback against what it views as foreign interference. The decision places global firms in a complex position, caught between competing legal systems, while adding further uncertainty to already volatile energy markets.
- 6 months, 1 week
UAE WITHDRAWS FROM OAPEC
The United Arab Emirates (UAE) has officially withdrawn from the Organization of Arab Petroleum Exporting Countries (OAPEC), following the country’s landmark decision to exit OPEC and the broader OPEC+ alliance.
- 6 months, 1 week
OIL PRICES FALL AS TRUMP LAUNCHES “PROJECT FREEDOM” AND OPEC+ INCREASES OUTPUT
Oil prices edged lower in early Asian trading on Monday after President Trump announced the U.S. would guide ships through the Strait of Hormuz and OPEC+ confirmed a modest output increase.
- 6 months, 1 week
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