“Dangote Group is pleased to announce that it has entered a strategic partnership with Honeywell International Inc. to support the next phase of expansion of the Dangote Petroleum Refinery. This collaboration will provide advanced technology and services that will enable the refinery to increase its processing capacity to 1.4 million barrels per day by 2028, marking a major milestone in our long-term vision to build the world’s largest petroleum refining complex.
“Through this agreement, Honeywell will supply specialised catalysts, equipment, and process technologies that will allow the refinery to process a broader slate of crude grades efficiently, while further enhancing product quality and operational reliability,” the statement said.
Under the deal, Dangote will also deploy Honeywell UOP’s Oleflex technology to boost its polypropylene capacity to 2.4 million metric tonnes per year, strengthening Nigeria’s position in the global petrochemicals market.
Although the financial terms were not disclosed, a source familiar with the transaction indicated that the agreement could exceed US$250 million, depending on the final configuration of the expansion.
“Dangote Group is also advancing its petrochemical footprint. As part of the wider collaboration, we are scaling our polypropylene capacity to 2.4 million metric tonnes annually using Honeywell’s Oleflex technology. Polypropylene is a key industrial material widely used across packaging, manufacturing, and automotive applications.
“While contracts of such nature tend to vary based on project complexity, a source familiar with the situation said it could be valued at over US$250 million,” it noted.
Honeywell, a global Fortune 100 industrial and technology company, offers a broad portfolio of solutions across aviation, automotive, industrial automation, and advanced materials.
Honeywell’s UOP division has been a technology partner to Dangote since 2017, providing proprietary refining systems, catalyst regeneration equipment, high-performance column trays, and heat-exchanger technologies that support the refinery’s operations.
In addition to the refinery expansion, the statement noted that the group is also progressing with the next phase of its fertiliser growth plan in Nigeria.
Nigeria: Dangote Refinery Partners With U.S. Firm Honeywell To Drive 1.4 Million BPD Expansion
Africa’s largest petroleum refinery, the Dangote Petroleum Refinery in Lagos, Nigeria, on Tuesday announced that it has selected U.S.-based Honeywell as its strategic partner for the planned expansion of its capacity from 600,000 barrels per day to 1.4 million barrels per day by 2028.
If achieved, this milestone would make the Dangote Refinery the world’s largest single-location refining complex.
This latest development comes just a month after the founder and Chairman, Aliko Dangote, unveiled the refinery’s expansion programme.
According to the refinery’s management, Honeywell will supply catalysts, specialist equipment, and technology solutions to enable the facility to process a broader slate of crude grades. The collaboration is expected to significantly enhance operational efficiency and support the projected ramp-up in output.
“Dangote Group is pleased to announce that it has entered a strategic partnership with Honeywell International Inc. to support the next phase of expansion of the Dangote Petroleum Refinery. This collaboration will provide advanced technology and services that will enable the refinery to increase its processing capacity to 1.4 million barrels per day by 2028, marking a major milestone in our long-term vision to build the world’s largest petroleum refining complex.
“Through this agreement, Honeywell will supply specialised catalysts, equipment, and process technologies that will allow the refinery to process a broader slate of crude grades efficiently, while further enhancing product quality and operational reliability,” the statement said.
Under the deal, Dangote will also deploy Honeywell UOP’s Oleflex technology to boost its polypropylene capacity to 2.4 million metric tonnes per year, strengthening Nigeria’s position in the global petrochemicals market.
Although the financial terms were not disclosed, a source familiar with the transaction indicated that the agreement could exceed US$250 million, depending on the final configuration of the expansion.
“Dangote Group is also advancing its petrochemical footprint. As part of the wider collaboration, we are scaling our polypropylene capacity to 2.4 million metric tonnes annually using Honeywell’s Oleflex technology. Polypropylene is a key industrial material widely used across packaging, manufacturing, and automotive applications.
“While contracts of such nature tend to vary based on project complexity, a source familiar with the situation said it could be valued at over US$250 million,” it noted.
Honeywell, a global Fortune 100 industrial and technology company, offers a broad portfolio of solutions across aviation, automotive, industrial automation, and advanced materials.
Honeywell’s UOP division has been a technology partner to Dangote since 2017, providing proprietary refining systems, catalyst regeneration equipment, high-performance column trays, and heat-exchanger technologies that support the refinery’s operations.
In addition to the refinery expansion, the statement noted that the group is also progressing with the next phase of its fertiliser growth plan in Nigeria.
“Dangote Group is pleased to announce that it has entered a strategic partnership with Honeywell International Inc. to support the next phase of expansion of the Dangote Petroleum Refinery. This collaboration will provide advanced technology and services that will enable the refinery to increase its processing capacity to 1.4 million barrels per day by 2028, marking a major milestone in our long-term vision to build the world’s largest petroleum refining complex.
“Through this agreement, Honeywell will supply specialised catalysts, equipment, and process technologies that will allow the refinery to process a broader slate of crude grades efficiently, while further enhancing product quality and operational reliability,” the statement said.
Under the deal, Dangote will also deploy Honeywell UOP’s Oleflex technology to boost its polypropylene capacity to 2.4 million metric tonnes per year, strengthening Nigeria’s position in the global petrochemicals market.
Although the financial terms were not disclosed, a source familiar with the transaction indicated that the agreement could exceed US$250 million, depending on the final configuration of the expansion.
“Dangote Group is also advancing its petrochemical footprint. As part of the wider collaboration, we are scaling our polypropylene capacity to 2.4 million metric tonnes annually using Honeywell’s Oleflex technology. Polypropylene is a key industrial material widely used across packaging, manufacturing, and automotive applications.
“While contracts of such nature tend to vary based on project complexity, a source familiar with the situation said it could be valued at over US$250 million,” it noted.
Honeywell, a global Fortune 100 industrial and technology company, offers a broad portfolio of solutions across aviation, automotive, industrial automation, and advanced materials.
Honeywell’s UOP division has been a technology partner to Dangote since 2017, providing proprietary refining systems, catalyst regeneration equipment, high-performance column trays, and heat-exchanger technologies that support the refinery’s operations.
In addition to the refinery expansion, the statement noted that the group is also progressing with the next phase of its fertiliser growth plan in Nigeria.
Mali: AfDB Approves $68 Million In Project Financing To Boost Power Supply And Reduce Outages
The African Development Bank Group has approved US$68.26 million for Mali to support the implementation of the Bamako 225 kV North Loop Project (PBNB).
The financing package comprises $35.27 million from the African Development Fund, $18.99 million from the Transition Support Facility, $5 million from the Climate Investment Fund, and a $6.8 million grant, along with an additional $2.2 million grant from the Green Climate Fund.
This total commitment represents 36.13 percent of the total project cost, estimated at $190 million.
Cofinancing will be provided by the West African Development Bank (27.36 percent), the Islamic Development Bank (32.91 percent), and the Government of Mali (3.6 percent).
The initiative addresses critical challenges in the electricity sub-sector, including low access rates (55.8 percent nationally in 2023—86.6 percent in urban areas and 30.4 percent in rural areas), an average annual demand increase of 10 percent, insufficient generation capacity of 903.6 megawatts in 2023 (more than 54 percent of which was thermal), losses of 22 percent (including 10 percent technical losses), dependence on fuel imports, and financial pressure that requires state subsidies.
The project includes the construction of a 225-kilovolt double-circuit transmission line between the Kodialani and Dialakorobougou substations, and two new 225/33-kilovolt substations in Safo and Kénié. It also involves the expansion of three existing substations (Kodialani, Kambila and Dialakorobougou), as well as the installation of medium- and low-voltage lines to reconfigure the network and electrify new neighbourhoods.
The project will also connect 10,000 new households and productive users, install 2,000 smart meters for high-voltage customers, and increase transmission capacity to 600 megawatts.
Around 320 temporary jobs (20 percent allocated to women) and 60 permanent jobs will be created. In addition, 60 young graduates (half of them women) will receive professional internships to improve their employability.
Environmental and social measures will include public consultations, support to municipalities for land management, and stakeholder training. The project is also expected to reduce greenhouse gas emissions by 1.12 MtCO₂e per year, representing a reduction of more than 50 percent of the emissions that would be generated by the current energy system without the project.
The project will run for five years, from January 2026 to December 2030, and will benefit the entire population of Bamako, the Malian capital.
Commenting on the approval, Lamin Barrow, the Bank Group’s Director General for West Africa, said: “This project will help safeguard Bamako’s electricity supply and guarantee access to reliable, sustainable and modern energy services at an affordable cost.”
He added: “It should also boost agricultural value chains and employment opportunities for young people and women.”
Nigeria: NNPC Limited Posts Record N5.4tn Profit, Unveils $60bn Investment Drive
Revenue: ₦45.1 Trillion, 88% year-on-year growth
Profit After Tax: ₦5.4 Trillion, 64% year-on-year growth
Earnings Per Share: ₦27.07, 64% year-on-year growth
Nigeria’s national oil company, NNPC Ltd., on Monday declared a profit after tax of N5.4 trillion (approximately US$3.7 billion) after growing its revenue to N45.1 trillion (approximately US$30.9 billion) for the 2024 financial year.
Group Chief Executive Officer of NNPC, Bashir Omaru Ojulari, attributed the strong profit to significant growth in the company’s revenue, representing an 88 per cent year-on-year increase.
“The earnings highlight the positive momentum of our ongoing transformation and the unwavering commitment of our workforce. They provide a solid foundation for the ambitious growth ahead, in line with President Bola Tinubu’s mandate, and reaffirm our commitment to delivering value to Nigerians,” he said.
Mr. Ojulari said the performance was driven by several key factors, including enhanced operational efficiency across the company’s assets, the positive impact of downstream market reforms, and a firm commitment to cost discipline.
He added that, building on its 2024 performance, NNPC Ltd. has unveiled a strategic roadmap designed to sustain growth, strengthen energy security, and support Nigeria’s energy transition through 2030.
“The plan prioritises increased oil and gas production and outlines a US$60 billion investment in pipelines across the energy value chain,” he noted.
Speaking further on the roadmap for sustained growth and energy security, Mr. Ojulari said the company is accelerating investments across upstream operations, gas infrastructure, and clean energy to sustain growth into the next decade.
He listed key strategic targets, including increasing crude oil production to two million barrels per day (bpd) by 2027 and three million bpd by 2030.
According to him, NNPC is reviewing the technical and commercial viability of Nigeria’s refineries to strengthen domestic energy security.
He said the company is also targeting an increase in natural gas production to 10 billion cubic feet per day (bcf/d) by 2027 and 12 bcf/d by 2030, alongside the completion of major gas infrastructure projects.
He named the projects as the Ajaokuta–Kaduna–Kano (AKK) pipeline, the Escravos–Lagos Pipeline System (ELPS), and the Obiafu–Obrikom–Oben (OB3) pipeline, aimed at improving domestic supply and boosting regional integration.
“Our transformation is anchored on transparency, innovation, and disciplined growth. We are positioning NNPC Limited as a globally competitive energy company capable of delivering sustainable returns while powering the future of Nigeria and Africa,” he said.
Ghana: NPA Cautions Job Seekers Against Fake Recruitment Advertisement
Ghana’s petroleum downstream regulator, the National Petroleum Authority (NPA), has cautioned the public, especially job seekers, against information circulating on social media and other online platforms about alleged recruitment into the Authority.
The Authority described the purported recruitment, circulated under the title “Offer of Appointment into the National Petroleum Authority,” as a fake scheme aimed at swindling unsuspecting job seekers.
“The purported recruitment letters and messages did not originate from the NPA and should therefore be disregarded and treated as fraudulent,” the Authority said in a statement.
The statement strongly cautioned the public against engaging with, or making any form of payment to, individuals or groups claiming to represent the NPA in relation to any recruitment exercise.
“All official communications from the NPA are issued only through its official website (www.npa.gov.gh) and verified social media handles,” it added.
The regulator said it is collaborating with law enforcement agencies to investigate, identify, and prosecute persons involved in these fraudulent activities.
The NPA urged the public to remain vigilant and report any suspicious recruitment activity or correspondence claiming to be from the Authority to the appropriate channels.
South Africa: Gov’t Will Fast-Track Gas Projects To Secure Energy Supply – Mantashe
South Africa’s Minister of Mineral and Petroleum Resources, Gwede Mantashe, says the government is fast-tracking domestic gas development and LNG import projects to mitigate supply shortfalls from Mozambique.
Mantashe made the remarks while addressing the G20 Africa Energy Investment Forum in Johannesburg on Friday, November 21, 2025.
“We will continue to develop infrastructure to integrate new deposits and make gas available to South Africa,” Mantashe said.
“The biggest solution is us having access to our own gas deposits,” he added.
The country currently imports 90% of its natural gas via the 865 km ROMPCO pipeline from Mozambique’s Pande and Temane fields. With South African energy and chemical company Sasol planning to prioritise its internal volumes from mid-2026, the government is accelerating infrastructure development and domestic exploration to secure new supplies and strengthen energy resilience.
To address the gap, the government is fast-tracking the Matola Floating Storage and Regasification Unit (FSRU) in Mozambique, expected online by mid-2026, and the Richards Bay LNG terminal in South Africa, scheduled for 2027.
Plans are also underway for new pipelines to connect offshore discoveries in the Orange Basin to the national grid.
Mantashe further stressed the need to advance regulatory reforms to unlock offshore exploration and lift moratoria in the Karoo and Orange Basins.
The Orange Basin — site of major discoveries including Brulpadda and Luiperd — has the potential to significantly reduce imports, boost GDP, and create jobs, the minister noted, adding that successful development could unlock billions in investments across the petrochemicals and energy sectors.
“Drill, baby, drill,” Mantashe emphasised. “We have no legal restriction on oil and gas exploration and exploitation in South Africa. If we make a breakthrough on oil and gas, our GDP will grow exponentially. Our people will never breathe fresh air in darkness.”
South Africa’s move signals a decisive push toward energy self-sufficiency at a time when global LNG markets are volatile and domestic gas demand continues to rise.
Ivory Coast: Energy Minister Outlines 2026 Priorities, Reports Strong 2024 Sector Performance
Ivory Coast’s Minister of Mines, Petroleum, and Energy, Mamadou Sangafowa-Coulibaly, has outlined the country’s priorities for the petroleum sector in 2026, focusing on exploring new oil deposits, strengthening sector governance, and increasing production.
Presenting the 2026 national budget, he highlighted progress on key projects, including the scheduled completion of the Baleine (Phase 2) and Baobab (Phase 5) gas field development projects in 2026.
He also referenced an ongoing natural-gas-to-power project implemented in partnership with the World Bank and ENI, aimed at securing the country’s gas supply.
On electricity generation, the Minister outlined priority areas such as expanding installed capacity to over 3,415 MW, improving grid reliability, reducing outages, and completing more than 550,000 new connections to accelerate universal access to electricity by 2030.
Reviewing developments in the mining sector in 2024, Mr. Coulibaly noted that 41 new exploration permits were issued, while gold production increased to 59.1 tonnes.
However, manganese and nickel output declined due to unfavourable market conditions.
He reported that production commenced at the Baleine field (Phase 2), and national oil analysis laboratory capabilities were upgraded.
The Minister also highlighted ongoing challenges, including persistent illegal gold mining, and emphasized the work of the GSLOI task force in addressing the issue.
Electricity infrastructure development in 2024 included connecting 638 villages to the national grid, increasing generation capacity to 3,044 MW, and commissioning new infrastructure such as a solar technology resource centre.
Ghana: NEDCo Commences Revenue Mobilisation, Warns Against Power Theft
The Northern Electricity Distribution Company Ltd (NEDCo) has commenced a general revenue mobilisation and loss control exercise across its operational areas, effective today, Monday, November 24, 2025.
A statement issued by Maxwell Kotoka, Manager of Corporate Communications at NEDCo, said the exercise will cover all categories of customers in arrears, including both privately owned and state-owned accounts, except for a selected critical few.
According to him, significant attention will be given to loss-inducing activities such as illegal and unauthorised connections of all forms.
He added that special security arrangements have been put in place to ensure that the exercise proceeds smoothly without interference from any individual.
“Any persons identified as being engaged in illegal connections or reconnections will be dealt with in accordance with the law,” he said.
He noted that the company’s Head Office and Area Offices will be closed temporarily to allow for the full engagement of all staff, including top management, in the exercise.
However, customer service centres, zonal offices and third-party vendors will remain open to address customer concerns, including reconnections.
Mr Kotoka emphasised that the exercise will not interfere with ongoing prosecution processes and advised customers in arrears to pay their bills immediately to avoid disconnection and the payment of reconnection fees.
He further urged those involved in any form of illegal or unauthorised connection to desist immediately to avoid any encounter with the law.
He concluded by appealing to the public to cooperate with the company to ensure the success of the exercise.
Aramco Signs 17 MoUs Valued At $30 Billion With Companies In The United States
Aramco, one of the world’s leading integrated energy and chemicals companies, has signed seventeen (17) Memoranda of Understanding (MoUs) and agreements with a potential total value of more than $30 billion with major companies in the United States through its Aramco Group companies.
These MoUs and agreements build on the 34 MoUs and agreements announced in May, which had a potential total value of approximately $90 billion.
Collectively, they are geared toward unlocking potential collaboration opportunities with companies in the U.S. valued at around $120 billion.
The MoUs and agreements are expected to support Aramco’s strategic growth objectives while enhancing shareholder value.
They involve collaborations and partnerships across a range of activities including liquefied natural gas (LNG), financial services, advanced materials manufacturing, and procurement of materials and services.
Amin H. Nasser, Aramco President & CEO, said: “Since the 1930s, U.S. firms have played a major role in supporting the company’s success. These relationships have contributed to the first production of oil in Saudi Arabia, the growth of our gas business, an expansion of our integrated downstream operations, the development of advanced digital technologies, AI and R&D, and promoted upskilling through the training and development of many Aramco employees in the U.S. We expect the multi-billion-dollar MoUs and agreements announced today to act as a springboard for further progress, strengthening Aramco’s longstanding legacy of collaboration with American counterparties and unlocking new value-creation opportunities that promote innovation and growth.”
Kenya Power Adopts New Meter Reading Technology To Boost Billing Accuracy
Kenya’s power utility, Kenya Power, has begun rolling out a new meter reading technology designed to enhance the efficiency, accuracy, and speed of meter data collection across its operational areas.
The new initiative, known as Optical Character Recognition (OCR), eliminates the need for manually typing meter numbers and readings. Instead, it allows for the scanning of meter displays to enable high-accuracy processing.
“Technology is a major driver of our business, and in terms of billing—specifically meter reading—we have been looking at how to make it better and more accurate. With the OCR system, the meter reader will just be required to scan the meter, and the system will pick the meter readings automatically. This will save time and eliminate human error that is likely to occur if the meter reader manually types the readings,” said Richard Wida, Kenya Power’s Commercial Cycle Manager, in a statement issued on Monday, November 24, 2025.
The nationwide rollout follows a successful six-month pilot conducted in Nairobi starting in March 2025.
According to the company, a total of 1.8 million postpaid meters are targeted for reading using the OCR technology. These are the postpaid meters whose readings must be taken manually and submitted monthly for billing.
Beyond improving meter reading efficiency, the OCR system is also intended to reduce billing anomalies that arise from inaccurate meter readings.
“The OCR technology is a major milestone in Kenya Power’s digital transformation journey, through which the Company aims to strengthen service delivery and enhance customer experience. It will complement other technologies that the Company has deployed to improve service delivery and strengthen operations,” said Mr. Wida.
Kenya Power is already leveraging several digital platforms to enhance service delivery, including the self-service channels—MyPower App and USSD Code *977#—which allow customers to access services on their mobile phones. Through the self-reading option, postpaid customers can read their meters and submit readings monthly for accurate billing.
“In the future, we want to enable the use of OCR in self-reading so that our customers can enjoy the convenience of reading their meters with minimal chance of error,” Mr. Wida added.
Additionally, the Company has deployed smart metering systems for large power users, SMEs, and selected domestic customers. Smart meters support two-way communication, enabling remote meter reading as well as disconnections and reconnections.
Ghana: OSP Investigates 30 OMCs For Fuel diversion
Ghana’s anti-corruption agency, the Office of the Special Prosecutor (OSP), says it is investigating thirty (30) Oil Marketing Companies (OMCs) in the country for their alleged involvement in a fuel diversion scheme.
The OMCs are alleged to have diverted marine gas oil, premix fuel, and diesel.
The OSP revealed this in a statement issued on Friday, providing an update on ongoing investigations being undertaken by the office.
However, the OSP did not name the OMCs involved in the alleged diversion.
According to the OSP, the suspected diversions have major revenue implications, adding that efforts are underway to recover millions of cedis that should have accrued to the state.
It would be recalled that the Chamber of Oil Marketing Companies (COMAC) recently raised concerns about fuel diversion and called for a thorough investigation into the matter.
The Chief Executive Officer of COMAC, Dr. Riverson Oppong, and the Chairman of the Chamber, Gabriel Kumi, alleged that there are significant revenue losses linked to illegal bunkering activities in Ghanaian territorial waters, where subsidised fuel is being diverted for unauthorised commercial use.
“The implications of these illegal operations result in higher operating costs for genuine beneficiaries in the fishing industry and unfair competition against tax-compliant PSPs,” they said.
These illegal activities, they noted, have resulted in an unsustainable 553 per cent increase in MGO local volumes over the 2022–2024 period, which the Chamber described as worrying.
“This situation raises serious concerns about the effectiveness of regulatory enforcement and the integrity of existing control systems,” they added.
South Africa: NERSA Sets 13 January 2026 For Public Hearing On REIPPPP Bid Window 7 Licence Applications
The National Energy Regulator of South Africa (NERSA) has scheduled a virtual public hearing for 13 January 2026 to consider licence applications submitted under Bid Window 7 of the Renewable Energy Independent Power Producer Procurement Programme (REIPPPP).
NERSA is the statutory authority responsible for regulating South Africa’s electricity, piped-gas, and petroleum pipelines industries.
The virtual hearing will run from 09:30 to 12:00 on Microsoft Teams and will be streamed live on X.
In a statement, the regulator invited members of the public and interested stakeholders to attend the session or make oral submissions.
It further advised that those unable to join the virtual proceedings may submit written comments, which must reach the regulator’s office by Friday, 19 December 2025.
Six applicants are seeking generation licences for large-scale solar power projects across the Free State and Limpopo provinces. The proposals include:
- Lupus Energy (RF) (Pty) Ltd – 210 MWAC in Matjhabeng, Free State
- Piscis Energy (Pty) Ltd – 200 MWAC in Matjhabeng, Free State
- Dwaalboom Solar 3 (Pty) Ltd – 180 MWAC in Thabazimbi, Limpopo
- Leeuwspruit Solar 1 (Pty) Ltd – 220 MWAC in Moqhaka, Free State
- Oslaagte Solar 2 (Pty) Ltd – 240 MWAC in Moqhaka, Free State
- Oslaagte Solar 3 (Pty) Ltd – 240 MWAC in Moqhaka, Free State
India’s Largest Conglomerate Stops Russian Oil Imports Amid Global Pressure
India’s largest conglomerate Reliance Industries, owned by billionaire Mukesh Ambani, has stopped importing Russian crude oil for its export-only refining unit at Jamnagar in the western state of Gujarat.
The move aims to comply with an EU ban on fuel imports made from Russian oil through third countries, which takes effect next year. It also aligns with US sanctions on major Russian oil producers Rosneft and Lukoil, set to kick in on Friday.
“This transition has been completed ahead of schedule to ensure full compliance with product-import restrictions coming into force on 21 January 2026,” Reliance said in a statement.
The White House has welcomed the move by Reliance.
“We welcome this shift and look forward to advancing meaningful progress on US-India trade talks,” the White House press office said, in a statement to the Washington Post.
Delhi’s purchase of Russian oil has been a major sticking point between India and the US. Trump slapped India with 50% tariffs in August, including a 25% penalty for buying Russian oil and arms, which he says was funding Moscow’s war on Ukraine – a charge India has denied.
India’s purchases of discounted Russian oil shot up from barely 2.5% of imports before the war began in 2022, to around 35.8% in 2024-25.
Reliance is India’s largest importer of Russian oil, and accounts for around 50% of Russian oil flows into the country.
The Jamnagar refinery is the largest single-site refining complex in the world – with two separate units dedicated for exports and the domestic market.
Mounting global pressure appears to be having a desired effort on India after months of resistance from Delhi to reduce oil purchases from Moscow. Over the past couple of months, oil refiners in India have been lowering their imports, according to several reports.
Reliance reduced orders from sanctioned Russian companies by 13% while increasing monthly imports from Saudi Arabia to 87% and Iraq to 31% in October, according to a Carnegie Endowment report.
Indian state-controlled refineries are also skipping Russian crude imports for December contracts according to Bloomberg.
Given India has sharply curtailed its imports, Washington must “immediately scrap the additional 25% tariff on Indian goods”, Ajay Srivastava of the Global Trade and Research Initiative (GTRI) think-tank said.
“Maintaining the tariff despite India meeting US expectations undermines goodwill and risks slowing already delicate trade negotiations,” Mr Srivastava said.
Negotiations for a broader trade deal between India and the US have been severely hampered by the former’s Russian oil purchases, but the tensions appear to be gradually letting up after months of uncertainty.
Ghana: Energy Minister Inaugurates New Petroleum Hub Development Corporation Board
The Minister for Energy and Green Transition, Hon. John Abdulai Jinapor, has inaugurated the newly constituted Board of the Petroleum Hub Development Corporation (PHDC). The PHDC is a government initiative aimed at developing Ghana’s petroleum industry and positioning the country as a major energy hub in the sub-region.
The members of the Board are: Mr. George Blay-Morkeh (Chairman), Dr. Toni Aubynn, Esq. (Ag. CEO), Mr. David Ampofo, Mr. Francis Tettey-Sackey, Esq., Dr. Patrick Ofori (CEO of Chamber of Bulk Oil Distributors), Mr. Abednego Akuteck, and Dr. Mizpah Ama Dziedzorm Rockson.
According to the Minister, the inauguration advances the government’s commitment to building a vibrant, competitive, and fully integrated petroleum hub for Ghana and the sub-region.
“I charged the Board to take bold steps in attracting and onboarding strategic investments across the entire energy value chain. From storage and refining to transportation and supporting infrastructure, the opportunities are vast and PHDC must play a catalytic role in unlocking them,” Minister Jinapor said.
Ghana already serves, in many ways, as an energy hub for the sub-region, with the distribution of power and petroleum products flowing through the country to neighbouring states.
The work of PHDC will further position Ghana to harness this strategic advantage and transform it into sustained economic growth.
The PHDC is a government-led, private sector initiative aimed at developing over 20,000 acres of land in the Jomoro area in the Western Region into a petroleum hub, which will comprise three refineries, each with a minimum capacity of 300,000 barrels per stream day.
Additionally, the hub will have five (5) petrochemical plants, each with a minimum processing capacity of 90,000 barrels per stream day, as well as two jetties with multiple berths.
Egypt: Petroleum Ministry Announces New Offshore Oil Discovery In Gulf Of Suez
Egypt’s Ministry of Petroleum and Mineral Resources (MoPMR) has announced a new oil discovery offshore in the Gulf of Suez, following the successful drilling of the Northeast Ramadan Crystal exploration well (NER-1X), located in the North-East Ramadan Concession area.
The discovery was made by the Gulf of Suez Petroleum Company (GUPCO), the operating joint venture (JV) between the Egyptian General Petroleum Corporation (EGPC) and the UAE’s Dragon Oil.
The Ministry expects the new well to be brought onstream within days, with an estimated initial output of about 3,000 barrels per day (bbl/d) of crude oil.
According to the Ministry, the application of Ocean Bottom Node (OBN) seismic surveying technology enabled the identification of promising geological structures beneath the seabed that were previously inaccessible, significantly enhancing exploration efficiency.
Furthermore, the existing Al-Fanar platform (owned by EGPC) was used for drilling the well and initiating early production, eliminating the need to construct a new platform.
This measure greatly reduces costs and reflects the efficient utilization of the Petroleum Sector’s existing assets and infrastructure, the Ministry confirmed on November 20.
The new discovery supports the sector’s goal of stabilizing and increasing oil production.
Recent discoveries include Khalda Petroleum Company’s new natural gas find, Gomana-1, in the Western Desert, with an estimated production rate of around 36 million cubic feet per day (mmcf/d).
These successes align with the broader goals of the Petroleum Sector, which Minister of Petroleum and Mineral Resources Karim Badawi previously highlighted while reviewing the sector’s progress since July 2024 aimed at retaining production levels.
Badawi stated, during the celebration of National Petroleum Day, that the petroleum sector recorded 75 new oil and natural gas discoveries and brought 383 new wells into production, adding 1.1 billion cubic feet (bcf) of natural gas and nearly 200,000 bbl/d of crude oil.
Additionally, Badawi noted on the ministry’s PetroCast podcast that current natural gas production has reached about 4.2 billion cubic feet per day (bcf/d), with plans for further increases.
He added that crude oil production, after earlier declines, has now stabilized and is poised to enter a new growth phase supported by recent discoveries and investments in the Western Desert and Gulf of Suez. Crude oil production had previously stabilized at 540,000 bbl/d in February.