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Petrobras Signs 20-Year LNG Purchase Deal With Sempra Infrastructure
Brazilian state-run oil company Petrobras has signed a 20-year liquefied natural gas (LNG) sale and purchase agreement with Sempra Infrastructure, a U.S. energy infrastructure company and subsidiary of Sempra (NYSE: SRE).
Under the agreement, Petrobras will purchase 0.8 million metric tons per annum (mtpa) of LNG from the Port Arthur LNG liquefaction terminal in Texas.
Securing long-term LNG volumes will help Petrobras reduce its exposure to spot-market price volatility, strengthen risk management of its natural gas portfolio and improve its ability to meet contractual commitments with greater flexibility and supply security, the company said.
The Port Arthur LNG terminal, which Sempra Infrastructure is currently building on the Texas Gulf Coast, will have access to U.S. natural gas resources and integrated logistics infrastructure.
Sempra Infrastructure develops, builds, operates and invests in energy infrastructure, including LNG projects, energy networks and low-carbon solutions.
Ghana: COMAC Projects Petrol Prices To Rise By 9.63%, Diesel By 6.97%, And LPG By 3.22%
Fuel prices are projected to rise further at the pump during the second pricing window beginning Sept. 16, the Chamber of Oil Marketing Companies (COMAC) said, citing higher crude oil and refined-product prices, renewed tensions in the Middle East and depreciation of the local currency.
In its price outlook, a copy of which was seen by Energy News Africa, COMAC projected that petrol prices could rise by between 7.75% and 9.63%, diesel by 4.26% to 6.97%, and liquefied petroleum gas (LPG) by 0.85% to 3.22%.
The projected increases are based on the price floors for petrol, diesel and LPG for the second pricing window of September.
According to industry data seen by Energy News Africa, the petrol price floor for the second pricing window has been increased to GH¢16 per litre, while the diesel floor has risen to GH¢16.77 per litre.
The minimum price for LPG has also been increased to GH¢10.97 per kilogramme.
The petrol price floor increased by GH¢1.47 per litre, from GH¢14.53 to GH¢16, while the diesel floor rose by GH¢1.17, from GH¢15.60 to GH¢16.77.
The LPG floor price recorded a marginal increase of GH¢0.12 per kilogramme, from GH¢10.85 to GH¢10.97.
For the second pricing window, average crude oil prices rose by 12.29% to $104.01 per barrel, crossing the $100-per-barrel mark for the first time since May.
COMAC attributed the increase to attacks on vessels in the Gulf and tightening supply following Saudi Arabia’s closure of a major crude oil pipeline.
“The increase was driven by vessel attacks in the Gulf and tightening of supply following Saudi Arabia’s closure of a major crude oil pipeline,” COMAC said in its pricing outlook.
“The East-West pipeline closure has put about 4 million barrels at risk, pushing crude prices higher amid renewed U.S.-Iran tensions, Houthi advances and attacks on Saudi Arabia,” it said.
The local currency depreciated by 1.01% to GH¢11.4849 to the U.S. dollar between August 27 and September 11, according to COMAC.
Petrol prices rose from $1,126 per metric tonne to $1,275 per metric tonne, while diesel prices increased to $1,418 per metric tonne from $1,319.11 per metric tonne.
LPG prices also increased, rising from $616 per metric tonne to $717.59 per metric tonne.
During the first pricing window, the average price of petrol was GH¢15.67 per litre, while diesel and LPG averaged GH¢17.27 per litre and GH¢16.64 per kilogramme, respectively.
Nigeria: Tinubu Says Atiku’s Promise To Restore Petrol Subsidy Is Retrogressive
Nigeria’s federal government has rejected calls by former Vice President Atiku Abubakar to restore a petrol subsidy removed in 2023, warning that its reinstatement would undermine reforms in the petroleum sector.
The presidency, in a statement by Bayo Onanuga, Special Adviser to President Bola Tinubu on Information and Strategy, said restoring the subsidy would create legal and fiscal complications and could discourage investment in domestic refining, including the Dangote Refinery and other modular refineries.
Atiku, who is seeking to become president in Nigeria’s 2027 general election, has promised to restore the petrol subsidy if elected.
Atiku said his proposal was not a return to the opaque subsidy regime of the past, but a controlled mechanism to support Nigerian refineries while ensuring that the benefits of cheaper crude feedstock were passed on to consumers.
The presidency, however, criticised the proposal as retrogressive and fiscally unsustainable, describing it as a product of “desperation to win the presidency”.
“Nigeria’s petroleum landscape had changed fundamentally since President Bola Tinubu announced the removal of petrol subsidy,” the statement said.
Nigeria generated 15.8 trillion naira ($10.9 billion) from the removal of the petrol subsidy between June 2023 and December 2025, according to Finance Minister and Coordinating Minister of the Economy Taiwo Oyedele.
Of that amount, 5.4 trillion naira accrued to the federal government, while 10.4 trillion naira was shared among state and local governments, Oyedele said.
The presidency said Atiku’s proposal demonstrated what it described as his “high level of ignorance” of governance and economics.
Tinubu announced the removal of the petrol subsidy on May 29, 2023, shortly after taking office.
The decision sent petrol prices from below 200 naira per litre to more than 1,000 naira, increasing transportation, food and other living costs.
Gastech 2026 Opens In Bangkok
Gastech 2026 opened in Bangkok on Monday, bringing together energy ministers, policymakers, company executives and investors to discuss energy security, affordability and reliability amid rising global demand.
More than 50,000 people, 800 exhibitors and more than 800 speakers are expected to attend the event, which organisers describe as the largest annual gathering for the natural gas and liquefied natural gas (LNG) industry.
Held under the theme “Where Global Supply Meets Demand”, the event is focused on investment, infrastructure and partnerships across the energy sector.
Thailand’s Prime Minister Anutin Charnvirakul, opening the conference, called for closer cooperation and increased investment in energy projects as Asia’s economies expand.
“The world today is facing challenges of extraordinary complexity. Geopolitical tensions are reshaping energy trade while economies are seeking greater resilience,” Anutin said.
“At this defining moment, energy is not simply a commodity, energy is critical, enabling nations to grow, innovate, and improve the quality of life. This is why we must pursue an energy future that balances three essential priorities: energy security, affordability, and sustainability.”
Thailand’s Energy Minister Akanat Promphan said the country was seeking to meet rising power demand while improving the competitiveness and security of its energy system.
“As we look ahead, building energy security while making progress on the energy transition is not just a destination, it is a journey that will require technology, innovation, investment, and cooperation to move forward together,” Akanat said.
The opening addresses preceded the launch of the conference’s Strategic Conference, which brought together ministers from Nigeria, Oman, Singapore and Timor-Leste, as well as policymakers and representatives of international energy institutions.
The first ministerial panel, titled “The Energy Reset: Who Controls Power in the New Global Order?” examined changes in global energy markets and the pressures facing governments as demand for energy grows.
Oman’s Energy and Minerals Minister Salim bin Nasser Al Aufi said greater exploration, investment and cooperation were needed to meet demand, while geopolitical tensions remained a major obstacle to the movement of energy supplies.
“We need more energy, we need more exploration, more collaboration. But in my honest opinion, we need more understanding of each other, and we need more peace to allow us to do what we are good at,” Al Aufi said.
“The issue now is the last part: getting it out to the consumers who need it most.”
Former British Prime Minister Tony Blair told delegates that energy security was increasingly linked to national security and economic growth, particularly as countries sought to expand artificial intelligence infrastructure.
“Energy security is a vital part of every country’s independence and overall security, and we need to have diverse energy supplies for industry and for AI,” Blair said.
“When you look at energy policy today, it is right up there with defence in terms of how you think about security in the broader sense and economic prosperity for the future.”
Executives from companies including PTT, PETRONAS, INPEX, Woodside Energy, YPF, NNPC, Shell, ExxonMobil, Chevron, JERA, Venture Global, Baker Hughes and Trafigura also took part in leadership sessions focused on investment, infrastructure and energy supply.
Tengku Muhammad Taufik, president and group chief executive of PETRONAS, said Asian policymakers were taking a pragmatic approach to energy policy as they sought to balance economic growth with energy security and the transition to lower-carbon sources.
“The theme of Gastech 2026 – Where Global Energy Supply Meets Demand – could not have been more appropriate because that is what Asia needs,” Taufik said.
“What we like about working with our partners in Asia is that policymakers have been pragmatic, they have not forced a fuel idealism or ideology-driven policy that compels people to respond in unrealistic ways.”
Gastech 2026 also launched programmes covering electrification, energy regulation, low-carbon solutions and hydrogen, as well as a Japan Energy Programme focused on the country’s LNG strategy and its impact on regional markets.
AixEnergy, a new event held alongside Gastech, is examining the relationship between artificial intelligence and energy, including the growing electricity requirements of data centres.
The exhibition features major international energy companies and Thai firms including EGAT, PTT and Gulf, with Chevron, ExxonMobil and Shell serving as co-hosts.
Organisers said Gastech 2025 generated a record $60 billion in deals. They expect this year’s event to facilitate further investment and commercial agreements across the global energy sector.
Christopher Hudson, president of event organiser dmg events, said greater cooperation would be needed to meet rising global energy demand.
“No single nation, no single company, no single technology alone can deliver energy at the scale this moment demands. It takes partnership. It takes collaboration. It takes technology. That is why Gastech exists,” Hudson said.
Gastech 2026 runs in Bangkok this week, with discussions expected to focus on rising electricity demand, artificial intelligence, LNG, natural gas, electrification and the energy transition.
India Approves Emergency Electricity Supply To Nepal After Floods Damage Hydropower Projects
India has approved an emergency plan to export up to 654 megawatts of electricity to neighbouring Nepal to help ease shortages caused by extensive damage to hydropower infrastructure in recent floods.
India’s Ministry of Power said in a statement on Monday that up to 654 megawatts would be supplied for 18 hours a day through Dec. 31.
“The approval will help Nepal meet its power requirements during this difficult period and further strengthen the close and longstanding energy cooperation between India and Nepal,” the ministry said, according to Al Jazeera.
The ministry said it would review in December the amount of electricity to be exported from January.
The floods, triggered on Aug. 26 by a glacial mountain collapse on the China-Nepal border, killed more than 1,400 people in Nepal and Tibet, according to Al Jazeera.
At least 12 hydropower projects in Nepal were damaged, while more than 5,500 people remained missing in the country, including at least 900 power station workers, Al Jazeera reported.
Almost all of Nepal’s electricity needs were met by hydropower before the floods, but the damage has forced the country to import electricity after years of exporting surplus power to India.
Thousands of displaced people are sheltering in aid centres, with many unlikely to return home soon.
The United Nations and its partners have appealed for nearly $50 million to support survivors.
Nepali officials estimate that at least $5 billion will be needed for initial reconstruction, saying the disaster highlights the vulnerability of poorer countries to climate change despite their relatively small contribution to global emissions.
The Himalayas, where Nepal is located, are approaching a tipping point as glaciers melt faster than they did a decade ago, threatening water security as the region approaches “peak water” by mid-century, according to a study released this month.
Syria Fuel Price Hikes Trigger Protests In Several Cities
Syrians took to the streets in several cities to protest sharp increases in fuel prices, with demonstrators blocking a main highway for several hours, according to Al Jazeera.
The protests followed the government’s decision on Sunday to raise fuel prices by up to 40% for diesel and 28% for petrol, which it said were temporary increases prompted by a sharp rise in the global cost of securing fuel.
The government also cited an overhaul of the country’s Baniyas refinery as a factor behind the price increases.
The refinery’s capacity is expected to rise from 80,000 barrels per day to 130,000 barrels per day following the upgrade.
Al Jazeera reported protests in Hama, Khan Sheikhoun and Maarat al-Numan.
Video footage seen by Energy News Africa showed crowds gathering in the streets and burning tyres.
The price increases have also sparked heated debate on social media.
Syria is currently producing about 102,000 barrels of oil per day, while domestic consumption stands at about 325,000 barrels per day, leaving the country dependent on imports to meet the shortfall, Energy Minister Mohammed al-Bashir said on Saturday.
The Ministry of Energy said it would continue to review fuel prices in response to changes in global market conditions and would work over the longer term to expand refining and storage capacity, according to state news agency SANA.
Fuel supplies are critical to Syria’s economic recovery as the country seeks to rebuild after 14 years of war.
Nigeria: Dangote Refinery Launches N2.15 Trillion IPO On Nigerian Exchange
The Dangote refinery, Africa’s largest oil refinery, on Monday launched its initial public offering (IPO) on the Nigerian Exchange (NGX) in Lagos, offering 4.1 billion ordinary shares at 525 naira each.
The offer will close on Oct. 13, with a minimum subscription of 10 shares at 5,250 naira, according to the IPO terms.
If fully subscribed, the offer is expected to raise 2.15 trillion naira ($1.622billion) to support the refinery’s expansion, according to the terms.
The IPO is open to retail and institutional investors, as well as eligible African investors.
Speaking at the launch, Aliko Dangote, founder of Dangote Refinery, described the offering as the “People’s IPO”, saying it would give members of the public an opportunity to participate in ownership of the refinery.
“We fully share all our prosperity with the people. That’s why we call this ‘People’s IPO’. We know the journey has actually just started. It’s not only about the refinery,” Dangote said.
Dangote said the Dangote Group’s market capitalisation should reach at least $350 billion by 2030, based on a price-to-earnings ratio of 10 times.
“We, as a group, will list every single company that will operate. I don’t know about the others, but I know our own market cap, even at a 10 times P/E ratio by 2030, should not be less than $350 billion,” he said.
Dangote said the conglomerate had raised more funds than it needed to execute its projects, with about $46 billion allocated for group-wide expansion under its 2030 plan.
“The Dangote Group has raised more than we need to execute all our projects. We have about $46 billion allocated for group-wide expansion to achieve our 2030 vision, and we remain on track,” he said.
He also said the refinery could seek a listing outside Africa within the next three to four years.
“From this exchange, then we can go to any other place,” Dangote said, adding that the Nigerian capital market would serve as the group’s base for future listings elsewhere.
Oil Prices Rise As Middle East Attacks Fuel Fears Of Prolonged Supply Disruption
Oil prices rose more than 3% in early Asian trade on Monday as fears of a major and prolonged supply disruption intensified following continued attacks in the Middle East and the postponement of a key meeting between Gulf states and Iran.
Both benchmarks remained higher, with WTI futures trading at $103.10 a barrel, up 2.16% on the day, while Brent futures rose 2.14% to $108.20 a barrel.
Over the weekend, Yemen’s Iran-aligned Houthi group said it had launched a large-scale missile and drone attack on Saudi Arabia, targeting a military base in Sharurah.
Saudi state media did not confirm the attack, but separately reported that a projectile had fallen in the Jazan region.
The reported attack was the latest escalation involving Saudi Arabia and Iran-aligned groups, following a drone attack last week on the kingdom’s East-West oil pipeline, which was launched from Iraq, according to Saudi authorities.
Meanwhile, the United Kingdom Maritime Trade Operations (UKMTO) said a vessel in the Strait of Hormuz had been struck by an unknown projectile.
The Associated Press later reported that an Iranian cargo vessel had been hit early on Sunday off Qeshm Island, although it was unclear whether the incident was the same attack reported by UKMTO.
Adding to concerns about supply disruptions, Oman’s Foreign Minister Badr Albusaidi said on Sunday that a meeting between Gulf states and Iran scheduled for Monday had been postponed because of a lack of consensus.
The meeting had been expected to discuss a potential agreement between Iran and Oman on the temporary management of shipping through the Strait of Hormuz. It would have been the first meeting since the conflict began between the Gulf Cooperation Council (GCC) states as a group and Iranian officials.
Oil markets had already been on edge following last week’s attacks on Saudi Arabia’s East-West pipeline, forcing the kingdom to shut one of the region’s key crude export routes.
Traders are concerned that up to 4% of global oil supply could be disrupted if the pipeline is not reopened within days. The extent of the damage remains unclear, with reports that several pumping stations were hit by drones launched from Iraq.
The pipeline is not the only potential threat to Saudi Arabia’s oil exports outside the Strait of Hormuz.
The Houthi group has also expanded its territorial control in Yemen, raising concerns over shipping through the Bab el-Mandeb Strait.
The group reached the strategically located island of Perim last week, according to reports. Control of the island could give the Houthis a position from which to monitor shipping and potentially disrupt traffic through the Red Sea waterway.
Rosatom, Kazakhstan Sign EPC Contract For 2,400 MW Balkhash Nuclear Plant
Russia’s state nuclear corporation Rosatom and Kazakhstan Nuclear Power Plants LLP (KNPP) have signed an engineering, procurement and construction (EPC) contract for the planned Balkhash Nuclear Power Plant in Kazakhstan, Rosatom said.
The plant, comprising two power units with a total capacity of 2,400 megawatts, is planned near the village of Ulken in the Zhambyl district of Kazakhstan’s Almaty region.
Rosatom First Deputy Director General for Nuclear Energy and Atomstroyexport President Andrey Petrov signed the contract on behalf of the Russian side, while KNPP Director General Ernat Berdigulov signed for Kazakhstan.
Rosatom Director General Alexey Likhachev and Almasadam Satkaliev, chairman of Kazakhstan’s Agency for Atomic Energy, attended the signing ceremony.
The contract sets out the responsibilities of the Russian and Kazakh parties in the project. Rosatom will oversee the project’s implementation, including design, procurement, construction, commissioning and handover of the completed plant to KNPP.
The plant is planned to use two VVER-1200 reactors, each with an electrical capacity of 1,200 MW.
Rosatom described the reactors as Generation III+ technology and says they meet international nuclear safety requirements.
VVER-1200 reactors are operating or under construction in Russia, Egypt, Belarus, Turkey, Bangladesh, Hungary and China, according to Rosatom.
The reactors have a design service life of 60 years, with the possibility of extending it by a further 20 years, Rosatom said.
“The signed document marks a new stage in our cooperation with Kazakhstan,” Likhachev said. He added that Rosatom would carry out design work and establish an international consortium of equipment suppliers.
Site investigation work for the plant began in August 2025 and is under way, Rosatom said. More than 60 boreholes, up to 120 metres deep, have been drilled and samples collected for laboratory analysis to help determine the optimal location for the power units.
The site investigation is expected to be completed in 2027. Engineers will then prepare documentation required to obtain permits for construction of the power units, Rosatom said.
The project comes as Kazakhstan, one of the world’s largest uranium producers, seeks to develop nuclear power to diversify its energy mix and strengthen domestic electricity generation.
Across Africa, countries are also considering nuclear power as a way to meet rising electricity demand, support industrial development and improve energy security.
Several are still developing the regulatory frameworks, institutions and technical skills needed to launch nuclear programmes, while uranium-producing countries are exploring how their resources could support wider industrial development.
Egypt is further along in the process. Construction is under way at the four-unit El-Dabaa Nuclear Power Plant, which has a planned total capacity of 4,800 MW. Once completed, the plant is expected to generate about 37 billion kWh of electricity a year and provide around 10% of Egypt’s electricity needs.
For African uranium producers at an earlier stage of nuclear development, Kazakhstan provides an example of how a country can seek to connect uranium production with domestic nuclear power generation, skills development and supporting infrastructure.
Ghana: Power Generation Falls 3.99% In July, PURC Urges Renewable Investment
Ghana’s total electricity generation fell 3.99% month-on-month to 2,317.13 gigawatt-hours (GWh) in July 2026, although output was 6.20% higher than a year earlier, according to the July electricity supply fact sheet published by the Public Utilities Regulatory Commission (PURC).
The monthly decline was attributed to seasonal changes in demand, including lower electricity consumption due to improved weather conditions, the regulator said.
Despite the monthly decline, thermal power remained the dominant source of electricity generation, accounting for 74.33% of total output, while hydropower and solar generation jointly contributed the remaining 25.67%.
The continued dominance of thermal generation means fuel availability and the performance of thermal plants remain critical to the reliability of Ghana’s electricity supply, PURC said.
The document showed that Ghana’s national electricity system recorded peak demand of 3,968 megawatts (MW) in July, down from the annual peak demand recorded in April.
However, peak demand was 6.61% higher than in July 2025, indicating continued underlying growth in electricity demand.
Installed generation capacity stood at 5,818 MW at the end of July, while dependable capacity was 4,968 MW.
The power system recorded a reserve margin of 24.82% in July, above the 18% system adequacy benchmark.
This indicated that dependable generation capacity was sufficient to meet peak demand while providing additional flexibility to manage unexpected system contingencies, PURC said.
Ghana also strengthened its position as a net electricity exporter in July, with exports increasing while imports made only a minimal contribution.
PURC said the stronger net-export position reflected sufficient dependable generation capacity and a reserve margin above the system adequacy benchmark.
However, the regulator cautioned that Ghana would need to maintain system efficiency and invest in cross-border infrastructure to ensure regional electricity supply commitments do not undermine domestic power security.
Natural gas consumption by Ghana’s thermal power plants reached 14.79 million million British thermal units (MMBtu) in July, representing a 9.25% increase from July 2025.
Gas consumption nevertheless fell 17.06% from June 2026, reflecting a short-term moderation despite the power sector’s continued dependence on gas-fired thermal generation.
The document showed that Eni remained Ghana’s largest gas supplier during the month, providing an average flow of 276.36 million standard cubic feet per day (MMSCFD).
Takoradi and Tema were the largest gas consumption centres, using 163.49 MMSCFD and 147.44 MMSCFD, respectively, and together accounting for the bulk of gas consumed for thermal power generation.
PURC said Ghana’s continued reliance on thermal generation exposes the electricity sector to fuel price volatility, foreign exchange pressures, fuel supply risks and higher generation costs.
It recommended accelerating investment in renewable energy to reduce the sector’s exposure to those risks and improve the long-term sustainability of electricity supply.
The regulator also called for continued investment in dependable generation capacity, transmission infrastructure and demand-side management as electricity demand continues to rise.
PURC further noted that reliance on heavy fuel oil for thermal generation underscored the need to expand access to natural gas, given the higher production costs associated with liquid fuels.
PURC said the stronger net-export position reflected sufficient dependable generation capacity and a reserve margin above the system adequacy benchmark.
However, the regulator cautioned that Ghana would need to maintain system efficiency and invest in cross-border infrastructure to ensure regional electricity supply commitments do not undermine domestic power security.
Natural gas consumption by Ghana’s thermal power plants reached 14.79 million million British thermal units (MMBtu) in July, representing a 9.25% increase from July 2025.
Gas consumption nevertheless fell 17.06% from June 2026, reflecting a short-term moderation despite the power sector’s continued dependence on gas-fired thermal generation.
The document showed that Eni remained Ghana’s largest gas supplier during the month, providing an average flow of 276.36 million standard cubic feet per day (MMSCFD).
Takoradi and Tema were the largest gas consumption centres, using 163.49 MMSCFD and 147.44 MMSCFD, respectively, and together accounting for the bulk of gas consumed for thermal power generation.
PURC said Ghana’s continued reliance on thermal generation exposes the electricity sector to fuel price volatility, foreign exchange pressures, fuel supply risks and higher generation costs.
It recommended accelerating investment in renewable energy to reduce the sector’s exposure to those risks and improve the long-term sustainability of electricity supply.
The regulator also called for continued investment in dependable generation capacity, transmission infrastructure and demand-side management as electricity demand continues to rise.
PURC further noted that reliance on heavy fuel oil for thermal generation underscored the need to expand access to natural gas, given the higher production costs associated with liquid fuels. Saudi Arabia Shuts Critical Oil Pipeline After Drone Attack From Iraq
Saudi Arabia has closed a critical oil pipeline after it was attacked by drones launched from Iraq, as the conflict in the Middle East widens, the BBC reported.
Saudi Arabia has previously accused Iran-backed militias in Iraq of targeting its oil facilities.
The 1,200-km (745-mile) East-West pipeline allows Saudi Arabia, the world’s largest crude oil exporter, to bypass the Strait of Hormuz.
The incident comes amid a major advance by the Iran-backed Houthi rebels in Yemen, putting further pressure on global oil shipping routes as the US-Iran war enters its seventh month.
On Friday, Yemen’s Saudi-backed government forces said they had struck Houthi fighters in the strategic coastal city of Mokha, a day after the Houthis seized control of the entire Red Sea coast.
Saudi Arabia said on Friday it had shut the pipeline as a precaution, as satellite images showing scorched ground and smoke near the site emerged.
The Saudi foreign ministry said the attack caused some injuries and damage, which was still being assessed.
The pipeline has been carrying between 4% and 5% of global oil supply, Reuters reported, citing ship-tracking companies and analysts.
Saudi Arabia has decided not to retaliate for now, its foreign ministry said, following a call from Iraq’s prime minister.
The ministry said the kingdom would “support the efforts of the Iraqi government” to “prevent attacks” launched from Iraq against neighbouring states.
“The Kingdom of Saudi Arabia affirms that it reserves its right to take all necessary measures to safeguard its sovereignty and security, protect its facilities, and ensure the safety of its citizens and residents,” the statement said.
The Iraqi prime minister’s office said the operations commander in Maysan governorate, a province bordering Iran, had been removed from his post after it was confirmed that the drone attack had been launched from the region.
Saudi Arabia has previously carried out strikes alongside the United States against Iran-backed militias in Iraq after accusing the groups of launching drones from Iraqi territory at oil facilities.
The Gulf Cooperation Council (GCC), which comprises Saudi Arabia, the United Arab Emirates, Bahrain, Oman, Qatar and Kuwait, also condemned the attack.
“This attack represents a dangerous escalation and an unacceptable threat to the security of the Kingdom of Saudi Arabia, its territorial integrity, and its vital installations, as well as a flagrant violation of the principles of international law,” GCC Secretary-General Jasem Mohamed Albudaiwi said.
Ghana: NPP Warns Fuel Price Relief Could Trigger New Energy Debt Crisis
Ghana’s main opposition New Patriotic Party (NPP) has warned that the government’s suspension of statutory margins supporting key institutions in the petroleum downstream sector could create another debt crisis if the policy continues.
The NPP said it supported measures to cushion consumers from higher fuel prices caused by the conflict in the Gulf region, but opposed funding such relief by withholding revenue from institutions in the downstream sector while keeping government taxes and levies on petroleum products unchanged.
“What we do not endorse is accumulating significant debt in the downstream energy sector by depriving it of the revenue it needs to function while keeping every Government tax and levy on petroleum products in place and passing this off as relief when the opposite is in fact the case,” the party said in a statement issued on Friday.
The NPP’s Policy Committee on Energy said the government’s GH¢2-per-litre intervention on diesel, introduced a few months ago, had been financed through the suspension of statutory margins allocated to key downstream institutions.
The party estimated that the measure was costing the sector more than GH¢500 million ($45.2 million) a month, rising to nearly GH¢683 million when the implied support to the Unified Petroleum Price Fund (UPPF) was included.
The NPP said GH¢2.076 billion had already been withheld from the Bulk Oil Storage and Transportation Company (BOST), distributors, fuel markers and the UPPF in April, May, August and September.
“None of it has been replaced. It is being converted, quietly, into deferred maintenance, supplier arrears and institutional borrowing,” said the statement, signed by Kojo Oppong Nkrumah, chairman of the NPP Policy Co-ordination Committee.
The party said the resulting obligations could eventually become public debt.
“Government is accumulating debt to BOST and other key players under the guise of ‘intervention’,” it said.
The NPP also warned that a further rise in international crude oil prices could make the intervention increasingly expensive, potentially pushing diesel prices above GH¢18 per litre even with the GH¢2 relief in place.
It said pricing data for Sept. 16-30 showed crude oil rising from $92.11 to $98.18 a barrel, an increase of 6.59%, while international petrol prices rose 14.57%, diesel prices increased 4.85% and liquefied petroleum gas (LPG) rose 13.47%.
The party also said the cedi weakened to GH¢11.50 per dollar from GH¢11.40.
“Diesel already sells in the GH¢17-plus range at the major OMCs,” the NPP said, referring to oil marketing companies. “Applying the next-window movements—international diesel up 4.85% and cedi down 0.88%—to current ex-pump prices, a diesel price north of GH¢18 per litre is entirely plausible even with the GH¢2 intervention in place.”
The party said Ghana had no control over when the conflict in the Middle East would end and questioned how long the government could sustain the intervention.
“If crude moves well above US$100 a barrel, does the subsidy become GH¢3, or GH¢4? Where does it end?” it asked.
The NPP urged the government to restore the suspended statutory margins and suspend taxes and levies on fuel for the duration of the crisis.
“Restore the statutory margins it has raided, stop digging a GH¢600 million monthly hole in the petroleum downstream that Ghanaians will otherwise repay as a new round of energy sector debt, and suspend the taxes and levies it collects on every litre of fuel for the duration of this crisis,” the party said.
Sasol, Enaex Africa Sign Agreement For Sale Of Sasol’s Nitrates Business
South African integrated energy company Sasol has entered into an agreement with Enaex Africa to sell its Nitrates business, which includes primary ammonia conversion plants in Secunda and Sasolburg that convert ammonia into feedstock for the fertiliser and explosives markets.
The proposed transaction is expected to be value-accretive to Sasol’s South African portfolio and supports the company’s portfolio optimisation strategy.
Sasol will retain a 23% stake in the joint venture, while Enaex Africa will become the majority partner.
Enaex Africa is part of global explosives and blasting solutions provider Enaex Group, which has more than 100 years of experience in the mining industry and serves customers across multiple markets worldwide.
The transaction builds on a partnership between Sasol and Enaex Africa that began in 2020, while allowing Sasol to focus on its strategic priorities.
Sasol and Enaex Africa said they would work closely together to ensure a smooth transition for employees, customers, suppliers and other stakeholders.
The transaction remains subject to the necessary regulatory approvals before it can be implemented. The companies said they would provide further updates once the required approvals have been obtained and the transaction reaches the implementation stage.
“This transaction is an important step in delivering our portfolio optimisation strategy,” Sasol President and Chief Executive Officer Simon Baloyi said.
“We are confident that Enaex Africa is well positioned to support the future growth of the Nitrates business, given its industry expertise, market access and strategic focus.”
“Throughout this process, our priority remains the wellbeing of our employees, maintaining business continuity and ensuring a responsible transition for all stakeholders. We look forward to the next stage of this successful partnership,” Baloyi said.
Enaex Africa Chief Executive Officer Francisco Baudrand said the transaction marked “the next chapter” in the company’s partnership with Sasol.
“Bringing these capabilities into our business will strengthen our value chain, enhance security of supply and further improve how we serve our customers,” Baudrand said.
“We look forward to building on the strong foundation we have established and taking the partnership into its next phase.”
Shell Sells RISEC Stake For $715 Mln, Buys Pennsylvania Power Plant
Shell Energy North America (US), L.P. (SENA), a subsidiary of Shell Plc, has agreed to acquire 100% of Hunlock Creek Generating LLC, which owns 169 megawatts (MW) of natural gas-fired generation capacity in Pennsylvania, while selling its interests in RISEC Holdings LLC to Constellation Energy Generation LLC for $715 million.
RISEC owns a 609-MW, two-unit combined-cycle gas turbine power plant serving the New England power market.
The transactions are part of Shell’s ongoing management of its U.S. power portfolio, the company said.
“These transactions reflect our dynamic approach to managing our trading portfolio,” Andrew Smith, Shell’s president of Trading & Supply, said.
“We selectively invest in assets that strengthen our market position and create value, while remaining ready to realize value when market conditions present attractive opportunities,” he added.
The acquisition of Hunlock will strengthen Shell’s position in the PJM power market and secure supply and capacity offtake for SENA in the Mid-Atlantic power grid operated by PJM Interconnection, the largest wholesale electricity market and grid operator in the United States, Shell said.
Hunlock and its subsidiary own 169 MW of natural gas-fired generation capacity in Pennsylvania.
The asset will give SENA access to flexible gas-fired generation and complement its power trading activities, the company said.
Shell said the sale of RISEC will allow it to realize value from the asset on an accelerated timeline.
SENA’s earlier acquisition of RISEC provided continued access to the plant’s capacity and associated trading opportunities, allowing the company to generate value through its asset-backed trading portfolio, Shell said.
The sale will bring forward returns that Shell had expected to generate through longer-term ownership of the asset, resulting in a significant gain on the transaction, the company said.
Both transactions are subject to regulatory approvals and are expected to close in the first quarter of 2027.