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Ghana: Energy Commission Seeks Stronger Energy Ties With UAE
Ghana’s Energy Commission’s Acting Executive Secretary, Adwoa Serwaa Bondzie, has paid a courtesy call on the United Arab Emirates’ Ambassador to Ghana, Dr Abdulla Murad Sulaiman Mohammed Al Mandoos, at the UAE Embassy in Accra.
The visit forms part of the commission’s broader efforts to build strategic international partnerships to support Ghana’s energy transition, attract investment and ensure access to secure, affordable and sustainable energy for all.
Ms Bondzie thanked the ambassador for the warm reception and reaffirmed the commission’s readiness to collaborate with the UAE on energy innovation, strengthen bilateral ties and advance shared energy goals
Zambia: Fuel Prices Rise For November As Kwacha Weakens
Zambia’s Energy Regulation Board (ERB) has increased fuel pump prices for November, citing higher international prices for some petroleum products and a depreciation of more than 3% in the kwacha against the U.S. dollar.
Petrol will sell at 33.06 kwacha per litre, up from 31.46 kwacha, while diesel will rise to 34.45 kwacha from 33.27 kwacha, the regulator said in a statement issued by its Board Chairperson, James Banda, on Saturday, October 31.
Kerosene will increase by 2.32 kwacha to 32.08 kwacha per litre, while Jet A-1 will rise by 2.66 kwacha to 34.51 kwacha per litre.
The revised prices took effect at midnight on October 31 and will remain in force until the next price review, according to the statement.
The regulator said sustained geopolitical tensions in the Middle East had generally pushed international oil prices higher during the review period.
Average international petrol prices rose to $125.84 per barrel from $121.58, while kerosene and Jet A-1 prices increased to $153.22 per barrel from $144.00.
International diesel prices, however, fell to $154.71 per barrel from $160.88.
The ERB said movements in international petroleum prices and the exchange rate were the main factors behind the November pump price adjustments.
Zambia reviews fuel prices monthly.
Russia Discusses Floating Nuclear Power Plants With Four African Nations
Russia’s state nuclear corporation Rosatom said on Friday it was in advanced talks with four African countries about developing floating nuclear power plants to help address electricity shortages.
Rosatom Director General Alexey Likhachev said discussions were underway with Egypt, Namibia, Tanzania and Togo.
Speaking to reporters after a Russia–Africa summit in Moscow, Likhachev said nine African countries had expressed interest in the technology, with talks involving the four countries reaching an advanced stage.
Russia is already building the El Dabaa nuclear power plant in Egypt.
Russia currently operates a floating nuclear power plant at Pevek in its remote Chukotka region. The facility began operations in 2020, and Russia sees potential for more such plants to supply remote areas, including the Arctic.
“A specific feature of several African economies is that some countries are paying a high price for electricity, despite not being in a strong financial position,” Likhachev said.
“This is precisely the area where we are now prepared to supply electricity, using floating nuclear power plants,” he said, noting that 38 African countries have access to the sea and could use the technology.
Likhachev also discussed a uranium extraction project in Namibia and plans for a lithium mine in Mali, which he said had estimated reserves of more than 4,000 tonnes.
Russia has sought for several years to expand its economic and military presence in Africa, where it competes with Western countries and China for influence.
Oman Rescues 25 Crew Members From Burning Oil Tanker In Strait Of Hormuz
At least 25 crew members were safely rescued from a burning crude oil tanker in the Strait of Hormuz on Friday, Al Jazeera reported, citing Oman’s Maritime Security Centre.
The crew were aboard the merchant vessel RITI, the report said.
In a statement carried by Al Jazeera, the centre said the vessel was flying the Panamanian flag. Ship-tracking website MarineTraffic identified it as a crude oil tanker.
The incident came as Iran said it had halted four tankers attempting to cross the Strait of Hormuz using “unauthorised routes”.
It was unclear whether the vessel whose crew were evacuated by Omani maritime authorities was among the four tankers.
Iran’s Islamic Revolutionary Guard Corps (IRGC) said all four vessels were carrying oil and had been halted following “incidents” or after striking mines.
“Two offending oil tankers, one in the eastern part and the other in the western part of the Strait of Hormuz, which were attempting to pass through the unauthorised route, encountered incidents and were brought to a halt in the waters south of the strait,” the IRGC said in a statement on Friday.
Hours later, the IRGC said two more tankers, each carrying more than two million barrels of oil, had “exploded and caught fire” after striking mines while attempting to use an “unauthorised route”.
Meanwhile, Iran’s navy said on Friday that it had struck and destroyed an unmanned enemy craft east of the strait.
Iran has repeatedly warned vessels against passing through the strait without Tehran’s permission. It has claimed responsibility for attacks on ships and said last month that vessels attempting to transit the waterway without authorisation would face “destruction”.
Tehran has asserted control over much of the waterway since the United States and Israel launched their war on Iran on February 28.
Tanzania: TPDC Secures Four Exploration Licences Following Mnazi Bay Gas Discovery
Tanzania has awarded four petroleum exploration licences to the Tanzania Petroleum Development Corporation (TPDC), a day after announcing an estimated 223 billion cubic feet of natural gas discovery at Mnazi Bay in the Mtwara Region.
Vice President Deogratius Ndejembi witnessed the signing in Dar es Salaam on Wednesday, October 28, 2026, as the government moves to expand exploration, strengthen energy security and attract investment into the petroleum sector.
The licences cover Eyasi-Wembere, Lindi–Mtwara, West Songo Songo and Mnazi Bay North, giving TPDC a greater role in exploration while supporting the development of local technical expertise.
Energy Minister Dr Juma Zuberi Homera said the allocation reflected the government’s commitment to strengthening national participation in the petroleum industry and ensuring that Tanzania derives greater economic benefits from its natural resources.
He acknowledged President Samia Suluhu Hassan’s support for petroleum exploration and described the licensing programme as an important step in the country’s long-term energy development.
The signing followed the government’s October 27 announcement of a gas discovery at the Kasa-1X ST2 exploration well in Mnazi Bay, drilled by TPDC and French energy company Maurel & Prom.
The government estimated the discovery at 223 billion cubic feet, while Maurel & Prom reported a preliminary estimate of approximately 200 billion cubic feet, subject to further technical evaluation.
Homera said the well was expected to produce approximately 30 million cubic feet of gas per day for at least 10 years, depending on development and operational requirements.
Two additional development wells, MB-5 and MS-2, were reported to have increased production by more than 65 million cubic feet per day.
Maurel & Prom reported that Mnazi Bay’s production reached approximately 130 million cubic feet per day in October, boosting supplies for electricity generation and other domestic consumers.
According to Homera, more than 80% of gas produced at Mnazi Bay is used to generate electricity at Tanzania Electric Supply Company facilities in Mtwara and Dar es Salaam.
Tanzania’s discovered natural gas resources are estimated at 57.54 trillion cubic feet, comprising 47.13 trillion cubic feet offshore and 10.41 trillion cubic feet onshore.
The government is also advancing construction of an approximately 35-kilometre pipeline connecting the Ntorya gas field to the Madimba processing facility. Construction was reported to be 74% complete.
The pipeline is expected to deliver additional gas for electricity generation, industrial operations and other domestic uses.
Beyond power generation, government figures indicate that Tanzania had established 22 compressed natural gas filling stations and 20 vehicle conversion workshops by September 2026.
Six industries, 21 institutions and approximately 5,000 households were also reported to be connected to natural gas distribution infrastructure.
TPDC is holding discussions with four prospective investors interested in developing small-scale liquefied natural gas projects, three of which are proposed for the Mtwara Region.
Homera said approximately 200 Tanzanians had secured employment with companies involved in the Mnazi Bay drilling programme. Locally owned businesses had also received 35 contracts worth more than TZS20 billion.
TPDC increased its participating interest in the Mnazi Bay venture from 20% to 40% in 2024, with Maurel & Prom holding the remaining 60%. The increased stake is expected to give TPDC a stronger role in project decisions and a greater share of potential earnings.
The Petroleum Upstream Regulatory Authority welcomed the licensing programme and reaffirmed its commitment to ensuring compliance with petroleum legislation, environmental requirements and licence conditions.
It also encouraged greater participation by Tanzanian professionals and companies in exploration activities.
The developments form part of Tanzania’s efforts to expand energy infrastructure and develop its petroleum resources in line with Development Vision 2050. Future production will depend on exploration results, commercial viability, financing and infrastructure availability.
Libya: Armed Group Forces Shutdown Of Crude Pipeline Supplying Zawiya Refinery
An armed group closed a valve on a crude oil pipeline in Libya’s Rayayna area on Friday, forcing pumping operations to stop and disrupting supplies to the Zawiya refinery, the National Oil Corporation (NOC) said.
The 18-inch pipeline supplies the refinery with crude from the Hamada fields, MN-8 and MN-5, and the Tahara field, MN-4, NOC said in a statement.
The sudden valve closure caused a sharp rise in operating pressure, prompting technical teams to halt pumping at 12:30 a.m. to protect the pipeline and production facilities, it said.
NOC warned that a prolonged shutdown would disrupt approximately 15,000 barrels per day of crude intended for the refinery.
The closure also threatened the safety of oil infrastructure and the continuity of refinery supplies, with potential consequences for Libya’s economy, the company said.
NOC condemned the incident and urged the authorities, particularly the Petroleum Facilities Guard, to secure the pipeline, reopen the valve and allow pumping to resume without delay.
It also called for stronger protection of oil facilities and pipelines against attacks that threaten production and the country’s resources.
Ghana: PETROSOL CEO Urges Government To Turn Economic Stability Into Sustainable Growth
The Chief Executive Officer of PETROSOL Platinum Energy PLC, Michael Bozumbil, has urged the government to consolidate Ghana’s economic recovery through consistent policies, prudent public spending and stronger support for indigenous businesses.
Delivering the keynote address at the 50th Annual General Meeting of the Ghana National Chamber of Commerce and Industry (GNCCI) in Accra on Wednesday, October 28, 2026, Bozumbil said improving economic indicators were encouraging but did not mean the economy had fully recovered.
The event, held at the Ghana Shippers’ House in Ridge, was under the theme, “From Stability to Growth: Promoting a Resilient and Future-Ready Private Sector.”
Bozumbil compared economic recovery to a patient whose condition had stabilised but who still required treatment and monitoring. He said the economy’s underlying strength depended on businesses creating jobs, generating income and contributing to national development.
“The first few years of economic stability simply mean that the economic recovery process has started. It does not mean that the economy has fully recovered and that we can return to business as usual.”
A Call For Policy Discipline And Stronger Local Businesses
He urged the government to maintain a predictable policy environment, prepare realistic budgets, spend within its means and build financial buffers against future shocks.
Bozumbil commended the government for signing up to the International Monetary Fund’s Policy Coordination Instrument (PCI) without seeking financing from the Fund. He cautioned against decisions that could reverse economic gains ahead of the 2028 elections.
He called for transparent procurement, effective local-content policies and access to long-term financing to support credible Ghanaian businesses.
Policymakers, he said, should engage more closely with indigenous entrepreneurs who understand the practical challenges of operating in Ghana. Stronger local companies would help sustain employment, improve national competitiveness and provide dependable tax revenue.
Practical Lessons For Future-Ready Businesses
Drawing on PETROSOL’s experience, Bozumbil identified a clear business purpose, quality, credible relationships, financial discipline and continuous improvement as essential to resilience.
He urged businesses to honour their commitments to employees, customers, suppliers and partners, manage cash flow carefully, invest in staff training and adapt to changing market conditions.
Companies should strengthen their balance sheets before expanding and improve governance and financial records to attract investment, he said. He also encouraged businesses to treat regulatory compliance and recognised standards as competitive advantages.
On the energy transition, Bozumbil urged companies to assess diversification opportunities in solar energy and electric vehicle charging, taking account of commercial viability and infrastructure readiness.
He highlighted the importance of developing young talent and expanding opportunities for women in leadership, citing PETROSOL’s Women Network and Next Energy Talent initiatives.
He also encouraged companies to support the growth of their dealers, distributors, suppliers and small contractors.
Three Proposals For The GNCCI
Bozumbil proposed three initiatives for the GNCCI: a capital-readiness programme to prepare small and medium-sized enterprises for investment; a standards and certification support desk; and evidence-based advocacy supported by regular data on business conditions.
Such data, he said, should cover borrowing costs, regulatory bottlenecks, tax changes, logistics costs and delays in government payments.
He urged members to participate actively in the Chamber’s work and mentor emerging entrepreneurs.
Reflecting on his relationship with the Chamber, Bozumbil recalled being named Young Entrepreneur of the Year for 2016 at the Chamber Business Awards held in 2017, before receiving the Chamber Businessman of the Year award in 2024.
He highlighted the importance of developing young talent and expanding opportunities for women in leadership, citing PETROSOL’s Women Network and Next Energy Talent initiatives.
He also encouraged companies to support the growth of their dealers, distributors, suppliers and small contractors.
Three Proposals For The GNCCI
Bozumbil proposed three initiatives for the GNCCI: a capital-readiness programme to prepare small and medium-sized enterprises for investment; a standards and certification support desk; and evidence-based advocacy supported by regular data on business conditions.
Such data, he said, should cover borrowing costs, regulatory bottlenecks, tax changes, logistics costs and delays in government payments.
He urged members to participate actively in the Chamber’s work and mentor emerging entrepreneurs.
Reflecting on his relationship with the Chamber, Bozumbil recalled being named Young Entrepreneur of the Year for 2016 at the Chamber Business Awards held in 2017, before receiving the Chamber Businessman of the Year award in 2024.
Turning Stability Into Opportunity
He said economic stability offered an opportunity that required preparedness, responsible leadership and collective effort. He also paid tribute to PETROSOL’s employees, crediting their diligence and commitment to quality for the company’s progress. “A resilient business is not one that never faces a storm. It is one that prepares before the storm comes and is ready to move when conditions improve,” he said. EU Countries Pledge To Release 42.6 Million Barrels Of Oil To Ease Supply Concerns
European Union countries, including France and Germany, pledged on Thursday to release a combined 42.6 million barrels of oil from strategic reserves by the end of January 2027 to ease global energy supply concerns, AFP reported.
The pledge follows a G7 agreement reached earlier this month to release additional oil stocks.
The other signatories named are Belgium, Denmark, Greece, Latvia, Luxembourg, the Netherlands, Portugal and Sweden. Lithuania also endorsed the initiative but did not sign the joint pledge.
“EU member states have reaffirmed their commitment to an accelerated release of 42.6 million barrels from strategic reserves over the next months, and around half of this will be diesel,” EU Energy Commissioner Dan Jorgensen told reporters, according to AFP.
The planned release includes 20.5 million barrels of diesel.
The announcement comes weeks after G7 economies agreed to release 100 million barrels of diesel and crude oil following U.S. President Donald Trump’s threat to impose a diesel export ban.
The International Energy Agency called in mid-October for its members to accelerate the release of oil stocks ahead of winter.
Trump increased pressure on Europe to release reserves after the U.S.-Israeli war with Iran drove up energy prices. Higher fuel costs have become a key domestic issue ahead of next week’s U.S. congressional elections.
The European Commission said it was taking the crisis’s impact on households seriously, although it did not anticipate supply shortages.
“We do not expect the security of supply issue as such. But for the citizens who are struggling to pay the bills, that might not matter,” Jorgensen said.
Afreximbank Approves $975 Million Facility For Oryx Energies Management Buyout
African Export-Import Bank (Afreximbank) has approved a $975 million financing facility to partly fund the management buyout of Oryx Energies SA, the holding company of Addax Energy SA.
The bank said the transaction would strengthen Africa’s energy security and demonstrated the growing capacity of African financial institutions to support the continent’s industrial development.
It said the acquisition would help retain economic value in Africa, strengthen energy sovereignty and align resources with the continent’s development priorities.
The financing builds on Afreximbank’s support for Africa’s energy sector, including investments in upstream production and refining capacity. The bank said the facility would support energy infrastructure development and trade across the continent.
Afreximbank acted as sole lender, facility agent, security trustee and escrow agent for the transaction.
Oryx Energies Chief Executive Moussa Diao said the buyout marked an important milestone for the company and reflected the capacity of experienced African leaders to guide established businesses towards new opportunities.
“This management buy-out marks an important milestone in the history of Oryx Energies and the continuation of a journey that our management team has been part of for many years,” he said.
“Our ambition remains to strengthen our activities in energy trading and infrastructure development across Africa.”
Diao said the transaction would not have been possible without Afreximbank’s support, adding that its involvement reflected confidence in the management team, the business and opportunities across Africa.
He said the deal also demonstrated the growing role of African financial institutions in supporting the development of established African businesses.
Afreximbank President and Chairman George Elombi said the transaction supported the bank’s mandate to drive the structural transformation of African economies.
“Through the Management Buy-Out of Oryx Energies SA’s trading and distribution business, we have secured a strategic platform to deepen Africa’s energy industrial ecosystem, strengthen energy infrastructure and capture more value from the continent’s abundant natural resources,” he said.
Elombi said the transaction would promote greater African ownership and participation by supporting local entrepreneurs, building capacity, creating jobs and retaining more economic value on the continent.
Ghana: GRIDCo, ECG Announce Planned Power Outages In Kumasi From Oct. 30 To Nov. 29
Ghana Grid Company (GRIDCo) LTD. and the Electricity Company of Ghana (ECG) have announced planned power outages in parts of Kumasi and surrounding communities from Oct. 30 to Nov. 29 to allow work on a transmission line upgrade.
The 161-kilovolt Anwomaso–Ahodwo (K1–K2) transmission line upgrade is 70% complete and is expected to be finished by the end of November 2026, the companies said in a joint statement on Thursday.
The outages will take place on weekdays between 9 a.m. and 5 p.m., with individual communities affected on specific days as work progresses along the route.
The interruptions are needed to allow crews to string transmission conductors safely on towers, protecting workers and members of the public, the statement said.
ECG is expected to publish a detailed schedule listing the affected communities and their outage dates to help households and businesses prepare.
The companies appealed to consumers to cooperate with project teams and apologised for the inconvenience.
They said the upgrade would strengthen the transmission network and improve the reliability of electricity supply in Kumasi and surrounding communities in the Ashanti Region.
Houthis Claim Fresh Strikes On Saudi Oil Refineries And Aramco Facilities
Yemen’s Houthis have claimed a fresh series of attacks on Saudi Arabia’s energy infrastructure, including two refineries and an Aramco facility in Abqaiq, according to Oilprice.com.
The group’s spokesperson, Yahya Saree, said in a post on X that it had targeted the Ras Tanura and Rabigh refineries, along with the Aramco facility.
Saree claimed the attacks were successful and said the group had also targeted King Fahd International Airport in Dammam and King Khalid International Airport in Riyadh.
Saudi Arabia has not confirmed the attacks or their impact on the targeted facilities.
If confirmed, the strike on Ras Tanura would be the second reported attack on the refinery this week. Reports emerged on Tuesday of a fire at the facility, which Saudi authorities said was quickly contained.
The Ras Tanura refinery has a processing capacity of 550,000 barrels per day.
The Houthis have also claimed an attack on Saudi Arabia’s East–West pipeline, which the kingdom has used to redirect crude exports from the Persian Gulf to the Red Sea, bypassing the Strait of Hormuz.
According to Oilprice.com, the pipeline resumed operations in September after drone attacks damaged pumping stations and halted crude loadings at the Red Sea port of Yanbu for two weeks. Saudi Arabia reported that flows had recovered to 5.8 million barrels per day by October 6.
Saudi Arabia has not confirmed the latest claimed attack on the pipeline.
The kingdom has also relied on tanker movements through the Strait of Hormuz and ship-to-ship transfers to maintain crude exports.
Oilprice.com reported that Houthi attacks on Saudi Arabia had contributed to oil price volatility over the past two months as the group intensified its campaign and Saudi authorities sought to contain the impact.
Earlier this week, Yemen’s internationally recognised government called on the United Nations Security Council to adopt “deterrent and punitive measures” against the Houthis over repeated attacks on Aden International Airport.
Panellists Urge Africa To Build Resilient Energy Systems To Withstand Global Shocks
Panellists at the OTL Africa Downstream Energy Week in Lagos, Nigeria, have underscored the need for Africa to strengthen its energy security by attracting greater investment and building resilient energy systems capable of withstanding global shocks.
Chairing the session, Dr Sheila Addo, Deputy Chief Executive (Technical) of Ghana’s National Petroleum Authority (NPA) and a member of the event’s Advisory Board, encouraged African countries to draw lessons from disruptions in global energy markets in recent months.
She called for greater investment in infrastructure, stronger regional collaboration and deliberate efforts to build self-sufficiency across the continent.
She emphasised that Africa must position itself to meet its energy needs and develop resilient supply systems that support sustainable economic growth and development.
The panel examined how geopolitical tensions, fuel price volatility and shifting energy marketZambia: Parliament Approves Creation Of Electricity And Petroleum Ministries dynamics affect African economies, particularly fuel supply, pricing and investment decisions.
Panellists agreed on the importance of developing critical infrastructure, including refining capacity, storage facilities and distribution networks, to reduce dependence on imports and strengthen energy security.
They emphasised that increasing local production and improving regional supply chains would help African countries withstand external shocks while meeting growing energy demand.
The discussions also focused on creating an enabling environment for investment through regulatory certainty, transparent policies and sustainable market reforms.
On the energy transition, the panel agreed that Africa must pursue a practical and balanced approach that reflects its development needs.
Angola: President Lourenço Invites Namibia To Acquire Stake In Lobito Refinery
Angolan President João Lourenço has invited Namibia to consider acquiring a stake in the Lobito refinery, which is expected to process 200,000 barrels of crude oil per day when completed in 2029.
Lourenço made the invitation during talks in Luanda with Namibian President Netumbo Nandi-Ndaitwah during her state visit and the first session of the Angola–Namibia Binational Commission.
He highlighted opportunities for cooperation in the oil sector, stressing the importance of expanding the production and marketing of refined petroleum products to add value and meet growing regional energy demand.
Lourenço also reaffirmed Angola’s willingness to share its experience in oil exploration, production and marketing as Namibia prepares to begin commercial production of its oil resources.
The two countries identified stronger energy cooperation as a priority, particularly through projects capable of supporting regional economic development.
Located in Benguela province, the Lobito refinery is expected to produce petrol, diesel, liquefied petroleum gas (LPG), aviation fuel and other petroleum products. The project aims to reduce Angola’s reliance on fuel imports and expand its domestic refining capacity.
Nigeria: TCN Apprehends More Than 30 Suspected Vandals In Kano
The Transmission Company of Nigeria (TCN) has apprehended more than 30 suspected vandals as part of efforts to protect electricity transmission infrastructure, its General Manager, Muhammad Kamal-Bello, said.
Kamal-Bello told the News Agency of Nigeria (NAN) at a sensitisation programme on Wednesday that the company had intensified public awareness campaigns nationwide to prevent vandalism.
He urged communities to support efforts to safeguard transmission towers and other electricity facilities.
The programme brought together government officials, traditional and religious leaders, artisans, civil society organisations, young people and media representatives.
According to NAN, the campaign highlighted the risks associated with vandalism and encroachment, including electrocution, fires and structural collapse. It also explained how damage to transmission infrastructure affects the grid and electricity supply.
Kamal-Bello urged residents to avoid activities that could compromise the safety of transmission facilities.
“The company has enjoyed substantial cooperation from communities along the Kumbotso–Zaria transmission line,” he said.
He warned that digging near transmission towers could weaken their foundations, cause them to collapse and disrupt electricity supply.
Kamal-Bello commended traditional institutions, security agencies and other stakeholders for their cooperation, stressing the importance of collective efforts to protect electricity infrastructure.
He urged residents to remain vigilant and report suspicious activities around transmission towers and other installations to the appropriate authorities.
Also speaking at the programme, the Hakimin Gunduwawan Paki, Alhaji Ja’afaru Aliyu-Paki, described electricity as essential to development, infrastructure and security.
Aliyu-Paki urged community members to help protect substations and other electricity infrastructure against vandalism.
He commended TCN for organising the programme and called for sustained cooperation between the company and communities to safeguard transmission facilities and improve electricity supply.