To get around issues with local supply, Nigeria’s Dangote refinery is in negotiations with Libya to get crude for the 650,000 barrels per day (bpd)
Category: Africa
International gang busted in South Africa over multi-million dollar industrial meth lab.
In one of the largest drug busts in the history of the nation, South African police have discovered an industrial-scale meth manufacturing facility and have
Nigeria fines Meta platforms $220m for violating privacy laws.
Nigeria’s competition watchdog announced on Friday that Meta Platforms had been fined $220 million. The inquiry revealed that data-sharing on social media platforms had breached
The Nigerian Naira hits a new low of N1,612.50 to the dollar on the official market.
To support the currency, Nigeria’s central bank sold dollars to retail exchange bureaux on Thursday for 1,450 naira. It claimed that anomalies in the retail
TotalEnergies exits Nigerian onshore oil by transfer of assets to Chappal Energies for $860m.
For $860 million, the French energy giant TotalEnergies sold Chappal Energies, located in Mauritius, its minority stake in a significant onshore oil joint venture in
Ghana’s devastated cocoa season throws global trading houses to over $1b loss.
Trading firms that rely on cocoa derivatives could lose at least $1 billion and traders were forced to unwind short bets in a surging market
African financial sector faces collapse from biodiversity loss.
Several lenders in the region may fail if natural disasters reduce the earnings of the forestry and agricultural companies they have lent to, according to
Nigeria’s inflation hit a record 28-year high heralding the worst cost of living crisis in June.
June saw Nigeria’s inflation rate reach a record 28-year high of 34.19% in annual terms, according to official figures released on Monday. However, several analysts
Nigeria directs IOCs to sell crude to Dangote, domestic refiners at open market prices.
A supply conflict that had damaged ties with foreign oil corporations has been resolved by an agreement reached by Nigeria’s oil regulator with producers to
Nigeria’s gasoline debt reaches $6 billion, subsidy to gulp $3.7b in 2024.
As the state oil company NNPC tries to bridge the difference between set pump prices and foreign fuel costs, Nigeria’s debt to gasoline suppliers has
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